VANCOUVER, BRITISH COLUMBIA, Apr 12, 2012 (MARKETWIRE via COMTEX) — San Marco Resources Inc. (the Company) has acquired by staking, 156 sq. km of highly prospective land (Los Carlos II) adjacent to the Company’s 100% optioned Los Carlos property, where drilling is currently testing the western portion of one of 4 known gold/silver surface occurrences. The Los Carlos II property (15,600 ha.) is located in the prolific “Megashear” in Sonora State, Mexico. Goldgroups Sierra Colorado mine is located 18km to the northwest and Timmins Gold’s San Francisco mine is 85 km to the east.
Regional reconnaissance by the Company’s geological team has identified at least 4 separate areas of old mine workings including, pits, shafts, declines etc. Initial surface sampling and mapping has been initiated on 2 zones; Emma Zone (900 m x 400 m, open in all directions) and 5 km to the east, the JoJo Zone (250 m x 100 m, open in all directions). All areas sampled and mapped so far exhibit classic Megashear low angle faulting and shearing typically found at most of the producing mines in this trend.
The Emma Zone consists of Precambrian gneisses and metamorphosed intrusive rocks which are overlain by a Lower Jurassic sedimentary sequence of sandstones, shale and conglomerates. Two low angle structural systems have been identified and mineralization appears associated with these structures. Chip/channel sampling over 1-2 m has returned:
— 11.35 g/t gold and 12.6 g/t silver
— 10.70 g/t gold and 4.10 g/t silver
Select sample from shear/vein from an old decline:
— 18.9 g/t gold and 30.9 g/t silver
300m to the SE, an open cut approximately 50m X 10m in oxidized sandstones, 1-2 m chip/channel samples returned:
— 0.96 g/t gold; 0.88 g/t gold; and 0.93 g/t gold. Silver ranged from 3.1
– 7.3 g/t.
The JoJo Zone, located 5 km to the east, has the Lower Jurassic sedimentary sequence as the main mineralized host rock. Low angle faults dipping to the NE host many old historical workings where stratabound mineralization in a sequence of sandstone /limestone bedding returned:
— 1.7 g/t gold; 37.2 g/t silver; 2.9% zinc; 0.93% lead; select sample
— 4.7 g/t gold; 65.4 g/t silver; 2.4% zinc; 1.77% lead; select sample
— 0.31 g/t gold; 29.3 g/t silver; 1.74% zinc; 0.80% lead; 1 m channel
sample
Based on results of this first pass sampling program, a comprehensive full scale exploration program to include, trenching, soil geochem, and geological mapping is being prepared.
Chairman Robert Willis, stated, “With this sizable land position in such a highly prospective area of the Megashear, San Marcos geological team is poised to explore the entire property and investigate other old workings known to exist. The Emma and JoJo zones appear to have indications of significant grade and size potential. Some of the geological and structural characteristics that we are learning from the Los Carlos drilling can be applied to ongoing exploration in this newly acquired property.”
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.
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
[email protected]San Marco Resources Inc.
Michael Mallard
V.P. Corporate Communications
604-506-3776
[email protected]www.sanmarcocorp.com
