San Marco Resources Inc. has completed the sale of 3,738,334 units at $0.12 per unit for gross proceeds of $448,600 under its non-brokered unit private placement announced September 26, 2019.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, “After prioritizing in-fill drilling for the better part of 2019, our team is excited to resume focusing on resource expansion with the announcement of drill hole LC19-118. We are particularly excited that this record hole was drilled in the Las Chispas Area which until now has been a secondary priority relative to the high-grade mineralization delineated in the Babicanora Area.”
Bradford Cooke, Endeavour CEO commented, “El Cubo was a good mine for us but our exploration programs in recent years failed to replace reserves and find new resources. We reduced the plant throughput this year in order to explore for new reserves but without success. As forecasted, grades and throughput have been declining all year, which resulted in declining economics of the mine in recent months.”
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