San Marco Arranges $2 Million Flow-Through Private Placement Financing
San Marco Resources Inc. (TSXV: SMN) announces it has arranged a non-brokered private placement consisting of: (i) “charity flow-through” Units at a price of $0.34 each (the “Charity FT Unit Offering“) and (ii) “flow-through” Units at a price of $0.26 each (the “FT Unit Offering” and, together with the Charity FT Unit Offering, the “Offering“) for gross aggregate proceeds of $2 million. Eventus Capital Corp. has been appointed as a finder in connection with the Offering and will be paid a 7% cash fee and issued that number of compensation warrants (having the terms described below) equal to 7% of the Units sold.
Each Unit will consist of one ‘flow-through’ common share and one half of a common share purchase warrant. Each whole warrant (a “Warrant“) will entitle the purchase of one (non-flow-through) common share for 24 months at a price of $0.34. If the closing price of the Company’s common shares (“Common Shares“) is greater than $0.70 for 10 consecutive trading days, San Marco will have the right to accelerate the expiry date of the Warrants by giving notice, via a new release, to the Warrantholders that the Warrants will expire 30 days after the issuance of the news release. The compensation warrants will be exercisable for two years at a price of $0.26 per share and will not be subject to the acceleration provision.
Common Shares comprising part of the Units issued under the Charity FT Unit Offering and FT Unit Offering will qualify as ‘flow through shares’ (“Flow Through Shares“) under the Income Tax Act (Canada). The gross proceeds from the Offering will be used to incur ‘Canadian exploration expenses’ that will qualify as ‘flow through mining expenditures’ under the Income Tax Act and will be renounced to the initial purchasers of the Flow Through Shares.
Proceeds of the Offering will be used for funding exploration of the Company’s Buck Property. Closing of the Offering is expected on or about July 21, 2020. All the securities issued pursuant to the Offering will be subject to a four month restricted resale period. Completion of the placement is subject to the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available
About San Marco
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 and includes many former and current operating mines. The Company’s portfolio also includes the several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
info@sanmarcocorp.com
Tel. 778-588-9606
- Published in Mining, News Home, San Marco Resources
San Marco Mobilizes Field Crew and Commences 2020 Exploration Program at Buck Property, Central B.C.
San Marco Resources Inc. (TSXV: SMN) (“San Marco” or the “Company”) announces the mobilization of a field crew on its flagship gold/silver/zinc Buck property in north-central B.C. The 100% optioned property consists of 15,000 hectares and is located just south of the town of Houston, B.C.
Highlights include:
- Geological mapping, structural analysis, and geochemical sampling to be completed.
- Multiple targets identified on the property through historic data compilation.
- Continuous rock chip intervals in the Trench Zone include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au, and 45 metres of 1.82 g/t Au. (1)
- Significant drill hole intercepts in the Trench Zone include 30.8 metres of 2.70 g/t Au, 33 g/t Ag, and 12.0 metres of 1.06 g/t Au, 25 g/t Ag. (1)
- Phase 2 drill program to commence within weeks of field work completion.
The team has begun on-site field reconnaissance and preparation for the summer 2020 exploration program, with geologists arriving shortly.
San Marco’s CEO, Bob Willis, states “We are excited to begin field work at the Buck property. We have a number of excellent drill targets generated through historic data compilation and are keen to get on site, evaluate their priority, and get the drill turning again. The geology at Buck appears very similar to the geology at the Blackwater deposit, recently acquired by Artemis Gold from New Gold Inc. We’re producing the first compilation of historic results from multiple sources. This is generating very compelling targets in several lightly explored areas kilometres away from the bulk of historical work. Results from these new target areas are still being refined and will be released as they are compiled.”
The summer exploration program will include geological mapping and geochemical sampling of key exploration targets identified through analysis of historic geological, geochemical, and geophysical data compiled by San Marco’s technical team. Drilling of multiple targets is planned within a few weeks after the initial field work is completed.
Of particular interest is a zone to the west of the Phase 1 diamond drilling program announced on April 8, 2020 (Figure 1). Newly recovered records of historic work in the “Trench Zone” includes drilling and geochemical sampling in the form of soil and rock samples, as well as rock chip samples taken from trenches (Figure 2). Rock chip samples are noted as continuous 3 metre intervals; significant intercepts include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au, and 45 metres of 1.82 g/t Au. (1)
Continuous rock chip intervals from historic trenching in the Trench Zone appear in Table 1 below.
