VANCOUVER, British Columbia, Aug. 10, 2018 (GLOBE NEWSWIRE) -- San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company") announces it has agreed to buy a data package and drill core on its Espiritu SMR Property from Kootenay Silver Inc. As payment for the data, San Marco will issue, subject to TSX Venture Exchange approval, 200,000 common shares to Kootenay.
About the Espiritu SMR Property
The Espiritu SMR property is located approximately 230 kilometres east of Hermosillo and 15 kilometres east of the town of Sahuaripa in Mexico. It covers approximately 2,712 hectares and is located less than 30 kilometres southeast of the Company's Chunibas and 1068 Projects.
The Espiritu SMR property covers an extensive prospective area with two mineralized zones; a northeast zone dominated by a copper-gold porphyry setting and a southwest zone dominated by precious and base metal veins. Kootenay Silver Inc. and its partner, Pinecrest Resources Ltd., conducted the most recent exploration on the Espiritu property. On June 15, 2012, Kootenay announced the completion of five diamond drill holes totalling 409 metres in two of seven known silver-rich mineralized areas on the southwest zone of Espiritu property.
Termination of Investor Relations Appointment
San Marco has terminated the appointment of Paul MacDonald as a non-exclusive investor relations consultant to the Company announced on February 14, 2018.
About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of promising projects in mining-friendly Mexico, including the Chunibas, 1068 and Espiritu SMR Projects in Sonora State.
San Marco actively pursues a strategic project generation program focused on high-caliber, low acquisition cost opportunities in North-western Mexico. The Company has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value. San Marco currently has 66,286,082 issued and outstanding shares.
On behalf of the Board of Directors,
Christian Grijalva, B.Sc.
Chief Executive Officer
For further information, contact:
National Instrument 43-101 Disclosure
This news release has been approved by San Marco's Co-Chairman, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.
The Company has implemented quality assurance (“QA”) and quality control (“QC”) programs to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. All sampling programs are carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. Quality control programs appropriate to the type of sample and the mineralization are implemented, including such measures as external blanks, standards and duplicate samples. The security of samples from sample acquisition to analysis is a vital component of the sampling process. Procedures include the use of secure core logging, sampling, storage and preparation facilities as appropriate and the prompt, secure and direct shipping of samples to the laboratories. Appropriate sample security procedures are employed given the geographic and topographic conditions and the logistics created by the site location.
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco's actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.