Click here to close now.




















Welcome!

News Feed Item

San Marco Resources Provides 2013 Review and Updates 2014 Exploration Strategy

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/26/14 -- San Marco Resources Inc. (TSX VENTURE: SMN) ("San Marco" or the "Company") is pleased to provide a review of the significant progress made in 2013 and update the strategic plans going forward into 2014. The Company's property portfolio comprises of three active projects in Mexico that potentially host significant mineralized systems. During 2013, two of these projects, La Buena and Angeles, were comprehensively explored and drilled with all expenditures covered by Exeter Resources Corporation ("Exeter" or the "Optionee") as per JV agreements signed in March 2013 (See News Releases: March 4, 2013).

Robert D. Willis, CEO comments; "We believe there is significant value unlocked as a result of exploration activities during our tenure with Exeter as JV partner and feel we are well positioned to build on the work completed to date. Following a series of geological, geochemical and geophysical programs, the technical and management teams analyzed layers of data to identify and recommend a series of compelling drill targets that produced encouraging results. This systematic and methodical approach has defined geological models that continue to support the potential of each project. We are pleased to provide the following highlights:"

La Buena:

During 2013, approximately $1.4 million was expended on the 100% owned property, and included the following programs:


--  HQ core drilling (just under 2,000 metres in four holes)
--  Geological mapping completed in the Julia zone and preliminary mapping
    at the Las Crucitas zone
--  IP Geophysical Survey consisting of 35 line km on a 400 metre x 100
    meter grid
--  Gravity Survey consisting of 13 lines spaced 200 metres apart with
    lengths between 11.2 and 1.6 kms.

The Phase I Drill Program at La Buena comprised just under 2,000 meters over four drill holes. The first two holes were drilled in the Julia zone, where geology, geochemistry and geophysics identified highly prospective targets. An intense IP chargeability high coincident with widespread low grade gold exposed over 125 metres in Trench 14 was the focus of initial drilling. The holes were designed to intersect highly altered calcareous siltstone / sandstone Caracol Formation known to host several mineral deposits in the area including the nearby Penasquito mine. Drill hole LBD 13-02 produced promising results (See Press Release December 3, 2013), the mineralization being consistent with surface trenching.

A gravity survey was also recommended to augment the data set. Since approximately half of the property is overlain by alluvium, the gravity survey is a useful tool in identifying important indicators associated with stockwork, breccia pipe, disseminated and skarn mineralizing systems. Results outlined several additional targets where gravity lows were coincidental to or adjacent to chargeability highs around the Julia zone and at the Las Crucitas zone, 4 km to the east.

The third and fourth holes drilled in late Q4 2013, tested two of these targets. LBD 13-03 located just south of the Julia zone ridge, was terminated at 340m and appears to have been stopped short of an intense I.P. chargeability high. The hole has been cased to allow for the possibility of deepening this hole at a later date. LBD 13-04, collared approximately 200m to the west of LBD13-02, was targeting a gravity low which was interpreted as a possible diatreme. Drilled to a depth of 270 metres, it appears the gravity low is related to a north-south fault system with minimal mineralization.

All drill targets in the Las Crucitas zone to the east, the San Lucas zone to the north and additional targets around the Julia zone have yet to be drilled.

Exeter has advised San Marco that it will not be continuing to fund La Buena exploration, and is therefore withdrawing from the Joint Venture. The Company will begin to entertain site visits and data review by other interested parties, which could lead to their funding of ongoing exploration activities in 2014.

Angeles:

During 2013, $1 million was expended on the 100% optioned property and included the following programs:


--  HQ diamond drilling (2,900 meters in 15 holes.)
--  Metallurgical work was conducted to test metal extraction and recovery
    rates, with positive results.
--  Preliminary geological mapping was conducted within the central portion
    of the property on the L Bonanza, La Verde and La Bota zones.
--  Underground panel samples were collected indicating a significant
    increase in gold grade compared to channel samples taken over the same
    area of the Angeles structure.

The Phase 1 Drill Program targeted two different zones of mineralization in 11 holes on La Bonanza zone and in four holes on La Verde zone. The property has been partially tested over 600 metres of strike and 300 metres down dip primarily in the Bonanza zone which returned high gold and silver mineralization in the Angeles structure. Highlights of drilling include:


------------------------------------------------------------------------
ID Hole                 FROM          TO      WIDTH        Au         Ag

