San Marco Resources Receives Geophysical Results at La Buena Project, Zacatecas, Mexico
March 03 2011 - 7:30AM
Marketwired
San Marco Resources (TSX VENTURE: SMN) (the "Company") reports that
during December 2010, S.J. Geophysics, headquartered in Vancouver,
B.C., carried out an Induced Polarization/Resistivity program on a
portion of the San Marco Resources 100% owned La Buena property in
Zacatecas, Mexico. La Buena is an 8549 hectare property located 8km
north of the Penasquito mine and 3.5km north of the La Negra/Noche
Buena discovery where Goldcorp recently announced a resource of
1.2M ounces of gold and 40M ounces of silver (Goldcorp news release
Feb. 9, 2011).
As reported in the Company's news release dated January 12,
2011, a 1.25 km X 1.0 km gold in soil anomaly was discovered in the
central portion of the property where potassic altered granodiorite
dikes intrude Caracol Formation metasediments (siltstones and
sandstones). This area is now referred to as the Julia Zone.
Continuous 2m chip samples from shallow hand-dug trenches in the
Julia Zone returned anomalous gold values up to 975ppb in
metasediments and up to 247ppb in the potassic altered dikes (gold
geochem).
The SJ Geophysics I.P./Resistivity survey was done within the
Julia Zone and was centered on the area of anomalous gold in soils.
The survey consisted of pole-dipole readings on 50m stations along
200m spaced lines totalling 8.6 line kilometers. In order to
increase the depth of penetration, a follow-up 3D I.P./Resistivity
survey was completed over the same area using 100m spaced stations.
Results of the work indicate that there are intense chargeability
anomalies in the form of halos around intermediate subvolcanics in
the central portion of the Julia Zone. In plan view, the strongest
and largest chargeability halo occurs at a depth of 150m below
surface as a north-south trending ellipse that is roughly 600m long
by 350m wide (150m depth slice I.P.). Chargeability values within
the ellipse are highly anomalous and range from 40ms to 75ms. The
high values are likely a result of the presence of pyrite and to a
lesser extent, argillic alteration. A second northeast-southwest
trending chargeability ellipse that is roughly 400m by 250m in plan
view occurs just to the southwest of a larger chargeability
anomaly. Values within this secondary chargeability anomaly range
from 40ms to 55ms. Resistivity highs occur along the flanks of the
chargeability anomalies and have values of up 1250 ohm/meters. The
resistivity highs are thought to be a result of hornfels formation
and to a lesser extent, silicification (line 700E I.P./Res.).
San Marco has recently negotiated surface access permission with
the local ejido to carry out mechanized trenching of the gold and
geophysical anomalies in the Julia Zone plus a ground magnetometer
survey. Government permission for the trenching is in hand and the
work will target the soil gold anomalies (planned trenches). The
ground magnetic survey will consist of approximately 50 line
kilometers at 100m spacing and 10m spaced stations. The goal of the
ground survey is to add resolution to a previously done
aeromagnetic survey done on 400m spaced lines and to define the
limits of the intrusive rocks in the Julia Zone (airborne mag).
Such rocks are closely associated with ore formation throughout the
region.
San Marco Chairman Robert Willis states; "The objective of our
next phase of mechanized trenching will be to expand and sample an
extensive surface area of rubble covered siltstone/sandstone
intruded by granodiorite dikes, both known to carry gold as
indicated by our limited work to date. This, combined with the
ground magnetic survey will give us a greater degree of confidence
in determining drill targets."
The La Buena project also covers a portion of the Zuloaga ridge
some 2km west of the current Dia Bras drilling being carried out on
the Las Coloradas resource area (See Dia Bras news release dated
February 24, 2011). The La Buena project covers the western
projection of the same package of carbonate rocks that host the
reported resource at Las Coloradas (7.6M tonnes @ 45 gpt silver and
1.75% combined lead + zinc).
Field activities were completed under the direction of Brent
Hendrickson, Vice-President of Exploration for San Marco Resources
who has been working in the region since 2006. 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.
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Contacts: San Marco Resources Corp. Robert D. Willis Chairman
& CEO 604-813-2606 rdwillis@telus.net San Marco Resources Corp.
Mike Mallard Vice President 604-506-3776 mmallard@sanmarcocorp.com
www.sanmarcocorp.com
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