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San Marco Resources Inc.
Summary
| Project: | Chunibas | |
|---|---|---|
| Deposit: | Chunibas | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 1/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-1-2019: San Marco Resources Inc. announces an Exploration/Drilling Update report for its Chunibas deposit at the Chunibas project. Drilling results incl. 22.0m @ 0.05% Cu, 0.7g/t Ag. Vancouver, B.C. – January 17, 2019: San Marco Resources Inc. (SMN: TS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Robert D. Willis (Internal) | |
| ABSTRACT: | Vancouver, B.C. – January 17, 2019: San Marco Resources Inc. (SMN: TSX-V) ("San Marco" or the “Company”) announces that Phase 1 exploration drilling results from its 100% owned Chunibas copper/silver project, located in Sonora State, Mexico (the “Project”) have been received. San Marco and a wholly-owned subsidiary of Antofagasta plc (“Antofagasta”) have entered into an earn-in agreement to jointly explore and drill test several copper-silver rich mineralized targets mapped on surface. Antofagasta is funding all activities during the Phase I exploration program, to a maximum of US$700,000. Initial results from the program confirm the existence of a typical copper-silver “Manto-Type” system. This initial program consisted of approximately 1,640 metres of diamond drilling distributed over 7 shallow drill holes. Five holes tested 1.2 km of the NW-SE striking mineralized corridor, whilst the remaining two holes tested approximately 400m width along one NE - SW section perpendicular to the corridor. The initial drill campaign achieved and confirmed the down-dip and along strike continuity of alteration, mineralization and receptive rock units mapped on surface. Highlights of the mineralized intervals are as follows San Marco CEO Christian Grijalva stated: “We are pleased that Phase I drill results have confirmed the existence of a copper mineralized system and provided useful third dimension data to assist in vectoring towards the source of mineralization, and potentially higher-grade copper zones. The Company’s goal is to identify a sizable mineralized “Manto-Type” system with the potential to meet the high thresholds of its partnership with Antofagasta. The first phase drill program was designed to broadly test the target for certain geological characteristics associated with the type of deposit sought. The Company and its partner will evaluate the latest data for ongoing exploration and vectoring guidance in planning a next phase of exploration.” Final interpretation of drilling results will continue through Q1, to help vector towards areas which may host feeder zones of higher-grade mineralization | |
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