                --------------------------------------------------------
                              (meters)                      g/t
------------------------------------------------------------------------
AD13-03                146.0       152.2        6.2      2.81      63.77
                --------------------------------------------------------
                   Including
                --------------------------------------------------------
                       147.0       152.2        5.2      3.33      71.76
                --------------------------------------------------------
                       147.0       149.0          2      5.18      94.38
                --------------------------------------------------------
                       147.0      148.15       1.15      7.38     141.00
                --------------------------------------------------------
                       151.0       152.2        1.2      5.46     136.00
------------------------------------------------------------------------
AD13-07               166.15       169.7       3.55      3.93      62.67
                --------------------------------------------------------
                   Including
                --------------------------------------------------------
                      166.15      168.65       2.50      5.50      85.80
                --------------------------------------------------------
                      167.05      168.65       1.60      8.17     120.23
                --------------------------------------------------------
                      167.55      168.65       1.10     11.02      87.15
------------------------------------------------------------------------
AD13-09               234.85      237.45        2.6      7.00      24.06
                --------------------------------------------------------
                   Including
                --------------------------------------------------------
                       235.3      236.85       1.55     10.87      19.82
------------------------------------------------------------------------

-----------------------------------------------------------------------
ID Hole             AuEq(i)         Cu         Pb         Zn      Pb-Zn
                                                               Combined
                -------------------------------------------------------
                    g/t                         (%)
-----------------------------------------------------------------------
AD13-03                4.09       0.55       1.16       0.90       2.06
                -------------------------------------------------------

                -------------------------------------------------------
                       4.77       0.65       1.36       0.95       2.31
                -------------------------------------------------------
                       7.07       1.03       1.59       1.27       2.86
                -------------------------------------------------------
                      10.20       0.64       2.50       1.92       4.42
                -------------------------------------------------------
                       8.18       0.73       3.03       1.60       4.63
-----------------------------------------------------------------------
AD13-07                5.18       0.74       1.22       0.63       1.84
                -------------------------------------------------------

                -------------------------------------------------------
                       7.21       1.04       1.68       0.87       2.55
                -------------------------------------------------------
                      10.58       1.57       2.58       0.88       3.46
                -------------------------------------------------------
                      12.76       1.39       3.47       0.16       3.63
-----------------------------------------------------------------------
AD13-09                7.48       0.93       1.05       0.92       1.96
                -------------------------------------------------------

                -------------------------------------------------------
                      11.27       0.88       1.36       1.16       2.51
-----------------------------------------------------------------------
(i) A silver to gold ratio of 50:1 was used for AuEq calculations

The Bonanza Zone mineralization remains open in all directions. In the La Verde zone, low gold values were found and it is interpreted that the mineralized zone is located in the upper part of the epithermal gold system. The Company believes there is significant potential to expand the volume of mineralization, since large drill hole step-outs have shown excellent continuity of mineralization on strike and down dip.

Based on market conditions Exeter Resources Corp elected to withdraw from the option agreement (see News Release: December 3, 2013.) The Company i has been entertaining site visits and data review by other interested parties, which could lead to their funding of ongoing exploration activities.

Los Carlos:

Los Carlos is a project that the Company continues to regard as having significant potential based on its location in the prolific Sonora Mojave Megashear. The Mojave Megashear hosts over 50 gold occurrences including operating gold mines, development projects and highly prospective early stage properties.

During 2012 and 2013, four zones of mineralization were located, based primarily on the occurrence of old "gambusino workings". These occurrences define two northwesterly trending corridors (one of which can be traced intermittently for about 5 km along strike) and are open in all directions. These presently known occurrences all have the attributes of low grade, bulk tonnage gold deposits found elsewhere in this highly mineralized belt. Early reconnaissance work and sampling has indicated that all the low angle shear/fault zones are mineralized with gold grades ranging from 0.5g/t - 18g/t gold, and are highly fractured and oxidized. As well, Satellite Imagery has identified over 150 old workings, pits, shafts over 5 km of strike, which will be the focus of mapping and sampling and trenching to follow once the 2014 exploration work gets underway.

The 100% owned, 15,635 ha, Los Carlos property provides the Company with an outstanding opportunity to add significant value by completing a quick and inexpensive exploration program.

Alwin Mine, BC:

While these three projects in Mexico remain a priority for the Company, the Alwin Mine property in BC remains an interesting prospect. The property is a past, small high grade copper mine. The property adjoins Teck's large Highland Valley land holding and is located within 3 km to the west of the Valley Copper open pit and may well be a westerly extension of this very valuable deposit. Alwin is considered an advanced stage exploration project, where a detailed exploration and production report can be found on the Company's website. The Company is entertaining business proposals for Alwin, since this is a non-core asset.

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.

About San Marco:

San Marco Resources Inc. is a Canadian mineral exploration company aggressively pursuing three promising projects in mining-friendly Mexico. San Marco is currently focused on its Angeles and Los Carlos properties, both located in the prolific Sonora Megashear, as well as La Buena 8 km north of Penasqutio, Mexicos largest open pit gold mine. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.

This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements"), which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. These forward-looking statements are made as of the date of this news release. San Marco Resources Inc. disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...