Table 1. Historic Continuous Rock Chip Intervals from Trenches
Trench ID | Length (m) | Au (g/t) | Ag (g/t) |
Trench 1 | 48 | 2.61 | 25.54 |
and | 45 | 1.82 | 26.26 |
Trench 2 | 48 | 2.96 | 23.89 |
Trench 3 | 9 | 0.49 | 4.43 |
Trench 4 | 6 | 0.53 | 4.05 |
and | 33 | 0.63 | 18.78 |
and | 12 | 0.34 | 6.28 |
Trench 5 | 27 | 0.53 | 11.52 |
Trench 6 | 18 | 0.29 | 1.95 |
and | 12 | 0.57 | 5.58 |
and | 6 | 0.47 | 11.50 |
and | 12 | 0.23 | 8.43 |
Trench 7 | 3 | 10.00 | 2.00 |
Trench 17 | 9 | 0.57 | 6.27 |
and | 9 | 0.63 | 5.97 |
Trench 24 | 33 | 0.57 | 12.11 |
and | 9 | 0.53 | 25.75 |
Trench 25 | 39 | 0.88 | 21.26 |
and | 12 | 0.40 | 21.75 |
Trench 51 | 12 | 0.46 | 3.15 |
and | 6 | 4.85 | 26.65 |
and | 3 | 3.40 | 2.60 |
* Individual rock chip samples are 3 metres in length
Historic drilling in the Trench Zone also identified continuous near-surface mineralization, including 30.8 metres of 2.70 g/t Au, 33 g/t Ag, and 12.0 metres of 1.06 g/t Au, 25 g/t Ag. (1)Significant drill hole intercepts within the Trench Zone appear in Table 2 below.
Table 2. Historic Drill Hole Intercepts
Hole ID | From (m) | To (m) | Length (m) * | Au (g/t) | Ag (g/t) |
84-13 | 6.7 | 150.0 | 143.3 | 0.75 | 9 |
Includes | 10.0 | 40.8 | 30.8 | 2.70 | 33 |
85-20 | 18.0 | 30.0 | 12.0 | 0.94 | 19 |
85-21 | 75.0 | 90.8 | 15.8 | 0.45 | 4 |
85-23 | 18.0 | 30.0 | 12.0 | 1.06 | 25 |
85-25 | 6.1 | 102.1 | 96.0 | 0.35 | 7 |
Includes | 6.1 | 45.0 | 38.9 | 0.61 | 10 |
85-28 | 3.5 | 122.5 | 119.1 | 0.31 | 4 |
Includes | 3.5 | 21.0 | 17.5 | 0.90 | 12 |
88-01 | 24.6 | 47.2 | 22.6 | 0.58 | 13 |
* Drill core length, not true lengths
The 2020 exploration program will be carried out in compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Strict safety protocols will be in place to protect the health of employees, contractors, consultants, and their families.
Change of CEO
San Marco also announces the appointment of Bob Willis as CEO. Mr. Willis previously held the role of Executive Director. This change was made following the Company’s Annual General Meeting held on June 11, 2020.
Links to Figures
Figure 1:
Figure 2:
__________________________
1) Thedrill and rock chip results were obtained from parties that previously exploredthe property. The Company believes the significant intercepts to be accurateand comply with industry best practices at the time of drilling.
About San Marco
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 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 and includes many former and current operating mines. The Company’s portfolio also includes the several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58352
- Published in Mining, News Home, San Marco Resources
Canada Silver Cobalt Ramps Up Drilling at Castle East Discovery, Closes $1.2 Million Private Placement
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the Company has closed a flow-through private placement with strategic investors, raising gross proceeds of $1.2 million by issuing 2,000,000 units at $0.60 per flow-through unit (see details below).
Proceeds of the flow-through private placement will be used to further ramp up drilling and exploration over the coming weeks at the Company’s 100%-owned Castle East high-grade silver discovery in Northern Ontario’s Gowganda Camp.
Wedge Holes Take Aim At Rich Second “Trunk” Potential
After extending the original Robinson Zone high-grade discovery vein 47 meters up-dip through drill hole CS-20-24 from surface, geologists are now resuming a wedge hole strategy that proved to be very effective last winter when the extremely rich Robinson Zone was first delineated, leading to a maiden Inferred resource estimate (refer to May 28, 2020 news release).
Starting today, an initial two wedge holes, drilled up-dip from different directions based on the orientation of the vein, are targeting the extension of the high-grade vein discovered 95 meters below the Robinson Zone in drill hole CS-20-22 that was not included in the resource estimate (8,339 g/t Ag or 243 oz/ton over 0.35m within 0.60m of 4,971 g/t Ag or 145 oz/ton, estimated at 50% to 70% true width). This vein, featuring native dendritic silver (large “rosettes”), has a different texture to it than the vein in the original discovery, suggesting the Castle East mineralizing event was driven by multiple phases.
