San Marco Resources provides an exploration update on the Chunibas Property located in Sonora State, Mexico and an update on corporate activities.
Chunibas Property Update
Exploration results from the recently completed property wide soil sampling grid (approximately 1,000 samples) have confirmed the existence of the primary gold target, 600 metres X 800 metres. Historical data has been incorporated with the Company's recent exploration work, resulting in field evidence that the north-south trending shear/vein structures coalesce in various zones along strike. This has reinforced the geological model that wider zones of gold mineralization, flanking the high-grade shear structures, some of which continue to be mined by local gambosinos (miners), where grades appear to be in the 15 g/t gold range, exist. The Company's sampling of the one to two metre-wide structures has resulted in grades up to 46 g/t gold.
Mineralized structures have been identified in the western sector of the property as well, however, additional exploration is required, since alluvial cover minimizes meaningful surface exploration beyond the one to two metre wide structures exposed at surface.
Drilling is anticipated to be the next phase of exploration such that field crews are planning and spotting drill hole locations. Since the Chunibas Property's primary mineralized area is open in all directions, drilling is expected to probe deeper and on-strike mineralized zones not explored in previous drilling.
All drill permits, surface access agreements and drill contract proposals are in place, such that drilling could commence quickly. Partnership opportunities are being investigated to fund the drilling, however, the Company is funded to support this program as required.