San Marco Announces Executive Appointment and Warrant Exercise
VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- San Marco Resources Inc. (TSX-V:SMN) (“San Marco” or “the Company”) announces the appointment of Christian T. Grijalva as Vice President of San Marco and San Marco Resources, Mexico SA de CV. Previously, Christian was Manager of Projects for the Company, overseeing all Mexico operations.
Robert Willis, San Marco’s CEO stated, “A significant part of building a strong exploration team is recognition of leadership skills. Chris has not only assembled an experienced, quality geological team, but he has been instrumental in successfully advancing our 1068 Project to drill readiness, and responsible for our recent copper/silver discovery at our Chunibas Project.”
During the period January 9th – 26th, 2018, a total of 1,390,250 warrants were exercised at $0.15 each for proceeds of $208,537.50. Any unexercised warrants associated to the financing completed January 29th, 2015 expired on January 28, 2018.
Ongoing exploration includes;
- Review of the results of the recently completed I.P. survey at the Company’s 100% owned 1068 porphyry copper/gold/moly project. This undrilled property is expected to have drilling arranged in Q1.
- Continued exploration at the Company’s 100% owned Chunibas property. Focus will initially be on the recent copper/silver discovery, a surface footprint which continues to expand. Results of preliminary metallurgical analysis will be released shortly.
- Release of assay results of recently completed continuous chip/channel sampling at the new Chunibas copper/silver discovery, expected in a few weeks.
- Detailed rock chip sampling to be initiated on two targets identified from the Company’s Globetrotters partnership. Rock chip samples are intended for both geochemical and SWIR spectroscopy studies.
- New property acquisition opportunities being evaluated.
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 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:
Robert Willis, P. Eng.
President & CEO
For further information, contact:
Nancy Curry
info@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.