Vancouver, B.C. – November 1st, 2016: San Marco Resources Inc. (SMN: TSX-V) (“the Company” or “San Marco”) announces that surface right access agreements have been reached with the local ejidos (community landowners) at the Company’s 100% controlled Chunibas project, Sonora, Mexico. The agreements are an essential step, allowing San Marco to advance the permitting process for planned mechanical trenching and drilling at Chunibas. The agreements are for an indefinite period, and are subject to reasonable annual payments.
Chunibas mineralization consists of variably oxidized, shear / vein gold occurrences, hosted in an intermediate intrusive of Cretaceous age. The area contains numerous prior workings, which testify to the presence of locally high-grade free gold in the near surface. Past workers completed several widely spaced reconnaissance RC drill holes at varying orientations in 1997. Results of that drilling included the following near surface intercepts*;
- 1.04 g/t gold over 42.6 metres, including 1.25 g/t gold over 30.4 metres.
- 2.04 g/t gold over 22.9 metres, including 4.4 g/t gold over 9.1 metres
- 2.80 g/t gold over 15.2 metres, including 6.20 g/t gold over 6.1 metres.