San Marco Intercepts Shallow Gold at Buck Property; 91 Metres of 0.80 g/t AuEq Within 156 Metres of 0.63 g/t AuEq and 81 Metres of 0.78 g/t AuEq Within 200.7 Metres of 0.51 g/t AuEq
San Marco Intercepts Shallow Gold at Buck Property; 91
Metres of 0.80 g/t AuEq Within 156 Metres of 0.63 g/t
AuEq and 81 Metres of 0.78 g/t AuEq Within 200.7 Metres
of 0.51 g/t AuEq
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2020) - San Marco Resources Inc. (TSXV: SMN) ("San Marco") is
pleased to announce it has intersected
wide zones of continuous gold mineralization
from its recently completed Phase 1
drill program at its 100% optioned gold/silver/zinc Buck property in north-central B.C.
Highlights of the Phase 1 drill program include:
91 metres of 0.80 g/t AuEq (gold equivalent, gold and silver only) within 156 metres of 0.63 g/t
AuEq, including
33 metres of 1.01 g/t AuEq.
81 metres of 0.78 g/t AuEq within 200.7 metres of 0.51 g/t AuEq, including 44 metres of 1.01 g/t AuEq.
2.15 metres of 6.3 g/t Au and 10.0 g/t Ag, including 0.3 metres of 20.7 g/t Au and 48.9 g/t Ag (within 4 metres of
the bottom of BK20-002).
Mineralization is hosted in highly clay altered, faulted and fractured, brecciated volcanic tuffs, as wide disseminated zones
and high-grade veins.
[*]
Very consistent gold and silver grades intersected at shallow depths, some of which are projected to surface.
San Marco's Executive Director, Bob Willis, states "We are very encouraged to see significant intervals of continuous gold
mineralization at Buck, which confirms our preliminary findings that this is a large, near-surface gold/silver exploration
opportunity. We intend to aggressively ramp up exploration efforts, with our 'boots on the ground' exploration team arriving on
site in about three weeks. Our drill program gave us the first opportunity to see fresh core we could log and tie to gold
mineralization, and to help target the best host rocks, alteration, and structural setting for gold deposition. We will use this new
information to target drilling for Phase 2 and to prioritize numerous attractive, but previously poorly understood, target areas at
Buck."
The 1,806 metre drill program was centered in an area of historically explored mineralization and consisted of a total of five
holes, where three holes were drilled in an area of known mineralization near surface. An additional two short holes were
collared 350 metres to the northwest in an attempt to locate a previously postulated mineralized fault zone. Drill hole locations for
the Phase 1 drill program can be seen in
Figure 1
and were previously announced on
April 8, 2020
.
The primary objective of the Phase 1 campaign was to get fresh drill core to identify styles of mineralization and detailed
analysis of subtle mineralizing controls that could then be applied project-wide. This has been successful, and these
observations will be a key component in the design of the Phase 2 drill program.
Significant shallow drill intersections of gold and silver has shown the robust nature of mineralization, with most of the gold
mineralization hosted as disseminations in the host rock, and as high-grade veins, commonly associated with sphalerite and
pyrite (see
Photo 1
). Most of the mineralized system has been classified as felsic lapilli tuffs (volcanic rocks), with various
degrees of brecciation. Rocks that are highly faulted and clay-altered have the most elevated gold values. Schematic cross
sections can be seen in
Figure 2
and
Figure 3
.
Near-Term Focus
San Marco's plans for the next phase of exploration include:
Continue to compile and analyse drill results and review drill core with assays in hand
Mobilize a field crew to the property in about three weeks
Commence exploration activities to include detailed mapping and sampling, and prospecting new areas radiating out from
current drill location
Re-interpret historical geophysical data to be used to assist in new drill target generation
Complete initial 3-D geological model after all drill core interpretation and field work is complete
Generate Phase 2 drill program
Significant intercepts for the Phase 1 drill program at Buck can be found below.
