San Marco Continues to Discover High Grade Mineralization at Chunibas; Samples 6.41% Copper and 27.3 g/t Silver
VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) -- San Marco Resources Inc. (TSX-V:SMN) ("San Marco" or “the Company”) announces further assay results from continuing fieldwork at Chunibas. As disclosed in the Company’s news release dated January 10th, 2018, newly discovered copper and silver mineralization at the Company’s 100% owned Chunibas property has been located over an area of approximately 1.2 kilometres of strike and at least 100 metres of width. That zone has now been extended to 1.7 kilometres of strike and up to 150 metres of width, and open in all directions.
Recent surface work included 38 rock chip samples, of which 26% assayed greater than 1% copper and 50% greater than 0.2 % copper. Highlights of the recent 38 assay results are:
Sample number Cu (%) Ag (g/t)
366587 0.75 4.8
366588 1.28 13.7
366589 2.62 26.3
366590 1.29 5.83
366591 1.82 29.8
366592 1.52 10.9
366596 3.95 32.8
366597 6.41 27.3
366601 2.13 7.2
366606 1.59 10.8
366608 0.58 3.6
366610 1.06 5.1
366612 0.87 1.9
An initial petrographic study has identified bornite, chalcocite, covellite and idaite as the primary copper minerals which appear associated with hydrothermal alteration. Microscopic textural features indicate that chalcocite, covellite and idaite are replacing bornite. The nature of the replacement could be a late hydrothermal event or supergene. The dominant alteration assemblage is represented by Iron – epidote -> chlorite > quartz > calcite.
The andesitic host rocks of presumed Larimide age have undergone hydrothermal alteration, represented by patches, cavity filling and microbrecciation.
Additional and pending exploration on the Chunibas property includes:
- Continuous rock chip channel sampling over outcrops is underway.
- Follow-up more detailed petrographic studies to be initiated.
- A trenching program between individual outcrops is being evaluated. Success of this program will depend on the depth of cover between outcrops.
- Induced Polarization (I.P.), as well as ground magnetic surveys are being considered to help define the boundaries of the system.
For related images, please visit the Chunibas Project on the Company’s website.
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 northwestern 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 64,716,276 issued and outstanding shares.
On behalf of the Board of Directors:
Robert Willis, P. Eng.
President & CEO
For further information, contact:
Nancy Curry
info@sanmarcocorp.com
National Instrument 43-101 Disclosure
This news release has been approved by San Marco's CEO, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.
The Company has implemented quality assurance (“QA”) and quality control (“QC”) programs to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. All sampling programs are carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. Quality control programs appropriate to the type of sample and the mineralization are implemented, including such measures as external blanks, standards and duplicate samples. The security of samples from sample acquisition to analysis is a vital component of the sampling process. Procedures include the use of secure core logging, sampling, storage and preparation facilities as appropriate and the prompt, secure and direct shipping of samples to the laboratories. Appropriate sample security procedures are employed given the geographic and topographic conditions and the logistics created by the site location.
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco's actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.