Business
San Marco Resources Provides Corporate Update and Growth Strategy for 2019
Vancouver, British Columbia--(Newsfile Corp. - April 18, 2019) - San Marco Resources Inc. (TSX...
About this update from Sun Summit Minerals Corp.
[{"type":"text","content":"San Marco Resources Provides Corporate Update and Growth Strategy for 2019Vancouver, British Columbia--(Newsfile Corp. - April 18, 2019) - San Marco Resources Inc. (TSXV: SMN) (\"San Marco\" or the \"Company\") is pleased to provide a corporate update on continued exploration activities at its existing projects in Sonora, Mexico along with ongoing evaluation of possible new project acquisitions currently under review. San Marco continues to hold a diversified portfolio of prospective property assets in Mexico's mining-friendly Sonora State and is continually pursuing its efforts to identify potential new property acquisitions to add value to the Company's portfolio. The Company's near-term strategy for 2019 is expected to include the following: Near-term exploration programs and budgets being finalized for the Company's 100% owned Espiritu SMR and 1068 properties with a focus on target delineation;Follow-up work programs being contemplated for multiple underexplored areas within the 100% owned Chunibas Project (see details below);Multiple submissions for highly prospective new property acquisitions becoming available through the Mexican government lottery (libertad de terrenos);Strategic targeting and evaluation of multiple potential new property acquisitions in various jurisdictions; andOngoing potential partnership discussions regarding the Company's existing assets.Christian Grijalva, CEO of San Marco, stated: \"We are excited about the outlook for San Marco in the months ahead. The Company maintains a comfortable working capital balance and relatively tight share structure. This, combined with the Company's current suite of property assets and extensive in-country intelligence to source possible new acquisitions under reasonable terms, provides the Company numerous avenues to bring growth and value for its shareholders. We look forward to providing additional details as our work progresses.\"As announced in August 2018, San Marco signed an earn-in agreement with a wholly-owned subsidiary of Antofagasta plc over San Marco's 100% owned Chunibas Project in Sonora State, Mexico (see news release August 9, 2018). A firm exploration expenditure commitment of US$700,000 funded by Antofagasta was deployed for an initial phase of drilling in the partnership. Results from the drill program were announced in December 2018.Though the in...