VANCOUVER, British Columbia, May 02, 2018 (GLOBE NEWSWIRE) -- San Marco Resources Inc. (TSX-V:SMN) ("San Marco" or “the Company”) is pleased to announce that it has been awarded the Suanse property in the Mexican government’s recent mineral concession lottery.
The property covers 1,115 hectares and is located 62 kilometres (“km”) southeast of the world class Buenavista copper mine (formerly named Cananea) and 42 km to the north-west of La Caridad mine (both operated by Southern Copper Corporation, www.southerncoppercorp.com), in the prolific Cananea-La Caridad copper belt of Northern Sonora State, which is known for being host for world-class porphyry copper deposits, and many high quality exploration copper-moly prospects
The Suanse property is sandwiched between two mineral concessions within the Llano del Nogal porphyry copper moly property, controlled by Evrim Resources Corp. For related images, visit the Suanse Project on Company’s website.
The Llano del Nogal property hosts Laramide equivalent intrusives with alteration varying from propylitic to locally potassic and quartz-sericite. The primary copper mineralization is chalcopyrite associated to chlorite-K feldspar pyrite and magnetite veins. Interpretation suggests the presence of a shallowly buried porphyry target. *
The Batamote porphyry copper property controlled by Millrock Resources Inc., located 12 km to the east of Suanse, hosts a main alteration zone extending 6 km by 3 km. Millrock has outlined several copper-moly exploration targets, including hydrothermal breccia bodies, porphyry copper sheeted and stockwork mineralization.*
Christian Grijalva, San Marco’s Vice President stated, “We are fortunate to have been awarded a mineral concession covering part of what we believe is a district scale, highly prospective mineral endowed region. Preparations are being made to initiate an exploration program to evaluate the potential of Suanse “
According to Mexican governmental geological data, the Suanse property overlies a section of a large oxidation and argillization cell, which has an elongated shape trending northeast-southwest and measuring over 8 km along its axis. Associated to this alteration cell are many polymetallic and precious metals prospects hosted by Upper Cretaceous dacitic to andesitic rocks, which in turn are being affected by porphyritic intrusive bodies. Relevant mineral “showings” located within the large alteration cell are Suanse Norte and Suanse Sur prospects which the Mexican geological survey describes as being part of a group of high angle epithermal to shallow mesothermal (Au, Ag, Pb, Zn and Cu) vein systems.
Upcoming Exploration
San Marco geological staff is preparing to do a first-pass ground validation and prospecting work at Suanse. The aim is to assess the alteration cell and look for mineralization within the main Laramide age rock domain and its peripheries, where Late Tertiary (post-mineral) rocks might be obscuring part of any potential mineralized system.
* The geological information on the Llano del Nogal property and the Batamote porphyry copper property have not been verified by the Company, and readers are cautioned not to place undue weight on such information. The information is sourced from publicly disclosed information; The Llano del Nogal property, source Evrim Resources Corp. (www.evrimresources.com) and The
Batamote property, source Millrock Resources Inc. (www.millrockresources.com)
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 a 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:
Christian Grijalva, B.Sc.
Vice President
| For further information, contact: | |
| Nancy Curry | Paul MacDonald |
| info@sanmarcocorp.com | pMacDonald@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.