San Marco Readies Tecomate for Drilling
July 20 2010 - 8:00AM
Marketwired
San Marco Resources Inc. (TSX VENTURE: SMN) (The Company) is
pleased to report that recent exploration efforts at its 5930
hectare, 100% owned gold/silver Tecomate project in Mexico , has
identified several drill targets associated with potential bulk
tonnage style geology and mineralization . Tecomate, located 80
kilometers east of Mazatlan, is an epithermal and low sulphidation
system and is associated with overlapping collapsed calderas in an
andesitic package of Tertiary volcanic of the Lower Volcanic Group.
Chairman Robert Willis stated; "Our original thinking at
Tecomate was that a very dynamic and widespread mineralized system
is hosted on the property. So far initial exploration has confirmed
that model. We expect to ramp up our exploration efforts though
scout drilling and more detailed regional reconnaissance. This is a
very large property with numerous known mineralized occurrences
that will be the focus of our exploration."
Surface sampling by a previous owner primarily explored the Main
Zone (Tecomate location map:
http://www.sanmarcocorp.com/files/tecomate_loc.pdf) where
continuous chip channel sampling returned up to 42m averaging 0.81
grams per tonne gold within a corridor of quartz veinlet stockworks
in sericitized volcanics up to 100m wide and 400m long. This area
was the focus for artisanal workings where grab samples from old
workings returned gold values up to 22 grams of gold per tonne,
from narrow shears within wider sericitized quartz stockwork
zones.
Recently, as drill pad access trails were being constructed as
well as limited reconnaissance sampling, 2 new drill target areas
have been identified. Approximately 1km southeast of the Main Zone
, three trenches 100-120m in length and 100m apart, were
constructed in an area where a previous owner had continuous chip
sampled 33m averaging 0.52 grams of gold per tonne and 21.6 grams
of silver per tonne. This area has been named the "SE Zone". At the
eastern end of 2 trenches, results include 20.2m of 0.43 grams of
gold per tonne and 15.6 grams of silver per tonne, and 18.0m of
0.89 grams of gold per tonne and 11.4 grams of silver per tonne.
Mineralization continued to the end of the trench where thick
colluvium cover prohibited further hand trenching. At the west end
of these two trenches, intermittent 1 - 2 m samples ranged from
0.50 to 0.85 grams of gold per tonne and 25 to 44 grams of silver
per tonne. Again, thick colluvium limited extending these trenches
westward.
Approximately 1.3 km south of the Main Zone and 400m to the west
of the above SE Zone, recent reconnaissance exploration discovered
additional old workings where continuous chip sampling of quartz
stockworks and silicified breccia in sericitized volcanics returned
values of 1.35 to 5.65 grams of gold per tonne and averaged 2.5
grams of gold per tonne and 9.5 grams per tonne silver over 6.1m.
This breccia occurs within an envelope of sericitized volcanics
containing quartz veinlet stockwork mineralization that is many
tens of meters wide. The length of this new zone is unknown;
however additional workings have been discovered 400m along trend
to the southeast. Sampling of these new areas continues and
reconnaissance work will be escalated using additional geological
personnel. At least four additional known artisanal working areas
exist to the northwest have yet to explored. All currently known
workings extend over 4km, within a 1.5km wide northwest trending
structural corridor.
The Company will commence an initial 1200m diamond drill program
once drill pads have been completed. This drill campaign will test
at least 3 targets and will be the first drill program at
Tecomate.
San Marco has granted stock options to certain of its directors,
employees and consultants according to the company's Stock Option
Plan, to purchase an aggregate of 765,000 common shares at a price
of $0.30 per share for a period of five years.
The technical information contained in this press release has
been based on information reviewed by San Marco's President, 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.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: San Marco Resources Inc. Robert D. Willis Chairman
& CEO 604-813-2606 rdwillis@telus.net San Marco Resources Inc.
Mike Mallard 604-506-3776 mmallard@sanmarcocorp.com
www.sanmarcocorp.com
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