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San Marco Confirms Porphyry Copper-Molybdenum-Gold System at 100% Owned Espiritu SMR Project in Sonora, Mexico

 

 

 

 

 

San Marco Resources Inc. (TSX-V: SMN) is pleased to announce it has completed a critical first phase of exploration and evaluation which confirms the existence of a porphyry copper-molybdenum-gold system at its 100% owned Espiritu SMR property in Sonora State, Mexico. In addition, work from this phase has identified previously unrecognized vectoring tools to optimize future exploration efforts toward priority target areas of potential best-grade mineralization.

 

As part of the Phase I program, San Marco engaged renowned consulting geologist Luciano Bocanegra (see the Company’s news release dated October 18, 2018) to lead the San Marco team in the reinterpretation and consolidation of all previous data from the Espiritu SMR property. Data utilized in this evaluation included geological mapping, surface rock sampling, re-logging of historical drill core and review of rock geochemical data. Results and recommendations from Mr. Bocanegra’s work included:

 

– confirmation of a multi-stage copper-moly-gold porphyry system with a minimum alteration footprint measuring 2.5 km x 1.2 km, open in multiple directions;
– identification of previously unrecognized vectoring tools that can assist in targeting potential areas of best-grade mineralization to depth and buried targets under post mineral rocks;
– indication that copper mineralization may be preserved at depth within the shallower part of the porphyry system(s);
– confirmation that the best copper mineralization in surface and drill core samples is related to intense quartz-chalcopyrite-pyrite stockwork in potassic altered rocks; and
– recommendation to conduct additional deeper penetrating geophysical surveying to assist in locating the potential source of the mineralization seen in drill holes.

 

“We are pleased with the results and interpretations of this first phase of work at Espiritu SMR. The important data compilation and invaluable insights from Luciano Bocanegra has confirmed the porphyry copper-moly-gold potential of the Espiritu SMR project and heightened our understanding of its ongoing exploration potential. This extensive interpretive work and recent re-mapping of the project area has better determined the surface extent of the porphyry system(s) and evidenced several of these zones remain open for ongoing exploration. We are now utilizing this new information, interpretations and recommendations as a means of optimizing and streamlining our future work which is expected to include the recommended magnetic and ZTEM surveys to assist in locating a deeper source of the mineralization in advance of possible drilling at the project,” said CEO Chris T. Grijalva.

 

About the Espiritu SMR Property

 

The Company was awarded with the Espiritu SMR property through the Mexican government’s mineral concession lottery in Q2 2018. Espiritu SMR is located approximately 230 kilometres (“km”) east of Hermosillo and 15 km east of the town of Sahuaripa. The initial land acquisition covered approximately 2,712 hectares and was recently increased to an overall land position of 4697 hectares distributed in two claim applications which are located less than 30 km SE of the Company’s Chunibas and 1068 Projects.

 

Historical drill hole assay data* has indications of widespread gold and copper mineralization. Selected historical drill results include:

 

  • Drill Hole ESP-02-09: 48.00 m @ 0.19 g/ton Au; 0.10% Cu; 2.0 g/ton Ag, including 1.50 m @ 1.80 g/ton Au; 0.07% Cu; 2.0 g/ton Ag
  • Drill Hole ESP-06-10: 220.50 m @ 0.14 g/ton Au; 0.15% Cu; 1.1 g/ton Ag.

 

* The foregoing geological information on the Espiritu property was previously publicly disclosed by (and San Marco obtained it from) Kootenay Silver Inc. (www.kootenaysilver.com) and has not been verified by the Company. Readers are cautioned not to place undue weight on such information. Details of the sampling methods, handling and quality control methods used in the generation of the foregoing historical technical data by Kootenay Silver are unknown to San Marco, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the Company’s Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators

 

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 a 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.

 

Posted January 8, 2019

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