San Marco Updates Exploration on Its Buck Gold - Silver Property, Central British Columbia
San Marco Updates Exploration on Its Buck
Gold - Silver Property, Central British
Columbia
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) -
San Marco Resources Inc. (TSXV:
SMN) provides an update from its multidisciplinary exploration program currently underway at its 100%
controlled Buck epithermal gold (Au) - silver (Ag) property in central British Columbia, Canada. The
15,000 hectare road accessible property is located 12 kilometres ("km") south of Houston, B.C. and has
excellent nearby infrastructure and allows for year-round exploration. The property is 170 km northwest of
Artemis Gold Inc.'s Blackwater Gold Project (9.5 million ounces of Au, Measured and Indicated Mineral
Resource; see Artemis Gold Inc.'s
June 9
th
, 2020
, news release - such resources are not indicative of
the mineralization on the Buck Property).
Highlights
Second Phase diamond drilling is expected to commence by the end of August.
This drill
phase will test epithermal-related, bulk-tonnage Au-Ag targets as well as structurally controlled,
high-grade Au-Ag targets. Initial drilling will be focused within the currently known one km by two
km surface mineralization footprint.
A ground magnetic survey will be completed in August covering historical and newly discovered
mineralization.
A 20 line-km induced polarization (IP) survey over the Buck breccia complex and its interpreted
northern extent below cover will commence early September.
679 soil samples were collected on a grid located one km north of historical drilling. Initial field
results from this newly discovered area indicate this area is very prospective for Au-Ag
mineralization. Assay results will be released when plotted and analysed.
104 rock-chip samples were taken from historical trenching as well as from areas of newly
identified mineralization throughout the property. Results will be released when plotted and
analysed.
Drilling
The second phase of 2020 diamond drilling will begin near the end of August, 2020. Numerous drill
targets are already defined and additional targets will be refined based on ongoing geological and
geochemical surveys and the upcoming geophysical surveys. San Marco is planning an aggressive drill
program which will include an initial 3,000 to 5,000 metres of drilling followed by an additional proposed
5,000 metres of drilling based on results of initial drilling. Drill site preparation is commencing shortly.
This upcoming drill program will build on the previously announced Phase 1 diamond drill program of
1,806 metres which intersected wide zones of continuous gold mineralization such as 91 metres of 0.75
grams per tonne (g/t) Au within 156 metres of 0.59 g/t Au (BK20-002, SMN news release dated
May 12,
2020
).
Geophysical Surveys
San Marco will conduct a 20 line-km IP survey over the Buck breccia complex. Historic 1980's-vintage IP
data was collected on east-west oriented lines. Based on the new understanding of key property-scale
WNW mineralization trends, a modern north-south oriented survey with a significantly increased depth of
investigation is warranted. This survey will also cover the recently completed soil geochemical grid
where historic IP data is lacking. Prior to the IP survey, a ground magnetic survey will be conducted to
help refine the property's lithological and structural architecture as well as identify areas of magnetite-
destructive alteration.
Geology and Sampling
Exploration completed to date include geological and structural mapping together with rock-chip
sampling in the northwest trending Buck Structural Corridor and also in newly identified zones of
mineralization along trend.
A total of 679 soil samples were collected on a grid centered one km north of the
Horseshoe zone. This newly discovered area is prospective for Buck-style Au-Ag
mineralization.
A total of 104 rock samples were systematically collected from throughout the property. Assay
results of these samples will be released after received and analysed.
Field crews completed approximately 26 line-km of soil sampling with a total of 679 B-horizon soil
samples collected over the inferred north-northeast extension of the Buck breccia complex. A total of 104
rock samples were also collected from areas of historic trenching and also areas of newly identified
zones of alteration and mineralization. In addition, 11 silt samples were collected from key drainages on
the property.
Detailed geological and structural mapping of historic trenches and gossanous outcrop along Buck
Creek revealed new insights into key structural controls to higher-grade Au-Ag mineralization (see SMN
news release dated
June 23
rd
, 2020
).
A property-scale WNW-trending, ~500 metre wide by at least
two km long structural zone, termed the Buck Structural Corridor, has been defined (
Figure 1
).
The Corridor is interpreted to be a first-order control on mineralization with smaller NE-SW
grade-controlling structures also observed.
The Corridor includes the Horseshoe, Adit and Trench
zones. Based on new structural observations, the structural model is being refined and will better inform
drill hole planning.
Gold and silver mineralization is predominantly associated with disseminated and lesser stringer-hosted
pyrite and sphalerite and is related to widespread and pervasive clay and/or quartz + sericite alteration
and secondary carbonate (e.g., 156 metres of 0.59 g/t Au; BK20-002, SMN news release dated
May
12
th
, 2020
). Similar styles of alteration have been intersected in most historic drill holes covering a
footprint of approximately one by two km.
The hydrothermal system is centred on the Buck breccia
complex comprised of intrusive breccias, magmatic-hydrothermal breccias, hydrothermal
breccias, pebble-dikes and a thick, intermediate- to felsic volcaniclastic pile.
The breccia
complex is associated with quartz-feldspar porphyritic granodiorite dykes that locally cross-cut
volcaniclastic rocks but are also represented as gravel to boulder sized clasts in N-S trending pebble-
dikes. The youngest volcaniclastic rocks contain clasts of plagioclase phyric andesite, quartz porphyritic
dacite, lesser flow-banded rhyolite and an abundance of altered and mineralised intrusive clasts with
local quartz-sulfide stockwork.
Taken together, two primary targets are defined, and include: 1) structurally controlled high-grade
epithermal-related Au-Ag, and 2) bulk-tonnage epithermal-related Au-Ag. Drill holes are being planned
to systematically test the lateral and vertical extent of both target types.
Health and Safety
The 2020 exploration programs are being carried out in full compliance with federal, provincial, and
municipal guidelines established in response to the global COVID-19 pandemic. San Marco has a
rigorous infection prevention and control protocol in place to protect the health of employees,
contractors, as well as surrounding communities in which we work.
Link to Figure
Figure 1:
http://sanmarcocorp.com/wp-content/uploads/2020/08/Buck_Overview_Aug6_NR-.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 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 and includes many
former and current operating mines. The Company's portfolio also includes 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 at
www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
Tel. 778-588-9606
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 also verified the data disclosed, including sampling,
analytical and test data, underlying the technical information in this news release.
Forward Looking Information
Statements contained in this presentation that are not historical facts are forward-looking statements,
which involve risks, uncertainties and other factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements. Factors that could cause such
differences, without limiting the generality of the following, include: risks inherent in exploration activities;
volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact
of exploration competition; the ability to raise funds through private or public equity financings;
imprecision in resource and reserve estimates; environmental and safety risks including increased
regulatory burdens; unexpected geological or hydrological conditions; changes in government
regulations and policies, including trade laws and policies; failure to obtain necessary permits and
approvals from government authorities; weather and other natural phenomena; and other exploration,
development, operating, financial market and regulatory risks. Except as required by applicable
securities regulation, San Marco Resources Inc. (SMN) disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/61173