Phase 2 Diamond Drilling Underway at San Marco's Buck Gold and Silver Property, Central British Columbia; Red Cloud Appointed to Provide Marketing Services
Vancouver, British Columbia--(Newsfile Corp. - September 8, 2020) - San Marco Resources Inc. (TSXV: SMN) ("San Marco" or the "Company") is pleased to announce the commencement of diamond drilling at its 100% controlled Buck gold and silver property. The aggressive fully-funded drill program is expected to continue well into next year, with an initial 5,000 metres planned over the next few months. The current Phase 2 drill program compliments and builds on Phase 1 success and is designed to test the lateral and vertical extent of epithermal-related mineralization within the Buck structural corridor.
The Buck property is located about 12 km south of Houston, British Columbia, and is accessible via an all-weather access road. It has excellent nearby infrastructure, and allows for year round exploration. The 100% optioned property was recently expanded through the acquisition of additional ground, and now totals 22,000 hectares (see news release from August 10, 2020).
Bob Willis, San Marco's CEO, commented, "We are very excited to begin our second phase of drilling at Buck. Our recent completion of an extensive field program has given us a much better understanding on the controls of Buck-style mineralization and gives us confidence that we're on the right track for additional discoveries."
A comprehensive geological data compilation and structural interpretation has resulted in the definition of a significant mineralized breccia complex. The breccia complex is comprised of intrusive breccias, magmatic-hydrothermal breccias, hydrothermal breccias, pebble-dikes and a thick, intermediate to felsic volcaniclastic pile. This breccia system is transected by a property-scale WNW-trending structural zone, named the Buck structural corridor, which is thought to be a first-order control on mineralization throughout the property. Phase 2 drilling will target both structurally controlled high-grade epithermal-related Au-Ag, as well as bulk-tonnage epithermal-related Au-Ag. More information about the recent field program is described in San Marco's August 6, 2020 news release.
Results from the drill program will be released as they are received and compiled.
Health and Safety
The Company's 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.
Red Cloud
San Marco is also pleased to announce that it has retained Red Cloud Financial Services Inc. to provide an extensive array of corporate access services including marketing, media, and online. The agreement between Red Cloud and the Company is for a minimum of six months and the Company has agreed to pay Red Cloud $10,000 per month during the term. Such payments will be made from San Marco's general working capital. After the initial six month period, the engagement may be terminated by either party with one month written notice.
About Red Cloud
Red Cloud Financial Services Inc. is a full service mining finance firm that provides a comprehensive suite of services focused on enhancing its client's capital market brand and improving their access to capital.
The Red Cloud team has a mix of technical and financial expertise with over 300 cumulative years of combined mining and corporate finance experience. Working as an extension of management, the Red Cloud team uses its global network of mining and capital markets professionals and extensive in-house experience in the many facets of the mining business to help companies identify sources of capital and quality actionable merger, acquisition and divestiture opportunities, and to generate and maintain important relationships with key investors.
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 is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property located in a mining-friendly region that 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/63317