Vancouver junior’s stock jumps on option to acquire gold-silver project
San Marco Resources’ (TSXV: SMN) stock jumped Tuesday, after the Vancouver-based explorer announced it entered into an option agreement to acquire a 100% interest in the Buck gold/silver zinc project near Houston in north-central British Columbia.
The optionors notably vended the Tatogga project in the Golden Triangle to GT Gold Corp.
The Buck property is a land package totaling about 15,000 hectares with exploration potential for possible new discoveries at multiple untested targets including porphyry copper deposit, high grade, structurally controlled gold/silver mineralization and additional mineralized breccia bodies, the company said in a media release.
The property is considered to be part of the Telkwa Formation of the lower Jurassic Hazelton Group, similar to some major bulk tonnage gold deposits in B.C., such as NewGold’s Blackwater-Davidson deposit, and in close proximity to several former operating mines including Equity Silver’s eponymous mine, Centerra Gold’s Endako and Imperial Metals’ Huckleberry.
68 prior drill holes have been conducted within the property, with most holes ended in gold/silver/zinc mineralization, San Marco said.
At market close Tuesday, San Marco’s stock was up over 28%, with over 1.2 million shares traded. The company’s average trading volume is 68,776, and it has a C$3 million market capitalization.