Mr. Christian Grijalva reports
SAN MARCO ACQUIRES ESPIRITU SMR POLYMETALLIC PROPERTY: INCREASES DISTRICT SCALE EXPLORATION FOOTPRINT IN THE SAHUARIPA DISTRICT OF EASTERN SONORA STATE
San Marco Resources Inc. has been awarded the Espiritu SMR property in the Mexican government's recent mineral concession lottery.
Espiritu SMR is located approximately 230 kilometreseast of Hermosillo and 15 kilometres east of the town of Sahuaripa. This new land acquisition covers approximately 2,712 hectares and is located less than 30 kilometres southeast of the company's Chunibas and 1068 projects, increasing San Marco's exploration footprint at a district scale.
The property is located along a northwest structural trend that, less than 100 kilometres to the south,hosts the La India and Mulatos gold mines, which are being operated by Agnico Eagle and Alamos Gold,respectively.
Based on available data from the Mexican geological survey (SGM), Espiritu SMR overlies a window of premineral Cretaceous volcanic and sedimentary rocks intruded by Laramide-age granitoids. According to the SGM data, Espiritu SMR covers portions of the San Felipe mineralized zone, a group of epithermal-to-mesothermal (gold, silver and lead) vein systems.
Christian Grijalva, San Marco's vice-president, stated: "We believe the Espiritu SMR property is highly prospective ground demonstrating significant upside exploration potential. The geological endowment warrants further exploration efforts with modern-day vectoring and targeting tools. Preparations are being made to initiate an exploration program to evaluate the overall potential of Espiritu SMR, which is the host for both porphyry gold-copper-moly[bdenum] and silver-lead-zinc replacement mineralization."
Previous exploration
The ground underlying Espiritu SMR's property has been subjected to several exploration campaigns by other exploration companies. The most recent exploration work was conducted by Kootenay Gold Inc. and various third party partners through option agreements. According to the information disseminated by Kootenay Gold, the property has the following characteristics*:An extensive area of polymetallic vein, stockwork, breccia and gold-copper porphyry mineralization;Mineralization and alteration are hosted along a five-kilometre east-northeast-trending structural corridor that measures between one kilometre and two kilometres in width;Two zones of mineralization have been recognized; the northeast zone (dominated by a porphyry setting) is separated by a major fault from the southwest zone (dominated by veins and stockworks of precious metal and base metal mineralization); Fifty-eight grab samples from the polymetallic southwest zone reported significant assays from veins that averaged 226 grams per tonne silver, 1.58 per centlead and 1.57 per centzinc with associated gold and copper values of 0.18 gram per tonne and 0.15 per cent, respectively.
Historical drilling results
On May 7, 2010, Kootenay Gold and its partner, Klondike Silver Corp., reported the completion of 10 diamond drill holes totalling 2,135 metres. Drilling was designed to test mineralization within a copper-gold porphyry system over the northeastern zone, covering an area of 1,200 metres by1,800 metres underlain by a zoned alteration sequence and stockwork marked by intense secondary leaching. As a result, secondary copper mineralization was encountered within the stockwork and leached zone, which also reported interesting gold and silver values along significant long intercepts*.
Selected drill results include:
Drill hole ESP-02-09: 48.00 metres of 0.19 gram per tonne gold, 0.10 per cent copper,2.0 grams per tonne silver, including 1.50 metres of 1.80 gram per tonne gold, 0.07 per cent copper, 2.0 grams per tonne silver; Drill hole ESP-06-10: 220.50 metres of 0.14 gram per tonne gold; 0.15 per cent copper and1.1 grams per tonne gold.
Kootenay Silver Inc. and its partner Pinecrest Resources Ltd. conducted the latest exploration works at the former Espiritu property. On June 15, 2012, Kootenay Silver announced the completion of five diamond drill holes totalling 409 metres in two of seven known silver-rich mineralized areas from the southwest zone of Espiritu property.
Selected drill results include:
Drill hole ESP-12-01: 41 metres at 9.0 grams per tonne silver,537 parts per million copper and1,268 parts per million zinc, including 11.0 metres of 26.2 grams per tonne silver, 1,388 parts per million lead and 2,762 parts per million zinc (end of hole: 99.0 metres); Drill hole ESP-12-04: 8.5 metres of 12.4 grams per tonne silver, 420 parts per million copper,582 parts per million lead and730 parts per million zinc;37.5 metres of 569 parts per million copper and 65 parts per million molybdenum, including 1.0 metre of 38.0 grams per tonne silver, 670 parts per million copper, 960 parts per million lead and 1,580 parts per million zinc (end of hole: 82.0 metres).
*The foregoing geological information on the Espiritu property obtained from Kootenay has 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 onthe Espiritu property (source: Kootenay Silver website).
Details of the sampling methods, handling and quality control methods used in the generation of the foregoing historical technical data are unknown to San Marco, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the company's qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian securities administrators.
Coming exploration
San Marco geological staff are preparing to do a first-pass ground validation and prospecting work at Espiritu SMR. The aim is to assess the mineralized zones of the main Laramide-age intrusive rocks, which include the Espiritu porphyry copper-molybdenum (plus or minus gold) prospect. Exploration efforts will also dedicated to the polymetallic mineralized system of the southwest zone of Espiritu SMR, where evidence for high-temperature carbonate replacement mineralization has been documented by past explorers.
About San Marco Resources Inc.
San Marco 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.
NI 43-101 disclosure
This news release has been approved by San Marco's chief executive officer, Robert D. Willis, PEng, a qualified person as defined in NI 43-101 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 and quality control 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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