Matt Halliday, VP Exploration, commented: “It appears we have found the first two ‘trunks’ of this system. Based on district geology we expect to find branches off these trunks and a possible connection between these trunks through a network of veins.
“We have a very large area that has never been systematically drill tested, so the scale potential is very significant. We know we have the grade with 7.6 million Inferred ounces at 250 oz/ton in a very concentrated area, ideal for accessing through a ramp,” Halliday concluded.
Flow-Through Private Placement Details
Each FT Unit comprises one flow-through common share of the Company and one half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.70 per share, for a period of two years from closing, subject to TSX Venture Exchange (“Exchange”) approval.
Canada Silver Cobalt has paid finder fees in the amount of $94,000 and issued 156,665 finder warrants in connection with the FT private placement. The finder’s warrants are on the same terms as the financing warrants. The finder fees are subject to Exchange approval.
All securities issued in connection with the private placement will be subject to a four–month and a day hold period expiring on October 16, 2020, in accordance with applicable Canadian securities laws.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (APGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person in accordance with NI 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
For further information: Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
Related Links
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Extends Robinson Zone High-Grade Silver Discovery
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce that Phase 2 drilling at Castle East has quickly expanded the potential scale of the Robinson Zone high-grade silver discovery, open in all directions.
The latest drill hole, CS-20-24, further demonstrates continuity of vein structures over an increasingly broad area consistent with a robust mineralizing event immediately east of three past producers in Northern Ontario’s Gowganda Camp.
Highlights:
- CS-20-24, the just-completed first hole of Phase 2, was collared 200 meters northwest of CS-20-22 and intersected three separate visually well-mineralized vein structures at shallower levels including native silver and cobalt arsenides within a 5-meter zone (core interval) approximately 47 meters above the Robinson Zone;
- CS-20-24 is interpreted to be an extension of the original vein confirmed through historical drill hole CA-11-08 in addition to Canada Silver Cobalt’s recent follow-up wedge holes;
- A network of high-grade native silver veins has now been traced over a vertical distance of approximately 144 meters from the middle intersection in CS-20-24, at a vertical depth of 371 meters, to the second deeper intercept in CS-20-22 (representing a new vein) near the lower contact of the diabase with the Archean rocks.
Matt Halliday, Canada Silver Cobalt VP-Exploration, commented: “With the first hole of Phase 2 we’ve already opened up much more room for expansion of the very high-grade Robinson Zone, and many more high priority targets remain to be drilled. This appears to be a ‘pregnant’ system with strong potential for significant additional lateral and vertical extent given the increasing success we are having at hitting these narrow but exceptionally high-grade vein structures from surface. We eagerly anticipate the first batch of assays from CS-20-24.
“Our research shows that the Northern Ontario Silver-Cobalt Camp hasn’t seen anything like this in at least several decades – a grassroots discovery of very unusual silver grades, comparable with those that helped make this region the birthplace of Canadian hard rock mining in the early 1900’s,” Halliday continued. “In addition, core from CS-20-24 shows promise for gold mineralization in the 326-meter Archean package drilled into above the Nipissing diabase, nearly half a kilometer northeast of the high-grade gold intercept in CS-19-19 (refer to March 2, 2020, news release).”
Next Drill Holes
Geologists are now preparing to drill a series of wedge holes, commencing early next week, from CS-20-22 and CS-20-24 in an attempt to follow the trail of native silver veins, similar to the strategy last December that also involved the successful use of downhole camera technology. GoldMinds Geoservices’ custom-built downhole camera has been deployed once again and has provided valuable information with regard to CS-20-22 and the orientation of vein structures. It will also be used in the coming days to evaluate the vein structures intersected in CS-20-24.
Robinson Zone Inferred Resource
Notably, as disclosed in a maiden resource estimate May 28, 2020, zones 1A and 1B of the Robinson Zone entering Phase 2 had an average silver grade of 8,582 g/t (250 oz/ton) in a combined 27,400 tonnes of material for a total of 7.56 million Inferred ounces of silver using a cut-off grade of 258 g/t AgEq (mineral resources that are not mineral reserves do not have demonstrated economic viability). This resource estimate did not include the second vein discovered in CS-20-22.
Gold Target Above the Diabase
Starting 40 meters downhole and continuing to 368 meters, CS-20-24 intersected multiple potential gold-bearing quartz-carbonate multi-generational veins with sulphide mineralization and intense alteration in the Archean package above the Nipissing diabase. Arsenopyrite was also noted in feldspar porphyry.
