Welcome!

News Feed Item

San Marco Acquires Cuatro de Mayo Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/14/14 -- San Marco Resources Inc. (TSX VENTURE: SMN) ("San Marco" or "the Company") has signed an agreement (the "Agreement") granting the Company an option to acquire a 100% interest in the Cuatro de Mayo Project in eastern Sonora State, Mexico, subject to regulatory approval including the approval of the TSX Venture Exchange.

The Cuatro de Mayo project comprises roughly 18,500 hectares in nine exploration concessions located 160 km east of Hermosillo, Mexico. The property hosts numerous styles of mineralization including: CRD-type (mantos, skarns) silver-lead-zinc showings; high-sulfidation epithermal volcanoclastic-hosted gold showings; and, mesothermal silver showings. Old mineral workings have been noted throughout the property. Surface channel sampling by San Marco at the entrance to one such historic working returned 124 g/t silver, 0.86 g/t gold and 4.7% lead over 9.5 m in one sample, and 197 g/t silver, 0.89 g/t gold, 7.1% lead and 0.22% zinc over 2.0 metres in a second sample. San Marco is in the process of prioritizing targets at the Cuatro de Mayo property and formulating an exploration plan in anticipation of drill target definition.

Robert Willis, CEO of San Marco states "The Cuatro de Mayo property provides San Marco with another prospective, low-opportunity cost exploration project with multiple known mineralization styles, and further enhances the Company's existing portfolio of exploration properties in Mexico. Although Cuatro de Mayo is an early stage exploration opportunity, it has many of the hallmarks of other deposits in Mexico currently in operation and we look forward to thoroughly testing its potential."

To acquire a 100% interest in the Cuatro de Mayo Project, San Marco must pay the property owners an aggregate of USD $2.0 million and issue them 50,000 common shares over five years (as per the schedule below), and pay all annual taxes on the concessions. The Agreement also grants the property owners a 3% net smelter returns royalty of which San Marco can purchase 1% for USD $1.5 million at any time and maintain a right of refusal for a third party sale on the entire royalty. A USD $500,000 bonus will be paid to the property owners if 1.0 million or more gold-equivalent ounces are defined in the Proven and Probable Reserve categories according to a NI 43-101 technical report.

----------------------------------------------------------------------------
Anniversary of Signing    Common Shares of SMN           Cash Payments (USD)
----------------------------------------------------------------------------
Upon signing              50,000                                           -
----------------------------------------------------------------------------
1 year                    -                                          $10,000
----------------------------------------------------------------------------
1.5 Year                  -                                          $10,000
----------------------------------------------------------------------------
2 years                   -                                          $10,000
----------------------------------------------------------------------------
2.5 Years                 -                                          $25,000
----------------------------------------------------------------------------
3 years                   -                                          $50,000
----------------------------------------------------------------------------
3.5 years                 -                                         $100,000
----------------------------------------------------------------------------
4 Years                   -                                         $200,000
----------------------------------------------------------------------------
4.5 Years                 -                                         $810,000
----------------------------------------------------------------------------
5 Years                   -                                         $785,000
----------------------------------------------------------------------------
Total                     50,000                                  $2,000,000
----------------------------------------------------------------------------

About San Marco

San Marco Resources Inc. is a Canadian mineral exploration company with a current portfolio of four promising properties in mining-friendly Mexico and an aggressive project generation program focused on high-calibre, low-opportunity cost projects. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.

National Instrument 43-101 Disclosure

The technical information contained in this document has been verified, and this news release has been approved, by San Marco's CEO, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

Samples discussed in this document were prepared for assay at ALS Chemex Lab in Mexico and assayed at their facility in Vancouver, BC. Assay methodology is as follows. A 30 gram split is analyzed for gold, using the Au-AA23 method. Sample results greater than 10 ppm are re-assayed, using AA23 fire assay and gravimetric finish. For silver, copper, lead and zinc, a multi-element, four acid digestion (ME -- ICP 61) method is used. For initial assays of silver greater than 100 ppm, copper, lead and zinc greater than 10,000 ppm (over limits), the OG62 method is used for re-analysis. Blanks and certified standards are inserted into the sample stream as part of San Marco's quality assurance and control program, which complies with National Instrument 43-101 requirements.

Forward Looking Information

Information set forth in this document includes forward-looking statements, such as: potential exploration plans and programs for the Cuatro de Mayo project; and, the possibility of acquiring additional exploration projects. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. For instance, the execution of any exploration programs planned by the Company will be dependent upon the availability of both human and financial resources, both of which are presently limited. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco's actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements.

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

Contacts:
Robert D. Willis
CEO
604-568-5951
604-813-2606
[email protected]

Barbara Henderson
Investor Relations Officer
604-568-5951
604-789-7689
[email protected]

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
For enterprises to maintain business competitiveness in the digital economy, IT modernization is required. And cloud, with its on-demand, elastic and scalable principles has resoundingly been identified as the infrastructure model capable of supporting fast-changing business requirements that enterprises are challenged with, as a result of our increasingly connected world. In fact, Gartner states that by 2022, 28% of enterprise IT spending will have shifted to cloud. But enterprises still must d...
Cloud-Native thinking and Serverless Computing are now the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, as well as the public sector. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that pro...
The level of trust we have with individuals, businesses, and technology affects our lives daily. This is important to remember when discussing new technologies. For example, our level of trust is a critical factor when evaluating a new technology as a potential solution for providing business value. Given the importance of trust, imagine one's reaction upon hearing that blockchain is a "trustless trust" system. On the surface, that does sound like an oxymoron. This paper discusses how "trustless...
Public clouds dominate IT conversations but the next phase of cloud evolutions are "multi" hybrid cloud environments. The winners in the cloud services industry will be those organizations that understand how to leverage these technologies as complete service solutions for specific customer verticals. In turn, both business and IT actors throughout the enterprise will need to increase their engagement with multi-cloud deployments today while planning a technology strategy that will constitute a ...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
Moving to Azure is the path to digital transformation, but not every journey is effective. Organizations that start with a cohesive, well-planned migration strategy can avoid common mistakes and stay a step ahead of the competition. Learn from Atmosera CEO, Jon Thomsen about the opportunities and challenges found in three pivotal phases of the journey to the cloud: Evaluation and Architecting, Migration and Management, and Optimization & Innovation. In each phase, there are distinct insights tha...
Most modern computer languages embed a lot of metadata in their application. We show how this goldmine of data from a runtime environment like production or staging can be used to increase profits. Adi conceptualized the Crosscode platform after spending over 25 years working for large enterprise companies like HP, Cisco, IBM, UHG and personally experiencing the challenges that prevent companies from quickly making changes to their technology, due to the complexity of their enterprise. An accomp...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
Andrew Keys is co-founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereum.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy. Bill has a very impressive background which includes ...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions. New research shows that delivering on multicloud e...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...