San Marco Resources Inc.
TSX VENTURE : SMN

San Marco Resources Inc.

October 11, 2012 09:00 ET

San Marco Samples 8.0 g/t Gold; 42.6 g/t Silver; 0.83% Copper and 1.87% Lead/Zinc at Angeles

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2012) - San Marco Resources Inc. (TSX VENTURE:SMN) has received additional assay results from underground sampling of old workings and reports on additional exploration activities at its Angeles property in Sonora state, Mexico. As previously reported (News Release dated September 10, 2012), the Company's geologists had accessed old underground workings and commenced channel sampling across structures as well as adjacent footwall breccia. Most of these workings (apparently 90 - 100 years old) have collapsed, however 2 levels below the main access adit were sampled along approximately 20 meters of strike. Where possible, the adjacent footwall breccia and the hanging wall shear zones were sampled.

Assay results from the first level, 5.85 meters below the main adit are:

  • Structure: 5.93 g/t gold; 59.2 g/t silver; 1.35% copper; 5.43% combined lead/zinc over 1 meter;
    Footwall: 5.03 g/t gold; 17.2 g/t silver; 0.33% copper; 0.73% combined lead/zinc over 1.7 meters.

  • Structure: 4.93 g/t gold; 36.0 g/t silver; 1.17% copper; 2.06% combined lead/zinc over 1.4 meters;
    Footwall: 1.47 g/t gold; 20.9 g/t silver; 0.44% copper and 1.03% combined lead/zinc over 1.4 meters;
    Hangingwall: 3.4 g/t gold; 23.1 g/t silver; 0.16% copper and 0.53% combined lead/zinc. over 1 meter.

  • Structure: 3.04 g/t gold; 42.6 g/t silver; 0.61% copper and 3.45% combined lead/zinc over 1 meter.

A second level approximately 11.2 meters below the main adit is mainly collapsed, however a small area where the main structure is exposed assayed:

  • Structure: 8.0 g/t gold; 33.6 g/t silver; 0.83% copper and 1.77% combined lead/zinc over 1 meter.
    The footwall could not be sampled due to rubble.

The main mineralized structure is primarily massive hematite, with minor copper oxides, filling a regional NW fault/shear zone. Surface exposure of this mineralized fault structure varies in width from 2 - 15 meters, and has been traced for up to 3 km of strike. The footwall breccia appears to be composed of barite fragments cemented with massive hematite. Several samples have been submitted for polished section analysis for identification of mineralization.

Further detailed analysis of the recently completed magnetometer survey has indicated mag. high features associated with surface structures extend to at least 200 vertical meters, which was the limit of confidence of the survey. The Company is initiating a second mag. survey to cover newly discovered geologically prospective areas, as well as extend the lines of the first survey in order to get a deeper vertical analysis.

Detailed geological mapping is continuing in areas of newly discovered surface mineralization.

The technical information contained in this press release has been verified, and this news 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.

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