San Marco Resources Inc. ("San Marco" or "the Company") announces its recent field exploration program at the 100% owned Cuatro de Mayo Project in Sonora, Mexico resulted in the expansion of three previously-identified targets (Chunibas, Valle and Oregano) and the identification of two new targets (Tabacote and Chinos).
San Marco's geologists spent approximately 3 weeks during March mapping, rock- and soil- sampling, and conducting reconnaissance exploration at a number of sites in the Cuatro de Mayo project (described below). Follow-up field work is currently underway.
Summary of the March 2015 Field Program:
Chunibas is a vein target hosted in intrusive rocks that intrude tuff agglomerate. There are several sub-vertical main veins on the property and numerous high-grade iron-oxide shear zones that have been mined by local miners.
Limited historical RC drilling has been conducted at Chunibas, which indicated the presence of mineralization in the intrusive host rock. Modest open cut mining of the oxide zones of some of the veins occurred several years ago.
- Five gold-bearing veins (two of which are newly discovered) identified over a mineralized corridor that is approximately 800m long and 700m wide.
- Soil sampling completed south of the known vein traces indicates gold enrichment may extend further to the south.
- Veins are generally 1-2m wide, and rock chip and channel samples of the veins collected by the Company and previous property owners typically assay between 3 and 18 g/t gold. Highlights include:
- 16.7 g/t gold from the Santa Rosa vein
- 15.5 g/t gold from the Santa Fe vein
- 18.4 g/t gold from the Argentina vein
- 6.6 g/t gold from the newly discovered Gusima-1 vein, and
- 7.6 g/t gold from the newly discovered Western vein.
- Importantly, a continuous rock chip sample of the Santa Fe vein hanging wall rock returned 3.8 g/t gold over 10 meters.
Follow-up work will include additional rock sampling of the Gusima and Western veins, soil sampling south of the main target area to trace potential extensions of the vein system, and vein wall rock sampling where outcrop exists.
Oregano is a low sulphidation high level vein target. There was no previous mining or drilling on this property.
- Three low sulphidation veins (two of which are newly discovered) were identified over an area approximately 3km long and 450m wide.
- Typical low sulphidation textures such as bladed quartz after calcite, crustiform, banded, quartz and coxcomb textures were observed.
- Elevated mercury and antimony indicate that the upper level of veins are exposed at surface.
Follow-up work will include mapping and additional sampling of the known veins, and soil sampling across extensions of the newly discovered two veins.
Valle is a stack of shallow dipping sub-parallel shear zones and dikes hosted in tuff agglomerate. There was no previous mining or drilling on this property.
- New geochemical data led to reinterpretation of the previous geological model.
- New model suggests that the Valle Target consists of multiple sub-parallel mineralized shear zones that are currently traced for over 500m and that the mineralized zone is at least 300m wide.
- Mineralization appears to be fine gold hosted in 100% oxidized rocks.
- Mineralized zone dips at around 30 degrees and it is a drill-ready target.
Follow-up work will include soil sampling with a focus on extending the presently known zone along its strike and identifying additional sub-parallel mineralizes shears.
Tabacote is a high sulphidation (high level) system that has no history of previous mining or drilling.
- It is a newly discovered target approximately 500m x 500m (open in all directions) consisting of mineralization that is indicative of the upper levels of a high sulphidation epithermal system.
- Anomalous silver, lead, antimony and tellurium is hosted in highly siliceous, vuggy silica altered and oxidized dacite and dacitic tuff.
- Follow-up field work will include mapping, rock and soil sampling of the anomalous target area as well as collecting samples for petrography and PIMA alteration studies.
Chinos is a high sulphidation system that has no history of previous mining or drilling.
- It is a newly discovered, potential high sulfidation epithermal target traced along strike for approximately 200m (open in all directions).
- Anomalous gold is hosted in vuggy silica dacite tuffs at the contact with overlying rhyolites.
Follow-up work will include additional sampling, mapping, and PIMA testing of the target area