As reported by Canada Silver Cobalt March 2, 2020, the last drill hole that targeted gold mineralization at Castle East (CS-19-19) intersected 4.3 g/t Au over 4 meters and 1.5 g/t over 12.5 meters within a 30-meter mineralized zone (core length, true width unknown at this time) grading 0.70 g/t Au (vertical depth approximately 240 meters). This broad interval included 1 meter that returned 15.2 g/t Au. This early stage gold discovery is approximately 460 meters southwest of the visually encouraging zones encountered in CS-20-24. The potential relationship between the two areas is being investigated as geologists await assays for this latest hole.
Castle Property Location
The Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, 80 km northwest of CCW’s Temiskaming Testing Lab/processing facility in the town of Cobalt, and 100 km southeast of new gold discoveries in the Timmins West area.
Quality Assurance/Quality Control
Castle East core samples were collected using a 0.3-meter minimum length and a 1-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the split core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. Where silver was visually and significantly present, a pulp-metallic analysis on full sample was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample.
Swastika Laboratories is an ISO 17025 certified lab independent of Canada Silver Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (APGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
For further information: Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
Related Links
- Published in Canada Cobalt Works, Mining, News Home
San Marco Increases Flow-Through Private Placement to up to $3,500,000
San Marco Resources Inc. (TSXV: SMN) is pleased to announce that, due to strong investor demand, it is increasing the size of its non-brokered private placement offering announced June 29, 2020 to up to $3,500,000 consisting of: (i) “charity flow-through” Units at a price of $0.34 each (the “Charity FT Unit Offering“) and (ii) “flow-through” Units at a price of $0.26 each (the “FT Unit Offering” and, together with the Charity FT Unit Offering, the “Offering“). Eventus Capital Corp. has been appointed as a finder in connection with the Offering and will be paid a 7% cash fee and issued that number of compensation warrants (having the terms described below) equal to 7% of the Units sold.
Bob Willis, CEO & Director, stated, “We are very pleased with the strong institutional investor interest in San Marco’s Buck Property. I thank all investors for their support and look forward to the continued work on the property, including an initial 10,000 metres of drilling anticipated to begin this summer.”
Each Unit will consist of one ‘flow-through’ common share and one half of a common share purchase warrant. Each whole warrant (a “Warrant“) will entitle the purchase of one (non-flow-through) common share for 24 months at a price of $0.34. If the closing price of the Company’s common shares (“Common Shares“) is greater than $0.70 for 10 consecutive trading days, San Marco will have the right to accelerate the expiry date of the Warrants by giving notice, via a new release, to the Warrant holders that the Warrants will expire 30 days after the issuance of the news release. The compensation warrants will be exercisable for two years at a price of $0.26 per share and will not be subject to the acceleration provision.
Common Shares comprising part of the Units issued under the Charity FT Unit Offering and FT Unit Offering will qualify as ‘flow through shares’ (“Flow Through Shares“) under the Income Tax Act (Canada). The gross proceeds from the Offering will be used to incur ‘Canadian exploration expenses’ that will qualify as ‘flow through mining expenditures’ under the Income Tax Act and will be renounced to the initial purchasers of the Flow Through Shares.
Proceeds of the Offering will be used for funding exploration of the Company’s Buck Property. Closing of the Offering is expected on or about July 21, 2020. All the securities issued pursuant to the Offering will be subject to a four month restricted resale period. Completion of the placement is subject to the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available
About San Marco
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 and includes many former and current operating mines. The Company’s portfolio also includes several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sanmarcocorp.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
Nancy Curry
Corporate Communications
Tel. 778-588-9606
- Published in Mining, News Home, San Marco Resources
Canada Silver Cobalt Resumes Drilling at Castle East High-Grade Silver Discovery
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce a major reinterpretation of the Gowganda Silver Camp as a new round of diamond drilling begins (Phase 2) at the Castle East high-grade silver discovery, open in all directions.
Highlights:
- Diamond drilling aims to build and upgrade the maiden Inferred mineral resource (see May 28, 2020 news release) that includes 7.56 million ounces of silver in zones 1A and 1B of the Robinson Zone (27,400 tonnes @ 8,582g/t Ag or 250oz/ton at an average cut-off grade of 258 g/t AgEq);
- Only a fraction of Castle East has been drill-tested. Historically, the area received little exploration attention due to extremely limited diabase outcrop (unlike the western side of the Camp);
- The past producing Castle, Capitol and O’Brien mines, all within a 2-km radius of the Robinson Zone, are interpreted to comprise a large silver-rich system of abundant vein networks that follow the dip of the diabase toward Castle East in the heart of the Miller Lake Basin;
- Very high-grade silver extends more to depth in the Gowganda Camp (toward/near the lower contact) than previously recognized;
- Sub-horizontal and sub-vertical fault structures are key controls on mineralization and they extend throughout the Gowganda Camp;
- The Nipissing diabase, the primary host of very high-grade silver mineralization in the Gowganda Camp, is now known to thicken in a higher temperature system at Castle East;
- Total volume of the diabase at Castle East is estimated to range from 970 million to 1.45 billion cubic meters, vs. an estimated 69 million cubic meters for the Castle mine. The extent of actual mineralized diabase at Castle East is still unknown, and it is too early in the exploration stage to determine potential quantity and grade of the broader Castle East exploration target.
