San Marco Resources Corp
TSX VENTURE : SMN

San Marco Resources Corp

March 03, 2011 07:30 ET

San Marco Resources Receives Geophysical Results at La Buena Project, Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2011) - San Marco Resources (TSX VENTURE:SMN) (the "Company") reports that during December 2010, S.J. Geophysics, headquartered in Vancouver, B.C., carried out an Induced Polarization/Resistivity program on a portion of the San Marco Resources 100% owned La Buena property in Zacatecas, Mexico. La Buena is an 8549 hectare property located 8km north of the Peñasquito mine and 3.5km north of the La Negra/Noche Buena discovery where Goldcorp recently announced a resource of 1.2M ounces of gold and 40M ounces of silver (Goldcorp news release Feb. 9, 2011).

As reported in the Company's news release dated January 12, 2011, a 1.25 km X 1.0 km gold in soil anomaly was discovered in the central portion of the property where potassic altered granodiorite dikes intrude Caracol Formation metasediments (siltstones and sandstones). This area is now referred to as the Julia Zone. Continuous 2m chip samples from shallow hand-dug trenches in the Julia Zone returned anomalous gold values up to 975ppb in metasediments and up to 247ppb in the potassic altered dikes (gold geochem).

The SJ Geophysics I.P./Resistivity survey was done within the Julia Zone and was centered on the area of anomalous gold in soils. The survey consisted of pole-dipole readings on 50m stations along 200m spaced lines totalling 8.6 line kilometers. In order to increase the depth of penetration, a follow-up 3D I.P./Resistivity survey was completed over the same area using 100m spaced stations. Results of the work indicate that there are intense chargeability anomalies in the form of halos around intermediate subvolcanics in the central portion of the Julia Zone. In plan view, the strongest and largest chargeability halo occurs at a depth of 150m below surface as a north-south trending ellipse that is roughly 600m long by 350m wide (150m depth slice I.P.). Chargeability values within the ellipse are highly anomalous and range from 40ms to 75ms. The high values are likely a result of the presence of pyrite and to a lesser extent, argillic alteration. A second northeast-southwest trending chargeability ellipse that is roughly 400m by 250m in plan view occurs just to the southwest of a larger chargeability anomaly. Values within this secondary chargeability anomaly range from 40ms to 55ms. Resistivity highs occur along the flanks of the chargeability anomalies and have values of up 1250 ohm/meters. The resistivity highs are thought to be a result of hornfels formation and to a lesser extent, silicification (line 700E I.P./Res.).

San Marco has recently negotiated surface access permission with the local ejido to carry out mechanized trenching of the gold and geophysical anomalies in the Julia Zone plus a ground magnetometer survey. Government permission for the trenching is in hand and the work will target the soil gold anomalies (planned trenches). The ground magnetic survey will consist of approximately 50 line kilometers at 100m spacing and 10m spaced stations. The goal of the ground survey is to add resolution to a previously done aeromagnetic survey done on 400m spaced lines and to define the limits of the intrusive rocks in the Julia Zone (airborne mag). Such rocks are closely associated with ore formation throughout the region.

San Marco Chairman Robert Willis states; "The objective of our next phase of mechanized trenching will be to expand and sample an extensive surface area of rubble covered siltstone/sandstone intruded by granodiorite dikes, both known to carry gold as indicated by our limited work to date. This, combined with the ground magnetic survey will give us a greater degree of confidence in determining drill targets."

The La Buena project also covers a portion of the Zuloaga ridge some 2km west of the current Dia Bras drilling being carried out on the Las Coloradas resource area (See Dia Bras news release dated February 24, 2011). The La Buena project covers the western projection of the same package of carbonate rocks that host the reported resource at Las Coloradas (7.6M tonnes @ 45 gpt silver and 1.75% combined lead + zinc).

Field activities were completed under the direction of Brent Hendrickson, Vice-President of Exploration for San Marco Resources who has been working in the region since 2006. The technical information contained in this press release has been based on information reviewed 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.

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