It’s cause for celebration within the Vancouver offices of San Marco Resources Inc. (TSX-Venture:SMN), after apparently coming upon a major find at its mine in Mexico.
A news release issued Tuesday reported that San Marco has completed a critical first phase of exploration and evaluation, confirming the existence of a porphyry copper-molybdenum-gold system at its 100% owned Espiritu SMR property in Sonora State.
What’s more, the company says, unrecognized vectoring tools have been uncovered to optimize future exploration efforts toward priority target areas of potential best-grade mineralization.
A hopeful CEO Chris T. Grijalva said, “The important data compilation and invaluable insights … has confirmed the porphyry copper-moly-gold potential of the Espiritu SMR project and heightened our understanding of its ongoing exploration potential.”
The Company won Espiritu SMR property through the Mexican government's mineral concession lottery in last year’s second quarter. Espiritu is about 230 kilometres east of Hermosillo, about 2,000 kms up the coast from Mexico City.
San Marco shares took on half a cent, or 4.8%, to head toward noon ET at 11 cents, on volume of 108,000