Matt Halliday, VP-Exploration, commented: “We’re excited to continue drilling numerous remaining exploration targets. We’re seeing some phenomenal grades at Castle East, consistent with historical discoveries in the broader district going back to the early 1900’s. We see strong potential to expand and upgrade the known Inferred resource estimate, including higher up in the diabase, given the multiple targets we have.
“Importantly, such a high concentration of metal in zones 1A and 1B of the Robinson Zone provides a bull’s eye target for a ramp strategy aimed at accessing these pods of extremely high-grade material while also creating underground exploration platforms that can efficiently follow the vein structures,” Halliday added. “That’s how Agnico Eagle (Castle mine) and others succeeded in this district – they went straight to the accumulations of native silver. We will incorporate that strategy while also taking advantage of new technology to ensure that Canada Silver Cobalt’s exploration toolbox is the most modern and effective in the Camp.”
Vision For Castle East
Canada Silver Cobalt has launched the permitting process, under Ontario’s “Advanced Exploration Permit” structure, to construct a ramp to the rich Robinson Zone which will also provide underground exploration platforms to greatly enhance new discovery opportunities targeting both high-grade silver and the new gold zone (refer to March 2, 2020, news release) located within Archean rocks overlying the diabase several hundred meters southwest of the Robinson Zone. This streamlined process, which doesn’t require any federal approvals, includes environmental baseline studies for air and water permits in addition to a closure plan for Castle East. CCW has already met with Ministry officials and has engaged a leading engineering firm to help spearhead the process.
District Model
The deposit model and history of the Gowganda Camp, and the broader Northern Ontario Silver-Cobalt District which officially produced nearly half a billion ounces of silver last century, show that unusually rich, narrow vein shoots (generally half an inch to six inches in true width and, in rare cases, up to approximately 12 inches in true width) can extend for tens or even hundreds of meters (pinching and swelling, moving in and out of very high-grade mineralization). These veins may be surrounded by strongly mineralized wall rock and they’re often within a network of closely spaced parallel veins and veinlets in addition to silver-filled fractures.
Phase 2 Drilling
The current program is designed to test the vertical extension of the mineralized zones to surface and to increase quantity and confidence of the mineral resources. Phase 2 will also include follow-up on a new high-grade vein discovery (CS-20-22) approximately 95 meters below the Robinson Zone in the lower half of the Nipissing diabase near the contact with the Archean volcanics. CS-20-22 is interpreted to have intersected a second potential major vein structure with an assay of 8,338.41 g/t Ag or 243 oz/ton over 0.35 meters (true width estimated at 50% to 70%). This native silver vein, discovered at a vertical depth of approximately 500 meters, does not form part of the maiden Inferred resource for Castle East released May 28, 2020.
Significantly, vein intersections at Castle East exist in both the upper and lower parts of the Nipissing diabase contact with the Archean volcanics, greatly enhancing the deposit potential of the area with implications for the broader Camp where historic production was predominantly on the upper half of the diabase. Geologists are also exploring the possibility that rich silver veins at Castle East could potentially extend into rock packages outside of the diabase.
Investors are cautioned that mineral resources which are not mineral Reserves do not have demonstrated economic viability.
Property Map
Visit the Canada Silver Cobalt website at www.CanadaSilverCobaltWorks.com for an updated Castle Property Map, or click on the following link:
Location
The Castle Property is 15 km east of Pan American Silver’s Juby gold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, 80 km west of CCW’s Temiskaming Testing Lab/processing facility in the town of Cobalt, and 100 km southeast of new gold discoveries in the Timmins West area.
Quality Assurance/Quality Control
Castle East core samples were collected using a 0.3-meter minimum length and a 1-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a pulp-metallic analysis was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample.
