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San Marco Resources Inc (3)
Symbol SMN
Shares Issued 32,746,398
Close 2020-06-23 C$ 0.265
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San Marco begins exploration at Buck

2020-06-23 08:33 ET - News Release

Mr. Bob Willis reports

SAN MARCO MOBILIZES FIELD CREW AND COMMENCES 2020 EXPLORATION PROGRAM AT BUCK PROPERTY, CENTRAL B.C.

San Marco Resources Inc. has mobilized a field crew on its flagship gold/silver/zinc Buck property in north-central British Columbia. The 100-per-cent-optioned property consists of 15,000 hectares and is located just south of the town of Houston, B.C.

Highlights include:

  • Geological mapping, structural analysis, and geochemical sampling to be completed;
  • Multiple targets identified on the property through historic data compilation;
  • Continuous rock chip intervals in the Trench zone include 48 metres of 2.96 grams per tonne Au, 48 metres of 2.61 g/t Au and 45 metres of 1.82 g/t Au (1);
  • Significant drill hole intercepts in the Trench zone include 30.8 metres of 2.70 g/t Au, 33 g/t silver and 12.0 metres of 1.06 g/t Au and 25 g/t Ag (1);
  • Phase 2 drill program to commence within weeks of fieldwork completion.

The team has begun on-site field reconnaissance and preparation for the summer 2020 exploration program, with geologists arriving shortly.

San Marco's chief executive officer, Bob Willis, states: "We are excited to begin fieldwork at the Buck property. We have a number of excellent drill targets generated through historic data compilation and are keen to get on site, evaluate their priority and get the drill turning again. The geology at Buck appears very similar to the geology at the Blackwater deposit, recently acquired by Artemis Gold from New Gold Inc. We're producing the first compilation of historic results from multiple sources. This is generating very compelling targets in several lightly explored areas kilometres away from the bulk of historical work. Results from these new target areas are still being refined and will be released as they are compiled."

The summer exploration program will include geological mapping and geochemical sampling of key exploration targets identified through analysis of historic geological, geochemical and geophysical data compiled by San Marco's technical team. Drilling of multiple targets is planned within a few weeks after the initial fieldwork is completed.

Of particular interest is a zone to the west of the phase 1 diamond drilling program announced on April 8, 2020. Newly recovered records of historic work in the Trench zone includes drilling and geochemical sampling in the form of soil and rock samples, as well as rock chip samples taken from trenches. Rock chip samples are noted as continuous three-metre intervals; significant intercepts include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au and 45 metres of 1.82 g/t Au (1).

Continuous rock chip intervals from historic trenching in the Trench zone appear in the "Historic continuous rock chip intervals from trenches" table.

   HISTORIC CONTINUOUS ROCK CHIP INTERVALS FROM TRENCHES

Trench ID        Length (m)        Au (g/t)        Ag (g/t)

Trench 1                48            2.61           25.54
and                     45            1.82           26.26
Trench 2                48            2.96           23.89
Trench 3                 9            0.49            4.43
Trench 4                 6            0.53            4.05
and                     33            0.63           18.78
and                     12            0.34            6.28
Trench 5                27            0.53           11.52
Trench 6                18            0.29            1.95
and                     12            0.57            5.58
and                      6            0.47           11.50
and                     12            0.23            8.43
Trench 7                 3           10.00            2.00
Trench 17                9            0.57            6.27
and                      9            0.63            5.97
Trench 24               33            0.57           12.11
and                      9            0.53           25.75
Trench 25               39            0.88           21.26
and                     12            0.40           21.75
Trench 51               12            0.46            3.15
and                      6            4.85           26.65
and                      3            3.40            2.60

* Individual rock chip samples are three metres in length.

Historic drilling in the Trench zone also identified continuous near-surface mineralization, including 30.8 metres of 2.70 g/t Au and 33 g/t Ag, and 12.0 metres of 1.06 g/t Au and 25 g/t Ag (1). Significant drill hole intercepts within the Trench zone appear in the "Historic drill hole intercepts" table.

                         HISTORIC DRILL HOLE INTERCEPTS

Hole ID         From (m)        To (m)    Length (m)*     Au (g/t)      Ag (g/t)

84-13               6.7         150.0         143.3          0.75             9
Includes           10.0          40.8          30.8          2.70            33
85-20              18.0          30.0          12.0          0.94            19
85-21              75.0          90.8          15.8          0.45             4
85-23              18.0          30.0          12.0          1.06            25
85-25               6.1         102.1          96.0          0.35             7
Includes            6.1          45.0          38.9          0.61            10
85-28               3.5         122.5         119.1          0.31             4
Includes            3.5          21.0          17.5          0.90            12
88-01              24.6          47.2          22.6          0.58            13
 
* Drill core length, not true lengths.

The 2020 exploration program will be carried out in compliance with federal, provincial and municipal guidelines established in response to the global COVID-19 pandemic. Strict safety protocols will be in place to protect the health of employees, contractors, consultants and their families.

Change of chief executive officer

San Marco also announces the appointment of Bob Willis as CEO. Mr. Willis previously held the role of executive director. This change was made following the company's annual general meeting held on June 11, 2020.

(1) The drill and rock chip results were obtained from parties that previously explored the property. The company believes the significant intercepts to be accurate and comply with industry best practices at the time of drilling.

About San Marco Resources Inc.

San Marco is a Canadian mineral exploration company actively pursuing world-class gold, silver, zinc and copper projects with a focus in mining-friendly jurisdictions in both British Columbia and Mexico.

The company's principal focus and asset is the recently optioned Buck property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The company's portfolio also includes the several prospective, early-stage exploration properties in Mexico.

We seek Safe Harbor.

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