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July 16, 2019, 9:03 a.m. EDT

San Marco Announces Option to Acquire 100% Interest in Buck Gold-Silver Project, Northern British Columbia

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Vancouver, British Columbia--(Newsfile Corp. - July 16, 2019) - San Marco Resources Inc. /zigman2/quotes/202922457/delayed CA:SMN +20.00% ("San Marco" or the "Company") is pleased to announce it has entered into an option agreement whereby San Marco has the right to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold/silver zinc property near the town of Houston in north-central British Columbia.

The optionors are Dick Billingsley, and his wife, Gaye Richards, who notably vended the Tatogga project in the Golden Triangle to GT Gold Corp.

The Buck Property highlights include:

  • large hydrothermal system, intensely altered and oxidized breccia bodies possibly diatreme related, all mineralization is open in all directions.

  • considered to be part of the Telkwa Formation of the lower Jurassic Hazelton Group; similar to some major bulk tonnage gold deposits in B.C., such as NewGold's Blackwater-Davidson deposit;

  • close proximity to several former operating mines: Equity Silver, (Equity Silver Mines Inc.), Endako (Centerra Gold Inc.) and Huckleberry (Imperial Metals Corporation);

  • total of 68 prior drill holes have been conducted within the property - most holes ended in gold/silver/zinc mineralization. Mineralization extends up to 300 meters below surface suggesting bulk tonnage gold/silver/zinc potential;

  • excellent exploration potential for possible new discoveries at multiple untested targets including porphyry copper deposit; high grade, structurally controlled gold/silver mineralization; and additional mineralized breccia bodies.

  • road accessible with excellent infrastructure, including access to electrical and gas utilities, highways and major airports; and

  • large land package totaling approximately 15,000 hectares

See accompanying location map .



Buck Property Location

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6142/46299_4833c00d04e36a71_001full.jpg

Bob Willis, Executive Director of San Marco stated, "We are pleased to announce the acquisition of an option to acquire the Buck Property. This property represents a significant opportunity for the Company and provides San Marco with an advanced exploration staged gold-silver, zinc project in a prominent exploration region of British Columbia. The Buck Property has seen reliable prior work by notable operators, yet many of the property's prospective exploration targets have gone untested to date. We continue to be bullish on our existing suite of Mexican prospects, but given the Buck Property's clearly delineated targets, excellent location and year-round access and infrastructure, we intend to rapidly explore this new property and identify key target areas towards a drill program within the coming months."

Historical Drilling:

A total of 68 prior drill holes have been drilled on the property - most holes ended in gold/silver/zinc mineralization. Mineralization extends up to 300 metres below surface suggesting bulk tonnage, low grade gold/silver/zinc potential. The Buck property has large volumes of mineralization containing greater than 0.10 grams per tonne ("g/t") gold; greater than 1-3 g/t silver, and strongly elevated, zinc.

Note: the reported grade at the nearby analogous Blackwater-Davidson project is reported to be 0.74 grams per tonne gold.

Selected Highlights of historical drilling:

Intercept 04-01* 84.4 255.1 170.7 0.61 3 0.64 0.3%
Includes
96.6 108.8 12.2 2.58 7 2.66 0.8%
Intercept 45-2 42.7 61.0 18.3 1.03 11 1.15 N/A
Intercept 45-3 21.3 42.7 21.3 0.69 10 0.80 N/A
Intercept 68-1* 0.0 76.2 76.2 0.93 6 0.99 N/A
Intercept 68-2* 0.0 122.5 122.5 0.71 2 0.74 N/A
Includes
33.5 54.9 21.3 1.68 6 1.75 N/A
Intercept 68-4* 0.0 91.4 91.4 0.93 2 0.95 N/A
Includes
27.4 54.9 27.4 2.74 3 2.78 N/A
Intercept 68-5* 0.0 88.4 88.4 0.79 8 0.87 N/A
Intercept 68-6* 0.0 91.4 91.4 0.33 8 0.42 N/A
Includes
12.2 45.7 33.5 0.58 21 0.82 N/A
Intercept 68-7* 0.0 76.2 76.2 0.46 10 0.57 N/A
Includes
0.0 33.5 33.5 0.62 10 0.73 N/A
Intercept 83-04* 99.0 114.0 15.0 0.72 6 0.79 0.2%
Intercept 84-11* 9.8 149.7 139.9 0.36 2 0.38 0.3%
Includes
103.0 149.7 46.7 0.71 4 0.76 0.6%
Intercept 84-13 6.7 150.0 143.3 0.75 9 0.86 0.3%
Includes
10.0 40.8 30.8 2.70 33 3.07 0.9%
Intercept 85-19* 9.9 101.8 92.0 0.57 9 0.67 N/A
Includes
9.9 67.0 57.2 0.83 12 0.96 N/A
Intercept 85-20 18.0 30.0 12.0 0.94 19 1.15 N/A
Intercept 85-21* 75.0 90.8 15.8 0.45 4 0.49 N/A
Intercept 85-23 18.0 30.0 12.0 1.06 25 1.33 N/A
Intercept 85-25 6.1 102.1 96.0 0.35 7 0.43 N/A
Includes
6.1 45.0 38.9 0.61 10 0.71 N/A
Intercept 85-28 3.5 122.5 119.1 0.31 4 0.36 N/A
Includes
3.5 21.0 17.5 0.90 12 1.04 N/A
Intercept 88-01 24.6 47.2 22.6 0.58 13 0.72 0.8%
Intercept 88-02* 16.8 282.6 265.9 0.65 4 0.70 0.4%
Includes
129.5 150.0 20.5 1.36 19 1.57 0.8%
and
187.5 214.0 26.5 2.50 6 2.56 0.8%
Intercept 88-03 84.0 193.5 109.5 0.45 3 0.49 0.5%
Includes
93.0 126.0 33.0 0.53 3 0.56 0.8%
Intercept 90-1* 76.2 239.6 163.4 0.36 5 0.41 0.2%
Includes
146.5 197.0 50.5 0.68 8 0.77 0.4%
Intercept 90-3 129.0 287.7 158.7 0.32 5 0.38 0.1%
Includes
153.7 210.0 56.3 0.45 8 0.54 0.2%

 

* Drill hole ends in mineralization
** AuEq calculated using Au price US$ 1,350/oz and Ag price US$ 15/oz

See accompanying drill section and the Company's website at www.sanmarcocorp.com for more project illustrations and figures.



Buck ProjectSimplified Cross SectionLooking Northwest

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6142/46299_4833c00d04e36a71_002full.jpg

The Buck Property's Background:

The Buck Property is located within a geologically-favourable, mineralized setting that is highly amenable to discovery of economic precious and base metal deposits. Target types include intermediate sulphidation, polymetallic epithermal deposits similar to Blackwater-Davidson, as well as porphyry Cu±Mo±Au deposits similar to nearby active and past-producing mines at Huckleberry and the Babine Lake area.

/zigman2/quotes/202922457/delayed
CA : Canada: TSX Venture
$ 0.33
+0.06 +20.00%
Volume: 226,154
May 22, 2020 3:42p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.80 million
Rev. per Employee
N/A
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