San Marco Announces Results of Phase I Drilling and Ongoing Joint Venture Exploration at the Chunibas Copper-Silver Project, Sonora, Mexico
San Marco Announces Results of Phase I
Drilling and Ongoing Joint Venture Exploration
at the Chunibas Copper-Silver Project, Sonora,
Mexico
VANCOUVER
,
Jan. 17, 2019
/CNW/ - San Marco Resources Inc. (SMN: TSX-V) ("San Marco" or
the "Company") announces that Phase 1 exploration drilling results from its 100% owned
Chunibas copper/silver project, located in Sonora State,
Mexico
(the "Project") have been received.
San Marco
and a wholly-owned subsidiary of
Antofagasta
plc ("Antofagasta") have entered into an
earn-in agreement to jointly explore and drill test several copper-silver rich mineralized targets
mapped on surface. Antofagasta is funding all activities during the Phase I exploration program, to a
maximum of
US$700,000
.
Initial results from the program confirm the existence of a typical copper-silver "Manto-Type"
system. This initial program consisted of approximately 1,640 metres of diamond drilling distributed
over 7 shallow drill holes. Five holes tested 1.2 km of the NW-SE striking mineralized corridor, whilst
the remaining two holes tested approximately
400m
width along one NE - SW section perpendicular
to the corridor.
The initial drill campaign achieved and confirmed the down-dip and along strike continuity of
alteration, mineralization and receptive rock units mapped on surface. Highlights of the mineralized
intervals are as follows:
Drill hole CHD18-05: 7.45 meters @ 0.1% Cu and 2.3 g/ton Ag
22 meters @ 0.05% Cu and 0.7 g/ton Ag
Drill hole CHD18-06: 3.0 meters @ 0.08% Cu and 0.6 g/ton Ag
Drill hole CHD18-07: 6.0 meters @ 0.06% Cu and 0.3 g/ton Ag
San Marco CEO Christian Grijalva stated: "We are pleased that Phase I drill results have confirmed
the existence of a copper mineralized system and provided useful third dimension data to assist in
vectoring towards the source of mineralization, and potentially higher-grade copper zones. The
Company's goal is to identify a sizable mineralized "Manto-Type" system with the potential to meet
the high thresholds of its partnership with
Antofagasta
. The first phase drill program was designed to
broadly test the target for certain geological characteristics associated with the type of deposit
sought. The Company and its partner will evaluate the latest data for ongoing exploration and
vectoring guidance in planning a next phase of exploration."
Final interpretation of drilling results will continue through Q1, to help vector towards areas which
may host feeder zones of higher-grade mineralization.
Additional planned field work for Q1 will include detailed mapping and sampling of additional
prospective areas already identified by first-pass work. The additional areas to be explored are
represented by several volcanic units with strong evidence of alteration and mineralization, similar to
what has been seen over the drill tested zones.
* For related images, please click
here
.
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 Espiritu SMR, 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 issued and outstanding shares.
On behalf of the Board of Directors,
Christian Grijalva
, B.Sc.
Chief Executive Officer
National Instrument 43-101 Disclosure
This news release has been approved by
San Marco's
Co-Chairman,
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.
San Marco
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.
SOURCE
San Marco Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/January2019/17/c6502.html
%SEDAR: 00025537E
For further information:
Roger Blair, Direct: (604) 646-1877, [email protected]
CO: San Marco Resources Inc.
CNW 10:00e 17-JAN-19