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
Founded in 2002 and headquartered in Chicago, Nexum® takes a comprehensive approach to security. Nexum approaches business with one simple statement: “Do what’s right for the customer and success will follow.” Nexum helps you mitigate risks, protect your data, increase business continuity and meet your unique business objectives by: Detecting and preventing network threats, intrusions and disruptions Equipping you with the information, tools, training and resources you need to effectively m...
The Transparent Cloud-computing Consortium (T-Cloud) is a neutral organization for researching new computing models and business opportunities in IoT era. In his session, Ikuo Nakagawa, Co-Founder and Board Member at Transparent Cloud Computing Consortium, will introduce the big change toward the "connected-economy" in the digital age. He'll introduce and describe some leading-edge business cases from his original points of view, and discuss models & strategies in the connected-economy. Nowad...
Doug was appointed CEO of Big Switch in 2013 to lead the company on its mission to provide modern cloud and data center networking solutions capable of disrupting the stronghold by legacy vendors. Under his guidance, Big Switch has experienced 30+% average QoQ growth for the last 16 quarters; more than quadrupled headcount; successfully shifted to a software-only and subscription-based recurring revenue model; solidified key partnerships with Accton/Edgecore, Dell EMC, HPE, Nutanix, RedHat and V...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve fu...
Having been in the web hosting industry since 2002, dhosting has gained a great deal of experience while working on a wide range of projects. This experience has enabled the company to develop our amazing new product, which they are now excited to present! Among dHosting's greatest achievements, they can include the development of their own hosting panel, the building of their fully redundant server system, and the creation of dhHosting's unique product, Dynamic Edge.
PCCW Global is a leading telecommunications provider, offering the latest voice and data solutions to multi-national enterprises and communication service providers. Our truly global coverage combined with local, on the ground knowledge has helped us build best in class connections across the globe; and especially in some of the remotest, hard-to-reach areas in exciting growth markets across Asia, Africa, Latin America and the Middle East.
NanoVMs is the only production ready unikernel infrastructure solution on the market today. Unikernels prevent server intrusions by isolating applications to one virtual machine with no users, no shells and no way to run other programs on them. Unikernels run faster and are lighter than even docker containers.
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 ...
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO Silicon Valley 2019 will cover all of these tools, with the most comprehensive program and with 222 rockstar speakers throughout our industry presenting 22 Keynotes and General Sessions, 250 Breakout Sessions along 10 Tracks, as well as our signature Power Panels. Our Expo Floor will bring together the leading global 200 companies throughout the world of Cloud Computing, DevOps, IoT, Smart Cities, FinTech, Digital Transformation, and all they entail. As ...
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...
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO Silicon Valley 2019 will cover all of these tools, with the most comprehensive program and with 222 rockstar speakers throughout our industry presenting 22 Keynotes and General Sessions, 250 Breakout Sessions along 10 Tracks, as well as our signature Power Panels. Our Expo Floor will bring together the leading global 200 companies throughout the world of Cloud Computing, DevOps, IoT, Smart Cities, FinTech, Digital Transformation, and all they entail.
Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. 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 throughout enterprises of all sizes. We are offering early bird savings...
SUSE is a German-based, multinational, open-source software company that develops and sells Linux products to business customers. Founded in 1992, it was the first company to market Linux for the enterprise. Founded in 1992, SUSE is the world’s first provider of an Enterprise Linux distribution. Today, thousands of businesses worldwide rely on SUSE for their mission-critical computing and IT management needs.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Only Adobe gives everyone - from emerging artists to global brands - everything they need to design and deliver exceptional digital experiences. Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. The Company's Digital Media segment provides tools and solutions that enable individuals, small and medium businesses and enterprises to cre...