Salazar Resources Ltd V.SRL

Alternate Symbol(s): SRLZF

Metals & Mining Industrial Metals & Minerals

Salazar Resources Limited is a junior mineral exploration company. The Company is engaged in the acquisition and exploration of mineral properties located in Latin America. Its mineral properties are situated in Ecuador. Its projects include Curipamba Project, Pijili Project and Santiago Project. It holds interests in the various projects in Ecuador, such as Macara Project; Ruminahui Project; Los Osos Concession; El Potro Concession, and Los Santos. It holds 100% interest in the Curipamba Project, consisting of seven concessions located in the provinces of Bolivar and Los Rios, Ecuador. Its Pijili Project is situated in the province of Azuay, Ecuador. The Company owns 100% interest in the Santiago Property situated in the province of Loja, Ecuador. The Company owns a 100% interest in two concessions (the Ruminahui Project) located in the province of Pichincha, Ecuador. The Ruminahui Project covers around 2,910 hectares and is located around 100 kilometers (km) northwest of Quito.

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Salazar Resources Ltd

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Post by TheSlowLaneon Feb 23, 2012 6:51am

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Post# 19571537

News...high grade Au/Ag at the Santiago project

Salazar Reports High Grade Gold & Silver from Santiago Project, Ecuador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2012) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) (or "the Company") is pleased to provide an update on its Santiago project in Ecuador. In addition to the Curipamba Project the Company also holds a 100% interest in the Ruminahui, Mendez, and Santiago projects. While the focus of the Company's current exploration activities is on advancing the Curipamba project, the Company has conducted initial field visits to each of its other Projects and at this time is pleased to report on initial exploration results from the Santiago Project.

The 2,350 hectare Santiago property comprises a large mineralized hydrothermal system with the upper parts dominated by a rhyolite/dacite intrusive complex displaying intense quartz-alunite alteration. The veins and structures sampled and reported here occur in volcanic rocks adjacent to a felsic intrusive. Further exploration is required to determine the orientation(s) of the structures which control the development and distribution of the quartz veins/breccias. The project is located within Tertiary volcanics, in a geological setting similar to the Quimsacocha deposit (Iamgold Corp.) and the Rio Blanco deposit (International Minerals Corp.) Located 110 km west of the FDN gold deposit (Kinross Gold Corp.) and 60 km south from the Quimsacocha project.

Sulphide-bearing quartz veins/breccias in the northern part of the property were targeted for initial sampling (Figure 1). Reconnaissance chip sampling (52 samples) of five major vein/breccia systems returned significant (Table 1) anomalous gold, silver, and molybdenum values including:

•		Española Vein

		2.0m @ 28.1 g/t Au and 231 g/t Ag
		1.0m @ 26.0 g/t Au and 242 g/t Ag
		1.0m @ 18.2 g/t Au and 252 g/t Ag
		1.0m @ 4.8 g/t Au and 442 g/t Ag

•		Quartz-Tourmaline Vein

		1.9m @ 1.19 g/t Au, 14.3 g/t Ag and 296 ppm Mo
		3.3m @ 0.59 g/t Au, 36.6 g/t Ag and 390 ppm Mo

•		Ribs Zone and Ancha Vein

		1m @ 1.29 g/t Au and >100 g/t Ag
		1m @ 1.65 g/t Au and >100 g/t Ag

•		F.U. Structure

		1.40m @ 4.8 g/t Au and 378 g/t Ag
		1.20m @ 6.4 g/t Au and 136 g/t Ag
		1.20m @ 4.2 g/t Au and 183 g/t Ag