San Marco Resources Provides 2013 Review and Updates 2014 Exploration Strategy
26 2월 2014 - 7:00PM
Marketwired Canada
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
San Marco Resources Inc.
Robert D. Willis
CEO
604-568-5951 or 604-813-2606
rwillis@sanmarcocorp.com
San Marco Resources Inc.
Sophie Taylor
Corporate Communications
604-568-5951 or 604-219-7976
staylor@sanmarcocorp.com
Sun Summit Minerals (TSXV:SMN)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Sun Summit Minerals (TSXV:SMN)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
