San Marco Resources Inc. announces that diamond drilling has commenced at its 100% owned Chunibas gold/silver project, located approximately 160 kilometres east of Hermosillo, Sonora State, Mexico.
- The Chunibas targets are a series of high-grade gold bearing veins hosted in intrusive rocks
- There are 5 main vein zones; Santa Rosa, Argentina, Santa Fe, Gusima, and Western, which comprise a "mineralized corridor" 750 metres wide and 1.5 kilometres long
- The Company's sampling of the one to two metre-wide structures has resulted in grades up to 46 g/t gold
- The Project enjoys excellent infrastructure and access
- Surface access rights secured
- Additional drilling may be scheduled, based on initial results
The primary objectives of this drilling will be to confirm the presence of higher-grade mineralization within the discrete shear veins, as well as the presence of broad haloes of lower grade Au-Ag within adjacent, sericite - Fe carbonate altered wall rocks. Historical data has been incorporated with the Company's recent exploration work, resulting in field evidence that the north-south trending shear/vein structures coalesce in various zones along strike. This has reinforced the geological model that wider zones of gold mineralization, flanking the high-grade shear structures, some of which continue to be mined by local gambosinos (miners), where grades appear to be in the 15 g/t gold range, exist. *
Mineralization is primarily oxidized at surface, however is expected to transition into sulphides within 50 metres of surface. All holes will be drilled perpendicular to the structures, angled at - 60 degrees and will test 3 targets over 1.5 kilometres of known strike. Recent exploration results have indicated the flanking intrusive wall rock is mineralized with low-grade gold. As a result, the drill program is designed to not only test the potential high-grade structures, but the possibility of a bulk-tonnage opportunity.
An initial 500 - 600 metres over 4 holes are scheduled, with the possibility that, pending assay results, the drill program may be expanded to continue throughout the summer months.
Initial assay results will be released as they are received and compiled and are expected by the end June. In addition, baseline metallurgical test work will also be completed, with the objective of determining precious metals recoveries as a function of degree of oxidation.
*See the Company's website for historic reverse circulation drill results