Swastika Laboratories is an ISO 17025 certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (APGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2020/29/c5142.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Canada Silver Cobalt Releases Maiden NI 43-101 Mineral Resource Estimate for Castle East Robinson Zone
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the results of its first NI 43-101 Mineral Resource estimate for the early stage Castle East Robinson Zone discovery in the heart of the past producing Gowganda Silver Camp, 75 kilometers southwest of Kirkland Lake.
Castle East is part of Canada Silver Cobalt’s 100%-owned, 78 sq. km Castle Property also featuring the Castle mine. Late last year the company initiated a follow-up program to a 2011 discovery hole approximately two km southeast of the mine, and within two km of two other past producers, that returned a high-grade intercept of 40,944 g/t silver (1,194 oz/ton) over a core length of 0.45 meters (refer to August 25, 2011, Gold Bullion Development news release). Four holes (CS-19-08W1, CS-19-08W2, CS-19-08W3 and CS-19-W4) were wedged off the 2011 hole followed by four holes (CS-19-20, CS-19-21, CS-20-22 and 23) drilled to intersect the vein zone from a different angle. The latest hole was drilled parallel to and collared 45 meters from the historic hole. CCW’s program aimed to delineate the extent of the high-grade mineralization within the Robinson Zone that shows very high grades in the form of native silver.
The mineral resource estimate used the four wedge holes and the four holes drilled from surface (CS-19-08W1 to W4; CS-19-20, CS-19-21; CS-20-22 and CS-20-23) and one historical drill hole (CA1108).
This resource estimate was independently prepared by GoldMinds Geoservices Inc. in accordance with National Instrument 43-101 (“NI 43-101”) and is dated May 28, 2020.
Notably, Zones 1A and 1B have an average silver grade of 8,582 g/t (250.2 oz/ton) in a combined 27,400 tonnes of material for a total of 7,560,200 Inferred ounces using a cut-off grade of 258 g/t AgEq (mineral resources which are not mineral Reserves do not have demonstrated economic viability).
Table 1: Mineral Resource Estimate at Castle East Using a Cut-Off Grade of 258 AgEq g/t
Inferred Mineral Resources | Ag | Co | Cu | Ni | Pb | Zn | AgEq | Tonnes | Ag | AgEq |
g/t | g/t | g/t | g/t | g/t | g/t | g/t | Oz. | Oz. | ||
Zone 1A | 7,960 | 946 | 349 | 790 | 16 | 12 | 8,042 | 8,100 | 2,073,000 | 2,094,200 |
Zone 1B | 8,843 | 2,308 | 325 | 336 | 30 | 52 | 8,998 | 19,300 | 5,487,200 | 5,583,200 |
Zone 2A | 38 | 5,673 | 2,101 | 453 | 118 | 108 | 426 | 5,500 | 6,800 | 75,300 |
Total Inferred Mineral Resources | 7,149 | 2,537 | 628 | 467 | 41 | 52 | 7,325 | 32,900 | 7,567,000 | 7,752,700 |
Notes:
- Mineral resources which are not mineral Reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues. The quantity and grade of reported Inferred resources are uncertain in nature and there has not been sufficient work to define these Inferred resources as Indicated or Measured resources;
- The database used for this mineral estimate includes drill results obtained from historical (2011 one hole) to the recent 2019 drill program and wedges from the 2011 diamond drill hole;
- Mineral resources are reported with mineable shape cut-off grade equivalent to $125 USD (258 g/t AgEq) including mining, shipping and smelting cost with recovery of 95%. The high-grade value of the mineral resources may potentially allow for direct shipping. The assay results are not capped as they are not considered as outliers at this stage and results are reproducible;
- The geological interpretation of the mineralized zones is based on lithology and the mineralized intervals intersected by drill holes. The use of the borehole inspection camera provided a valuable geometric characterization of the mineralized intervals;
- The mineral resource presented here was estimated with a block size of 1mE x 1mN x 1mZ;
- The blocks were interpolated from equal length composites of 0.5m calculated from the mineralized intervals;
- The minimum horizontal width of the mineralized envelopes includes dilution and is 1.3m;
- The mineral estimation was completed using the inverse distance to the square methodology utilizing two passes. For each pass, search ellipsoids followed the geological interpretation trends were used;
- The mineral resources have been classified under the guidelines of the CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions in 2019 and adopted by CIM Council (2020), and procedures for classifying the reported mineral resources were undertaken within the context of the Canadian Securities Administrators NI 43-101;
- To convert volume to tonnage a specific gravity of 3.4 tonnes per cubic metre was used. Results are presented in‑situ without mining dilution;
- This mineral resource estimate is dated May 28, 2020. Tonnages and AgEq oz in the table above are rounded to nearest hundred. Numbers may not total due to rounding;
- The table below shows the commodity prices and the formula for AgEq calculation:
- Additional details will be provided in the Technical Report.
