Mr. Christian Grijalva reports
SAN MARCO ANNOUNCES DRILLING HAS COMMENCED AT THE CHUNIBAS CU-AG PROJECT
Diamond drilling has commenced at San Marco Resources Inc.'s 100-per-cent-owned Chunibas copper-silver project, located in Sonora state, Mexico. San Marco and a wholly owned subsidiary of Antofagasta PLC have entered into an earn-in agreement to jointly explore and drill test several copper-silver-rich mineralized targets. For further detailed information about the agreement, please see company's news release dated Aug. 9, 2018.
The primary focus of this drilling will be to confirm the down-dip and along strike projections of high-grade copper-silver mineralization, as well as to test for the presence of additional mineralized mantos. The company's recent exploration work confirms the presence of various mineralized zones along strike and at different stratigraphic levels. This has reinforced the company's manto-type geological model and as a result, the drill program is designed to not only test the potential high-grade mantos, but the possibility of a significant large scale-size opportunity.
An initial 1,500 metres over six holes are scheduled with the possibility that additional drilling may be conducted, based on initial results.
San Marco chief executive officer Christian Grijalva stated: "We're very pleased to announce the start of a maiden drilling program at our Chunibas property. Chunibas represents a typical volcanic-hosted copper-silver stratiform system which was previously unexplored. This kind of mineralization was also previously unknown to Mexico and represents a very unique exploration endeavour. The drilling campaign will target higher-grade areas to confirm down-dip and strike extensions."
Highlights include:
The Chunibas targets are several copper-silver-bearing mantos hosted in volcanic rocks. Copper-rich sulphides such as bornite, chalcocite, covellite and idaite predominate, and are locally replaced by copper oxides.Recent surface work included 38 rock chip samples, of which 26 per cent assayed greater than 1 per cent copper and 50 per cent greater than 0.2 per cent copper (see news release dated Jan. 16, 2018). The manto type mineralization occurs along a "mineralized corridor of approximately 1.7 kilometres of strike and at least 300 metres of width.*Previous rock sampling has included grades up to 6.41 per cent copper and 65.6 grams per tonne silver (see news releases dated Jan. 10 and Jan. 16, 2018).The project has excellent infrastructure and access.Surface access rights secured.
Mineralization comprises copper oxides and primary copper sulphides such as bornite, chalcocite, digenite, covellite and idaite. Mineralization is partially oxidized at surface, though still with significant sulphide content, and is expected to transition into sulphide-only mineralization down dip. All holes will be distributed along strike, angled at minus 70 and minus 75 degrees and will test six targets over 1.4 kilometres of the 1.7-kilometre known strike extension. Recent exploration results have indicated the mineralized corridor might include additional mineralized mantos.
* For related images, please visit the Chunibas project on the company's website.
About San Marco Resources Inc.
San Marco Resources is a Canadian mineral exploration company with a portfolio of promising projects in mining-friendly Mexico, including the Espiritu SMR, Mariana and 1068 projects in Sonora state.
San Marco actively pursues strategic project generation program focused on high-calibre, low acquisition cost opportunities in northwestern Mexico. The company has a committed management team with extensive experience in Mexico and a proven record of building shareholder value. San Marco currently has issued and outstanding shares of 67,716,000.
National Instrument 43-101 disclosure
This news release has been approved by San Marco's co-chairman, Robert D. Willis, PEng, 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.
San Marco 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.
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