San Marco Resources Inc. (TSX-V: SMN) has registered substantial price gains as investors react to improving fundamentals tied to the company’s flagship Buck gold/silver/zinc project. Renewed investor interest has seen the stock rally by more than 30% after a steep pullback in 2019. The bounce-back stems from growing confidence about the company’s long-term prospects as it continues to work on its flagship mining project.
The Canadian mineral and exploration company’s focus in 2020 remains fixed on the flagship Buck gold/silver/zinc Property[SA1] [R2] , located in north-central British Columbia. The 100% optioned 15,000 ha project is at the heart of the company’s long-term prospects as well as the generation of long-term shareholder value.
Likewise, San Marco Resources balance sheet has received a boost with a series of capital raises that leaves the company well positioned to bring to fruition its flagship mining project. A strengthened balance sheet means the company is financed to pursue strategic initiatives that have the potential to generate long-term value.
About San Marco resources
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada, and Mexico. The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and currently operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.
San Marco 2020 Outlook
Buck Project Prospects
After a quiet 2019, 2020 promises to be a busy year for San Marco Resources. The company is set to begin drilling at their flagship Buck Property with the imminent approval of their drill permits.
Located 15 km south of Houston, British Columbia, the Buck Property is a bulk tonnage gold/silver/zinc exploration target believed to be a large, altered breccia system. Historical exploration activities included drilling, sampling, as well as ground and airborne geophysics, meaning the company won’t be starting from scratch.
The Buck property is located in a mining friendly jurisdiction that will support year-round exploration. Likewise, the project has excellent road access allowing support to drilling and processing operations.
The company’s geologists have compiled data and generated a 3-D model of historical drill assays. The analysed data indicates the presence of a large, altered breccia system with widespread gold, silver, and zinc mineralization. The surface footprint of the mineralization is over an area approximately 700 m by 300 m with mineralized breccia also known to exist up to 200 m in depth. Alongside this surface area, multiple unexplored target areas are also located within the claim group.
According to San Marco Resources Executive Director, Bob Willis, “the Buck gold/silver/zinc project provides an excellent opportunity to generate significant shareholder value once drilling operations commence”.
Capital Raise
The company has already carried out a string of capital raises to support the imminent drilling operation at the Buck project. In November of last year, San Marco Resources closed a $448,000 non-brokered unit private placement [SA3] on the issuance of 3.7 million shares priced at $0.12 a unit. Likewise, the company has confirmed the pricing of a flow through private placement [SA4] made up of 266,667 shares priced at $0.15 a share.
Similarly, San Marco has confirmed it has retained the services of public relations firm Momentum Public Relations. The firm is tasked with the responsibility of assisting in strategic business development activities as the company shifts focus to drilling operations at its British Columbian Buck gold/silver/zinc flagship project.
The public relations firm is also tasked with the responsibility of assisting in increasing the company’s public awareness in addition to handling corporate communications and marketing activities. The firm will facilitate dialogue with the company’s shareholders as well as finance professionals and other media contacts.
Bottom Line
San Marco Resources has recovered nicely after experiencing a pullback in 2019. The bounce-back has coincided with the release of important updates pertaining to exploration activities at the flagship Buck gold/silver project. As the company eyes drilling operations, 2020 can only be a good year for the company as it seeks to generate shareholder value.
That said, the stock market sentiments can only continue to edge higher on the company providing positive updates about the exploration program at the Buck gold/silver project. If you are looking for a company with plenty of opportunities on the horizon, San Marco Resources fits the bill.