Vancouver, B.C.-January 26, 2012: San Marco Resources Inc. (TSX-V: SMN.V), is continuing exploration on its Los Carlos gold/silver prospect in Sonora, Mexico. The property is located 40 km west of the town of Trincheras, 18km south of GoldGroup’s Cerro Colorado mine and 85 km west of Timmins Gold’s San Francisco mine.
Ongoing exploration activities include surface sampling of the rhyolite porphyry host rock as well as the higher grade structures, completion of an Induced Polarization survey and compilation of historical data provided to the Company by the optionors. First phase of drilling is expected to commence mid-February and will consist of 1500m over a minimum of 6 holes.
Los Carlos has many historical workings apparently 80 – 100 years old, which targeted gold and silver in 1 – 3 metre (m) wide oxidized shear structures. Sample results provided by the optionors indicate ranges of 5 – 30 grams per tonne (g/t) gold and 20 – 200 g/t silver from the historical workings. Included in this data is a north-south sample line, each sample being 5.5m in length.
· Results include approximately 300m grading 0.96 g/t gold (assays cut to 3.0 g/t gold). Of the 54 samples, 11 assayed greater than 3.0 g/t gold with the highest grade being 26.0 g/t gold.
Also included in the historical data, are assay results of several drill holes (reportedly done by a mine blast hole rig). Drill hole depths ranged from 24m – 105m (drilled at -45 degrees). All holes contained gold mineralization with several holes ending in good grade gold mineralization.
Partial assay results from sampling by San Marco in the same area (excluding sampling the higher grade structures) indicate similar grades, such as 48.6m of 0.71 g/t gold on the south end and 26.0m of 0.51 g/t gold to the north end. Complete results will be released once all in-fill sampling results are received, as well as samples of the higher grade structures. Sampling of additional zones located 300m and 1,000m to the north is complete. These chip and channel samples were taken over 250m – 300m wide mineralized zones.
San Marco Chairman Robert Willis commented; “San Marcos sampling confirms higher grade gold exists in the 1-5m wide EW shear structures. What is important is that the host rhyolite porphyry rocks also contain gold in the 0.2 – 1.0 g/t range. Surface mineralization is highly oxidized and exhibits characteristics of potentially open pit, heap leach style of mineralization. Historical drilling indicates we should expect similar results at depth.”
Rhyolite porphyry outcrop covers most of the property, and in several areas exhibits moderate to intense pervasive silicification. Numerous NW faults are intersected with multiple EW shears/fractures approximately 5m – 10m apart. The intersection of these two orientations appears to provide ample conduits for significant precious metal deposition. The rhyolite host rock between these EW shears contains abundant veinlets and micro vienlets where gold grades range from 0.1 g/t – 2.0 g/t gold, again highly oxidized. Property geology appears to be very similar to Goldgroup’s Cerro Colorado heap leach mine to the north.
All samples were sent to SGS labs in Durango, Mexico under a strict chain of command protocol. Samples were assayed for gold by fire assay procedures and other elements by ICP.
The technical information contained in this press release has been approved 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. He has verified the data disclosed through a review of reports and summaries provided by the optionors.
For further information contact:
Robert D. Willis
Chairman & CEO
604-813-2606
[email protected]
Mike Mallard
Vice President
604-506-3776
[email protected]
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
