San Marco to begin Phase One Drill Program at the Chunibas Project & Appoints New Chief Financial Officer
San Marco to begin Phase One Drill Program at the Chunibas Project
& Appoints New Chief Financial Officer
Vancouver, B.C. – May 4th, 2017: San Marco Resources Inc. (SMN: TSX-V) ("San Marco" or
the “Company”) announces it has commenced preparation for Phase One core drill program at
its 100% owned Chunibas gold/silver project, located approximately 160 kilometres east of
Hermosillo, Sonora State, Mexico.
• The Chunibas targets are a series of high-grade gold bearing veins hosted in intrusive
rocks
• There are 5 main vein zones; Santa Rosa, Argentina, Santa Fe, Gusima, and Western,
which comprise a “mineralized corridor“ 750 metres wide and 1.5 kilometres long
• The Company’s sampling of the one to two metre-wide structures has resulted in grades
up to 46 g/t gold
• The Project enjoys excellent infrastructure and access
• Surface access rights secured
• Access road repair and drill pad construction is commencing
• Drilling expected to begin by the end of May
• Additional drilling maybe scheduled, based on initial results
The primary objectives of this drilling will be to confirm the presence of higher -grade
mineralization within the discrete shear veins, as well as the presence of broad haloes of lower
grade Au-Ag within adjacent, sericite – Fe carbonate altered wall rocks. Historical data has been
incorporated with the Company’s recent exploration work, resulting in field evidence that the
north-south trending shear/vein structures coalesce in various zones along strike. This has
reinforced the geological model that wider zones of gold mineralization, flanking the high-grade
shear structures, some of which continue to be mined by local gambosinos (miners), where
grades appear to be in the 15 g/t gold range, exist. *
An initial 4 core holes totalling approximately 500 metres is contemplated, two holes in the
Santa Fe zone; one hole 400 metres along strike to the north in the Santa Rosa zone; and one
hole a further 350 meters to the north in the Argentina zone. These holes are located in areas of
old gambosino workings, as well as several historic reverse circulation drill holes. *
In addition, baseline metallurgical test work will also be completed, with the objective of
determining precious metals recoveries as a function of degree of oxidation.
*See the Company’s website for historic reverse circulation drill results
San Marco appoints Fernando J. Costa CFO
The Company also announces that Fernando J. Costa, CPA, CA has been appointed as the
Company’s new Chief Financial Officer.
Mr. Costa brings more than 20 years of professional experience in merger and acquisition
transactions along with corporate finance, accounting and taxation matters. Mr. Costa earned
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his CPA, CA designation in 2001. Mr. Costa currently serves as an assurance partner in a large
regional accounting firm located in Vancouver, British Columbia. He has significant experience
in dealing with resource based public companies and has been involved in complex corporate
finance transactions, mergers and acquisitions.
"We are extremely pleased to welcome Mr. Costa to San Marco’s management team," said Bob
Willis, CEO of the Company. "He brings an extensive amount of accounting and public company
experience to San Marco which will assist the Company as it further deve lops its resource
projects”.
This appointment comes with the departure of Bernie Zacharias, who played an important role
in the development of the Company and ensuring accurate reporting. Both the board and
management team are very grateful for Mr. Zach arias’ dedication to and hard work for the
Company and wish him well on all his future endeavours.
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 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 56,051,832 issued and outstanding shares.
On behalf of the Board of Directors,
Robert Willis, P. Eng.
President & CEO
For further information, contact:
Nancy Curry
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.
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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.