NewsSalazar Acquires Second Drill Rig to Accelerate Exploration Program
VANCOUVER, BRITISH COLUMBIA, Dec 02, 2010 (MARKETWIRE via COMTEX News Network) --
SalazarResources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) - Mr. Fredy Salazar,President and CEO, is pleased to announce that Salazar Resources Ltd.has acquired a second diamond drill rig to accelerate the explorationprogram at its Curipamba Project in Ecuador.
The second rig is anew Hydracore 4000 hydraulic diamond drill with a depth capacity of 500meters and 1000 meters for HQ core and NQ core respectively. Whilesignificantly greater capacity than the Hydracore 2000 currently ownedby Salazar, the power pack has been modified to utilize 3-60 HP dieselengines to limit maximum module weight and to allow the unit to remainman portable. The second drill will be allocated to exploration drillingon previously identified exploration targets at Curipamba while thefirst drill will remain dedicated to the delineation and extensiondrilling of the El Domo deposit. It is anticipated that the second drillwill be commissioned early in 2011.
Fredy Salazar, President ofSalazar Resources Ltd., stated, "The success of exploration drilling atthe gold rich El Domo copper-zinc deposit has necessitated that onedrill remain dedicated to advance resource definition and to testadjacent exploration targets as quickly as possible. The addition of asecond drill will allow us to ramp up our overall exploration effort inparallel to the El Domo drilling and drill test approximately fifteenadditional and highly prospective targets, some of which have similarcharacteristics to El Domo. The exploration targets for the second drillare currently being prioritized based upon their geophysical,geochemical and geological signatures."
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar, President & CEO
Salazar Resources Limited
SalazarResources Ltd. is a publicly-listed (TSX VENTURE: SRL)(FRANKFURT: CCG)mineral resource company engaged in the exploration and development ofnew highly prospective areas in Ecuador. Led by a senior Ecuadorianmanagement team and most notably by its namesake Fredy Salazar, thisteam has been instrumental in other major discoveries throughoutEcuador. Being an Ecuadorian based company gives the company a strategicadvantage enabling the company to complete exploration at a rapid pace.With an excellent property portfolio (3 projects - 42,900 hectares),good geopolitical positioning and a number of strategic corporate andfinancial partnerships, Salazar has positioned itself to be a strategicplayer in Ecuador and throughout South America.
Statementscontained in this news release that are not historical facts areforward-looking statements, which are subject to a number of known andunknown risks, uncertainness and other factors that may cause the actualresults to differ materially from those anticipated in the forwardlooking statements. Although we believe that the expectations in theforward-looking statements are reasonable, actual results may vary, andfuture results, levels of activity, performance or achievements cannotbe guaranteed.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy ofthis release.
Contacts: First Canadian Capital 1.866.580.8891 info@salazarresources.com www.salazarresources.com
SOURCE: Salazar Resources Limited
mailto:info@salazarresources.com https://www.salazarresources.com
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