As part of the resource estimation process, the company and GoldMinds compiled, verified and modelled all technical information available from the Castle East Project. The 3D geological models were built for sub-vertical structures. The mineralized envelopes were created using the last diamond drill holes (CS-19-08W1 to W4; CS-19-20, CS-19-21; CS-20-22 and CS-20-23) and the historical hole CA1108. A total of four mineralized envelopes were created by connecting the defined mineralized prisms on the sections with a minimum horizontal width of 1.3m. A fixed density of 3.4 t/m3 was used. This density reflects the typical mineralized interval composed mainly of diabase. The geological and mineralization wireframes were constructed using Genesis©, a modelling and mineral estimation software.
The maximum depth of the mineralized envelopes is around Z = -73 m (around 490 metres from the surface). The envelopes are extended from around 350m to 490m from the surface. A total of four block models were created. The block size (1mE × 1mN × 1mZ) has been defined to respect the geometry of the envelopes.
Search ellipsoids were used for the grade estimation and follow the geological interpretation trends. Block grades were interpolated from the composites (0.5m length) within the envelopes in two passes using the inverse distance to the square methodology and the assays results are not capped.
For the first pass, the number of composites was limited to twelve (12) with a minimum of three (3) with a maximum of two (2) composites from the same hole. For the second pass, the number of composites was limited to twelve (12) with a minimum of two (2).
A cut-off grade of $125 USD (258 g/t AgEq) was applied for these underground mineral resources.
Table 2: The price used for the calculation of AgEq
Element | Ag | Co | Cu | Ni | Pb | Zn |
[oz] | [ton] | [ton] | [ton] | [ton] | [ton] | |
USD | $15 | $30,000 | $5,150 | $12,327 | $1,650 | $1,925 |
A Technical Report with respect to the present mineral resource estimate disclosed today will be filed within 45 days in accordance with NI 43-101. The report will also present more details on the project and findings. The company will continue to advance, explore and de-risk the project with further engineering (metallurgical, mining) and environmental study & social community relations with locals and First Nations.
Table 3: Significant Robinson Zone Drill Results – Silver/Cobalt Values
CCW Castle East Robinson Zone Significant Drill Intercepts (Core Intervals) | ||||||
Hole # | From [m] | To [m] | Length [m] | Ag [g/t] | Ag[oz/ton] | Co [%] |
CA1108 | 563.54 | 566.63 | 3.09 | 6,476.29 | 188.92 | 0.13 |
Including | 564.34 | 564.79 | 0.45 | 40,944.00 | 1,194.40 | 0.91 |
CS-19-08W1 | 558.00 | 560.50 | 2.50 | 12,738.55 | 371.60 | 0.09 |
Including | 559.40 | 560.00 | 0.60 | 50,583.39 | 1,475.59 | 0.30 |
CS-19-08W2 | 545.00 | 549.00 | 4.00 | 7,259.50 | 211.77 | 0.20 |
Including | 547.20 | 547.50 | 0.30 | 70,380.15 | 2,053.10 | 2.61 |
CS-19-08W3 | 568.00 | 569.00 | 1.00 | 56.40 | 1.65 | 1.35 |
CS-20-22 | 563.90 | 564.50 | 0.60 | 4,971.39 | 145.02 | 0.39 |
Including | 564.15 | 564.50 | 0.35 | 8,338.41 | 243.24 | 0.66 |
CS-20-22 | 407.00 | 419.00 | 12.00 | 29.05 | 0.85 | 0.00 |
Including | 409.45 | 409.85 | 0.40 | 368.70 | 10.76 | 0.01 |
Notes: | 1. True widths are estimated to be 50% to 70% of the reported downhole intercepts; |
2. CS-20-22 interval at 563.90 m to 564.50 m was not used in the Inferred resource calculation. |
Table 4: Drill Hole Coordinates Table
Hole Name | Easting | Northing | Elevation | Azimuth | Dip | Start Depth | End Depth | Length |
CS-19-08W1 | 520914 | 5279950 | 415 | 134 | -50 | 495.03 | 611.00 | 115.97 |
CS-19-08W2 | 520914 | 5279950 | 415 | 134 | -50 | 444.30 | 602.00 | 157.70 |
CS-19-08W3 | 520914 | 5279950 | 415 | 134 | -50 | 425.00 | 620.00 | 195.00 |
CS-19-08W4 | 520914 | 5279950 | 415 | 134 | -50 | 371.40 | 629.00 | 257.60 |
CS-19-20 | 521004 | 5279544 | 415 | 43 | -70 | 0.00 | 701.00 | 701.00 |
CS-19-21 | 521004 | 5279544 | 415 | 30 | -70 | 0.00 | 755.00 | 755.00 |
CS-20-22 | 521004 | 5279544 | 415 | 36.8 | -67 | 0.00 | 695.00 | 695.00 |
CS-20-23 | 520902 | 5279983.93 | 415 | 133.1 | -51.3 | 0.00 | 884.00 | 884.00 |
Quality Control/Assurance
During the 2019 and early 2020 drilling program, assay samples were taken from the NQ core. Samples were collected using a 0.3-metre minimum length, one-meter maximum length. Drill core recovery averaged 95%. A strict QA/QC program was applied to all samples, which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The drill core was split with one half of the core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. Core samples were sent for assaying to Swastika Laboratories Ltd. in Swastika, Ontario, and ALS laboratory at Rouyn-Noranda, QC. For the high-grade intercepts, only ¼ of the core has been sent to laboratory for assaying.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (PGO, OGQ, APEGNB and AIPG) of GoldMinds Geoservices, independent qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2020/28/c4532.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Northern Lights Completes UAV Geological Surveys at Secret Pass