Hole
From (m)
To (m)
Width* (m)
AuEq (g/t) **
Au (g/t)
Ag (g/t)
Zn
(pct)
BK20-001
29.35
30.35
1
1.93
1.87
6.1
0.5%
and
60.00
62.00
2
1.09
1.06
2.7
0.1%
and
76.50
80.00
3.5
0.54
0.53
1.0
0.1%
and
102.30
303.00
200.7
0.51
0.48
3.7
0.2%
including
120.00
136.00
16
0.56
0.52
4.0
0.2%
and including
123.00
127.45
4.45
0.73
0.68
4.9
0.1%
and including
124.35
125.00
0.65
1.84
1.77
7.6
0.2%
including
153.80
281.00
127.2
0.62
0.58
4.1
0.2%
and including
157.45
238.00
81
0.78
0.73
4.9
0.2%
and including
192.00
236.00
44
1.01
0.96
5.1
0.2%
and including
192.00
202.00
10
1.07
1.00
7.6
0.2%
and including
210.00
212.00
2
1.18
1.13
5.1
0.2%
and including
224.00
234.00
10
1.69
1.65
4.8
0.4%
and including
224.00
228.88
4.88
2.62
2.54
8.3
0.6%
and
343.75
345.00
1.25
0.64
0.61
2.7
0.1%
BK20-002
50.25
56.00
5.75
0.48
0.47
1.8
0.1%
including
50.25
50.60
0.35
2.08
1.93
16.1
1.0%
and
90.20
90.50
0.3
2.43
2.19
25.2
1.0%
and
101.00
257.10
156.1
0.63
0.59
4.3
0.5%
including
111.00
202.00
91
0.80
0.75
5.6
0.5%
and including
111.00
113.00
2
4.19
4.08
11.2
1.2%
and including
132.00
142.00
10
1.01
0.95
6.3
0.2%
and including
146.00
147.50
1.5
1.56
1.50
6.2
0.5%
and including
152.10
153.60
1.5
1.66
1.62
4.5
1.2%
and including
169.00
202.00
33
1.01
0.94
7.4
0.7%
and including
169.00
175.20
6.2
1.05
0.98
6.7
1.1%
and including
169.00
171.00
2
1.55
1.49
6.3
1.0%
and including
173.00
175.20
2.2
1.08
1.00
8.6
1.7%
and including
181.00
202.00
21
1.09
1.02
8.0
0.7%
including
245.20
257.10
11.9
0.88
0.84
3.9
0.9%
and including
248.40
252.00
3.6
2.04
1.99
5.5
1.4%
and
325.00
329.00
4
1.39
1.29
11.1
0.4%
and
335.90
337.00
1.1
5.69
5.55
14.9
0.0%
and
414.50
415.00
0.5
6.21
5.75
49.3
0.2%
and
424.65
426.80
2.15
6.40
6.30
10.0
0.0%
including
426.50
426.80
0.3
21.16
20.70
48.9
0.0%
BK20-003
84.40
85.00
0.6
1.62
1.48
14.9
2.0%
and
134.35
135.60
1.25
1.70
1.56
14.6
1.5%
including
134.35
134.65
0.3
5.75
5.37
40.4
3.6%
BK20-004
101.50
103.00
1.5
0.54
0.52
2.9
0.1%
including
101.50
101.80
0.3
1.47
1.42
5.0
0.2%
and
186.00
188.00
2
0.72
0.70
1.6
0.1%
and
211.10
221.20
10.1
0.49
0.42
7.1
0.5%
including
211.10
212.25
1.15
1.41
1.28
14.2
1.4%
including
220.85
221.20
0.35
2.74
2.61
14.0
2.7%
and
272.00
274.00
2
3.10
3.06
4.5
0.3%
BK20-005
165.80
188.80
23
0.63
0.32
33.2
0.4%
including
165.80
172.10
6.3
1.08
0.46
65.4
0.5%
including
188.50
188.80
0.3
1.30
0.64
70.4
1.0%
Hole
From (m)
To (m)
Width* (m)
AuEq (g/t) **
Au (g/t)
Ag (g/t)
Zn
(pct)
and
208.20
208.50
0.3
1.10
1.01
9.6
2.3%
and
214.00
304.50
90.5
0.35
0.30
5.1
0.4%
including
226.00
230.00
4
0.78
0.66
13.6
0.2%
including
252.00
304.50
52.5
0.39
0.33
6.1
0.5%
and including
262.00
281.00
19
0.51
0.41
10.9
0.6%
and including
302.50
304.50
2
0.66
0.64
1.9
0.0%
and
324.00
326.00
2
0.61
0.58
3.2
0.3%
and
348.00
350.00
2
0.61
0.54
7.4
0.1%
and
418.00
420.00
2
1.09
1.00
9.1
0.1%
Hole
From (m)
To (m)
Width* (m)
AuEq (g/t) **
Au (g/t)
Ag (g/t)
Zn
(pct)
* Widths are drill core length. Insufficient drilling has been undertaken to determine true widths at this time.
