San Marco Resources Inc. (TSX VENTURE:SMN) is continuing exploration at its 100% optioned Angeles property in Sonora State, Mexico. Detailed geological mapping and hand trenching is being carried out, approximately 1.5 km to the west from the old underground workings, where significant gold and silver assays were reported (News Release dated October 11th, 2012).
In addition, the Company has staked 12,042 hectares, adjacent to the Angeles property. This new land position was acquired to cover potential extensions of currently known surface mineralized fault structures, as well as newly discovered old pits, shafts and other workings located over an area 2 - 3 km to the south. The Angeles property now consists of a total of 12,404 hectares.
The Company's Chief Executive Officer, Bob Willis, commented, "Exploration results continue to support our original theory that multiple exploration targets exist over at least 3 km of strike at Angeles, exhibiting similar gold and silver grades to 100 year old underground workings. With the addition of our recently staked significant land position, which covers similar mineralized surface workings, San Marco has an opportunity to provide our shareholders with a substantial discovery opportunity."
A 20 kg sample was taken from the main Angeles structure in the old underground workings, approximately 100 vertical meters below surface. Assay results (previously reported in News Release dated October 11th 2012) in the area of this sample are: 5.93 g/t gold, 59.2 g/t silver and 1.35% copper. Petrographic studies, confirmation grade assaying, as well as some initial metallurgical testing, are being carried out on this sample, the results of which are expected in 2 weeks.