Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
San Marco Resources (TSXV: SMN) received a 5-year, area-based exploration permit for the Buck gold/silver/zinc project, located in British Columbia, western Canada.
In a press release, San Marco said the permit allows for substantial drilling on the property, which will help test the known mineralized footprint, as well as outline additional targets for potential new discoveries.
Buck is within the Nechako-Chilcotin plateau – a region that represents strong, widespread, subduction-related metallogeny
“The fully-funded Phase I drilling program will consist of approximately 2,000 metres of HQ drill core, most of which is in areas where known gold/silver/zinc mineralization is open in all directions,” the media brief states.
The Vancouver-based miner also reported that its geoscience team has spent months re-evaluating the 50-plus years of previous exploration data and believes the Buck property hosts a large, altered breccia system, with gold and silver mineralization widespread throughout and open in all directions.
“Historical drill data indicates mineralization is contained in high-grade sub-sections that are either at surface or near-surface, supporting a potential bulk tonnage deposit model,” San Marco said. “The team intends to continue to analyze historic data, including surface samples, trenching, and geophysical data, to better outline and expand the mineralized footprint and generate additional regional targets.”
Buck sits south of the city of Houston, in the north-central part of British Columbia.