Average grades are weighted by width and calculated with uncapped gold assays.
Average widths are calculated using a 0.2 g/t gold equivalent cut-off grade with less than five continuous metres of internal
dilution below cut-off grade.
** Gold equivalent (AuEq) values were calculated using a gold price of US$ 1,600 per ounce and a silver price of US$ 15
per ounce. Gold equivalent values were calculated using the following formula: AuEq = (Au g/t) + (Ag g/t) x (15/1600).
Gold equivalent assumes 100% recoveries.
Quality Assurance
All sample assay results have been monitored through a quality assurance / quality control (QA/QC) program. Industry best
practices were used for defining a QA/QC program where 5% of the sampling stream was controlled by industry recognized
certified reference material (CRM's) and blanks. When necessary, additional QA/QC in the form of 5% of pulp and coarse reject
duplicates were selected for laboratory verification. The drill core was logged in detail by geologists utilizing a logging approach
designed by senior technical managers. Logging and sampling was completed at a secure facility in Smithers, B.C. by Coast
Mountain Geological Ltd. (CMG). Drill core was sawn in half on site and half drill-core samples were securely transported to the
ALS Global prep facility in Terrace, B.C. The samples were dried, crushed to 70% (< 2 mm), split to 250g, and pulverised to
85% (<75 µm). Sample pulps were sent to the ALS Global lab in North Vancouver, B.C., for analysis. Gold analysis was by 30g
Fire Assay with AA finish
and automatically re-analysed with Gravimetric finish if Au >5 g/t. Some samples underwent ore grade
analysis using the Four Acid method. In addition, pulps underwent Multi-Element Analysis by ICP-AES. ALS Global is registered
to ISO/IEC 17025:2017 accreditations for laboratory procedures.
Links to Figures
Figure 1:
http://sanmarcocorp.com/wp-content/uploads/2020/05/Buck_Drilling_Imagery_May2020_NR_sxns.jpg
Figure 2:
http://sanmarcocorp.com/wp-content/uploads/2020/05/Simplified_CrossSection_May2020_SectionA-scaled.jpg
Figure 3:
http://sanmarcocorp.com/wp-content/uploads/2020/05/Simplified_CrossSection_May2020_SectionB-scaled.jpg
Photo 1:
http://sanmarcocorp.com/wp-content/uploads/2020/05/Buck_CorePhotos.pdf
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a
focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.
The Company's principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large
tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition,
the Company's portfolio includes the several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate
positive outcomes for all stakeholders.
Further details are available on the Company's website at
www.sanmarcocorp.com
On behalf of the Board of Directors:
Robert Willis, P.Eng.
Executive Director
For further information, contact:
Nancy Curry
Corporate Communications
Sharyn Alexander, M.Sc.
VP Technical Services
National Instrument 43-101 Disclosure
This news release has been approved by San Marco's Executive Director, 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.
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 Resources Inc. 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.
[*]
Widths are drill core length
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/55698