San Marco Resources Inc. (TSX VENTURE:SMN) is continuing exploration at its 100% optioned Angeles property in Sonora State, Mexico. Detailed geological mapping and hand trenching is being carried out, approximately 1.5 km to the west from the old underground workings, where significant gold and silver assays were reported (News Release dated October 11th, 2012).
Intermittent surface exposure of the primary Angeles fault structure continues for about 2 km to the west. Highlights of assay results from trenching across this hematite rich structure include:
-- 4.9 g/t gold and 59.4 g/t silver over 4.9 meters.
The above interval includes:
-- 5.9 g/t gold and 80.1 g/t silver over 3.1 meters.
Approximately 35 meters farther to the west, limited outcrop assayed:
-- 5.14 g/t gold and 80.1 g/t silver over 1.5 meters.
In addition, the Company has staked 12,042 hectares, adjacent to the Angeles property. This new land position was acquired to cover potential extensions of currently known surface mineralized fault structures, as well as newly discovered old pits, shafts and other workings located over an area 2 - 3 km to the south. The Angeles property now consists of a total of 12,404 hectares.
The Company's Chief Executive Officer, Bob Willis, commented, "Exploration results continue to support our original theory that multiple exploration targets exist over at least 3 km of strike at Angeles, exhibiting similar gold and silver grades to 100 year old underground workings. With the addition of our recently staked significant land position, which covers similar mineralized surface workings, San Marco has an opportunity to provide our shareholders with a substantial discovery opportunity."
A 20 kg sample was taken from the main Angeles structure in the old underground workings, approximately 100 vertical meters below surface. Assay results (previously reported in News Release dated October 11th 2012) in the area of this sample are: 5.93 g/t gold, 59.2 g/t silver and 1.35% copper. Petrographic studies, confirmation grade assaying, as well as some initial metallurgical testing, are being carried out on this sample, the results of which are expected in 2 weeks.
Compilation of geological mapping, geophysics and geochemistry is expected to be completed by mid-December in preparation for Phase 1 drilling.
The technical information contained in this press release has been verified, and this news release has been approved, by San Marco's CEO, Robert D. Willis, P. Eng., a 'qualified person' for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
San Marco Resources Inc.
Rick Peterson - Corporate Finance Consultant
604-913-9419 or 604-868-3164
CAN (Toll Free) 1-888-888-9122
USA (Toll Free) [email protected]
San Marco Resources Inc.
Robert D. Willis
604-568-5951 or [email protected]