NewsSalazar Discovers New Gold Zone 300m From El Domo VMS Deposit
VANCOUVER, BRITISH COLUMBIA, Feb 23, 2011 (MARKETWIRE via COMTEX News Network) --
SalazarResources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) - Mr. Fredy Salazar,President and CEO, is pleased to announce the latest assay results fromrecent drilling at the El Domo deposit in the Las Naves Central area ofits Curipamba Volcanic Massive Sulphide (VMS) Project in Ecuador.
Thelatest results from the Curipamba exploration project are from a drillhole located 300 m south east of the known El Domo mineralization (seeFigure 1: https://media3.marketwire.com/docs/SRL0223.pdf). DDH 88encountered an elevated gold and silver intersection typical of thatexpected at the margins and uppermost parts of major VMS systems.
Highlights:
- Curi-88 intersected 3.82 meters of mineralization averaging 4.77 g/t gold and 181.76 g/t silver.
"Thisnew gold zone is a very important discovery for Salazar as itreinforces the potential for the discovery of significant and numerousprecious metal deposits typically found at the periphery of VMS stylesystems such as El Domo," says Fredy Salazar, President and CEO. "Weplan to conduct additional drilling in this area determine if there is adirect link between this new gold zone and the massive sulphide horizonat El Domo, or if it is related to another entirely new system."
The following table provides a summary of the significant intersections in DDH 88:
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Width
From To (i) Gold Silver Copper Lead Zinc
Hole (m) (m) (m) (g/t) (g/t) (%) (%) (%)
CURI-88 142.32 146.13 3.81 4.77 181.76 0.11 0.37 0.64
Including 142.95 144.10 1.15 6.07 268.1 0.19 0.75 1.29
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(i) widths reported are not true width
Technical Highlights:
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Eleva- Hole Location of nearest
Drill tion Depth significant
Hole Section Azimuth Dip (m) (m) intersection
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DDH 88 4700N 270 -75 951.2 191.90 300 m south east of
degrees degrees DDH 85 at El Domo
strike Deposit and 450 m
east of DDH 86
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Explorationhole DDH 88, collared 300 m to the southeast of the known nearby ElDomo massive sulphide deposit, was targeted on the presence of a stronggeophysical anomaly, the proximity to a number of surficial mercuryanomalies and local geological mapping. The intersection containingexcellent precious metal values occurs at the contact between two majordacite lava flows. The mineralization comprises disseminated pyrite,yellow sphalerite, barite and minor galena. Although clearly stratiform,this new, relatively gold-rich, style of mineralization differs fromthe massive sulphide horizon encountered to date at the El Domo VMSdeposit.
Furthermore, DDH 88 opens up the possibility that dacitelava flows to the south, originally considered barren, host stratiformgold-enriched massive sulphide mineralization. Salazar Resources plansto scout drill these areas, in particular those with strong geophysical(Induced Polarization chargeability) anomalies, to test this potential.
Theabove information has been prepared under the supervision of Tom HealyP.Eng. who is designated as a Qualified Person as defined by NI-43-101with the ability and authority to verify the authenticity and validityof the data.
A QC program was used whereby 5% of all samples sentto the laboratory were standard samples with known silver and goldvalues. Sample preparation was performed by BSI Inspectorate Quito,Ecuador, using standard industry practices (sample prep minus 32).Analytical work was carried out at the BSI Inspectorate Laboratory inLima, Peru, using fire assay methods for gold (Au-25 procedure).Standard samples, blanks and duplicate check samples were randomlyinserted to the sample batch to ensure quality control.
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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