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San Marco Resources Inc. (TSXV:SMN) announced that it has signed an agreement that grants it an option to acquire a 100-percent interest in the Mexico-based Cuatro de Mayo project.
San Marco Resources Inc. (TSXV:SMN) announced that it has signed an agreement that grants it an option to acquire a 100-percent interest in the Mexico-based Cuatro de Mayo project. The acquisition is subject to regulatory approval, including the approval of the TSX Venture Exchange.
As quoted in the press release:
The Cuatro de Mayo project comprises roughly 18,500 hectares in nine exploration concessions located 160 km east of Hermosillo, Mexico. The property hosts numerous styles of mineralization including: CRD-type (mantos, skarns) silver-lead-zinc showings; high-sulfidation epithermal volcanoclastic-hosted gold showings; and, mesothermal silver showings. Old mineral workings have been noted throughout the property. Surface channel sampling by San Marco at the entrance to one such historic working returned 124 g/t silver, 0.86 g/t gold and 4.7% lead over 9.5 m in one sample, and 197 g/t silver, 0.89 g/t gold, 7.1% lead and 0.22% zinc over 2.0 metres in a second sample. San Marco is in the process of prioritizing targets at the Cuatro de Mayo property and formulating an exploration plan in anticipation of drill target definition.
Click here to read the full San Marco Resources Inc. (TSXV:SMN) press release.