Northern Lights Resources Corp. (the “Company” or “Northern Lights”) (CNSX:NLR.CN) is pleased to announce that a team from MWH Geo Surveys International Inc. (MWH Geo-Surveys) are currently on site at the Secret Pass gold project in Arizona. MWH Geo Surveys have been appointed by the Company to complete drone based geological surveys as part of the 2020 phase one exploration program at Secret Pass. This work was initially planned to commence in March but due to COVIC-19 pandemic travel restrictions the start date was delayed.
MWH Geo Surveys are completing two key field programs at Secret Pass:
- 1) Orthophoto digital mapping survey which will generate a high resolution surface model of the entire 868 hectare license area; and
- 2) An aeromagnetic survey to produce a high resolution structural map that will be used to identify prominent structures that may host gold mineralization. The magnetic survey will be conducted on a 50 metre line spacing and will total approximately 200 line km of survey data.
The UAV survey field work is expected to be complete this week with interpretation of the results by a geophysicist to follow.
The results of this field work will be used to identify target zones at Tin Cup and other prospective sites on the Secret Pass License area for follow up exploration field work including drilling.
The scientific and technical data contained in this news release was reviewed and approved by Gary Artmont (Fellow Member AUSIMM #312718), Head of Geology and qualified person to Northern Lights Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Or
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona and the Medicine Springs, a high grade silver-zinc-lead property located in Elko County Nevada where Northern Lights is earning 100%.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com .
- Published in Mining, News Home, Northern Lights Resources, Uncategorized
San Marco Arranges $690,000 Private Placement
San Marco Resources Inc. (TSXV: SMN) announces that it has arranged a private placement of 3,000,000 units at a price of $0.23 per unit for gross proceeds of C$ 690,000. Each unit will consist of one common share and one share purchase warrant to purchase one common share for three years at a price of $0.30. No finder’s fees will be payable in connection with the placement.
The private placement is 100% subscribed by members of the Augusta Group including over 50% by Augusta Investments Inc. a company beneficially held by Richard W. Warke. The Augusta Group is a mining sector focused management group based in Canada and the United States. Augusta has an industry leading track record of value creation totalling over C$ 4.5 billion in exit transactions since 2011, and has strategic partnerships with the leading entrepreneurs in the mining sector. Additional information on the Augusta Group can be found at www.augustacorp.com
Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.
All the securities issued pursuant to this private placement will be subject to a four month restricted resale period. Completion of the placement is subject to the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.
About San Marco
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 current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.
For further information, contact:
Robert Willis, P. Eng.
Executive Director
Nancy Curry
Corporate Communications
Sharyn Alexander, M.Sc.
VP Technical Services
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55925
- Published in Mining, News Home, San Marco Resources
Canada Cobalt name change to Canada Silver Cobalt
Pursuant to a resolution passed by shareholders on May 7, 2020, Canada Cobalt Works Inc. has changed its name as follows. There is no consolidation of capital.
Effective at the opening on May 19, 2020, the common shares of Canada Silver Cobalt Works Inc. will commence trading on the TSX Venture Exchange, and the common shares of Canada Cobalt Works will be delisted. The company is classified as a mineral exploration/development company.
Capitalization: unlimited shares with no par value of which 92,604,360 shares are issued and outstanding
Transfer agent: Computershare Investor Services Inc.
Symbol: CCW (unchanged)
Cusip No.: 134852102 (unchanged)
- Published in Canada Cobalt Works, Mining, News Home