VANCOUVER, British Columbia, Feb. 27, 2018 (GLOBE NEWSWIRE) -- San Marco Resources Inc. (SMN.V) ("San Marco" or “the Company”) announces the completion of the previously announced Induced Polarization survey at the Company’s 100% owned 1068 porphyry copper, gold, molybdenum project in Sonora State, Mexico.
A pole-dipole IP survey was completed over a 2 kilometre by 2.8 kilometre grid with northeast trending lines spaced every 400 metres. The survey succeeded, detecting a large chargeability anomaly measuring 1.2 kilometres by 1.3 kilometres. The anomaly displays high chargeability readings, peaking at greater than 40 mv/V. The surface projection of the anomaly coincides with the area already mapped as prospective Laramide aged volcanic units that have been subjected to pervasive quartz-sericite-clay-pyrite ± iron oxides (phyllic) alteration, characteristic of the outer shell of a mineralized porphyry system. This mapped leached cap obscures almost all of the underlying geology, except in a small erosional window where San Marco personnel were able to map an area of potassically altered rocks. Mineralization which includes early stage veining contains copper, molybdenum and gold. Potassic alteration is a common feature of the ore-bearing zones of economically mineralized porphyry systems.
The geophysical modelling shows a large area of high chargeability starting just below the current surface with the highest values starting 200 metres below surface and extending down to 400 metres (the limit of the survey). The highest chargeability readings surround a core area with slightly lower readings. San Marco’s geophysical consultants consider the 1068 target highly prospective and have recommended a four-hole drill program as an initial test.
Robert Willis, San Marco’s CEO stated; “The IP survey has generated a classic “textbook” porphyry-style geophysical target. These geophysical results add additional support to our theory of significant vertical extent below the large surface footprint. Drill hole collars are expected to be located at or near copper/gold/moly mineralization, which has been locally, identified right at surface. Each new layer of data that has been generated at 1068 has simply strengthened the target potential.”
An initial 4 drill holes have been recommended to target across the gradient of higher chargeability associated with phyllically altered pyritic shell into the lower signature associated with the potasically altered and mineralized rocks.
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.
On behalf of the Board of Directors:
Robert Willis, P. Eng.
President & CEO
For further information, contact:
Paul MacDonald – Investor Relations
pmacdonald@sanmarcocorp.com
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.