Vancouver, B.C. – June 15th, 2017: San Marco Resources Inc. (SMN: TSX-V) has entered into an agreement to sell its La Pinta 06 concession in Zacatecas, Mexico to a subsidiary of Goldcorp. Inc. for $4,090,545 MXN ($225,000 USD) and a 1% net smelter return royalty on future production from the concession. Completion of the sale is subject to the approval of the TSX Venture Exchange.
The monies generated from the sale of La Pinta 06 concession, a non-core asset, will go into working capital as San Marco focuses on its recently announced drill program on its Chunibas project, trenching program on its Oregano project, further ground work surface sampling on its 1068 project and its on-going generative program.
About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of promising projects in mining-friendly Mexico, including the Chunibas, Mariana and 1068 Projects in Sonora State.
San Marco actively pursues strategic project generation program focused on high-caliber, low acquisition cost opportunities in the North-western Mexico. The Company has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value. San Marco currently has 56,051,832 issued and outstanding shares.
On behalf of the Board of Directors,
Robert Willis, P. Eng.
President & CEO
For further information, contact:
Nancy Curry
[email protected]
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Original Article: https://www.sanmarcocorp.com/news/2017/san-marco-to-sell-la-pinta-06-to-a-subsidiary-of-goldcorp/
