San Marco Signs Option Agreement with Argonaut Gold

San Marco Resources Inc. (TSXV:SMN) announced that it has signed a two-year option agreement with Argonaut Gold Inc. (TSX:AR). Under the agreement, San Marco can acquire a 457-hectare concession in Mexico’s Cuatro de Mayo District; it contains “a number of established gold targets.”

As quoted in the press release:

Under the terms of the agreement, San Marco can earn a 100% interest in this concession by paying Argonaut a total of $50,000 over two years ($10,000 within 90 days, $15,000 on the first anniversary and $25,000 on the second anniversary). Argonaut will retain a one percent (1%) NSR royalty on any future production.

Bob Willis, president and CEO of San Marco, commented:

The El Chunibas area hosts a number of mineralized epithermal gold targets. This acquisition enhances San Marco’s foothold in the Cuatro de Mayo District and adds a highly prospective, established, precious metal target to our growing suite of Cuatro de Mayo showings.

Click here to read the full San Marco Resources Inc. (TSXV:SMN) press release.