VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2011) - Salazar Resources Ltd. (News - Market indicators)(FRANKFURT:CCG) is pleased to report the latest assay results from the ongoing Diamond drilling program on its 100% owned (30,327 ha), precious metals' rich Curipamba volcanogenic massive sulphide project in Ecuador. Hole 104 intersected an impressive 21.43 meters of high grade mineralization grading 4.01 g/t gold, 34.42 g/t silver, 3.23% copper and 1.47% zinc (Table 1). This was an infill hole between high grade copper-gold intersections in holes 39 and 56, and is one of number of holes planned to be drilled in a highly prospective area of the deposit containing copper and gold-rich mineralization (Figure 1). This area measures approximately 300 X 125 meters and may increase in size with drilling. Salazar currently has two drills delineating and extending the deposit.
Mr. Salazar says, "The impressive intersection in hole 104 confirms the persistence of high grade copper and gold mineralization in this area of the deposit and indicates potential to extend the mineralization to the west."
Drilling, to-date, on the precious metals rich El Domo volcanogenic massive sulphide (VMS) deposit has outlined a curvilinear deposit with a strike length of approximately 850 m north-south and with east-west widths ranging between 200 to 300 meters.
Table 1 Significant Intersections
| Hole |
From
(m) |
To
(m) |
Width
*(m) |
Gold
(g/t) |
Silver
(g/t) |
Copper
(%) |
Lead
(%) |
Zinc
(%) |
| CURI-100 |
43.35 |
55.45 |
12.10 |
1.83 |
37.53 |
1.12 |
0.13 |
1.34 |
| including |
43.35 |
44.68 |
1.33 |
12.58 |
260.44 |
6.94 |
0.66 |
9.17 |
| and |
67.95 |
73.16 |
5.21 |
0.84 |
30.60 |
0.65 |
0.19 |
1.22 |
| and |
77.43 |
78.50 |
1.07 |
1.59 |
7.50 |
0.10 |
0.33 |
0.89 |
| CURI-101 |
No significant mineralization encountered in this hole |
| CURI-102 |
96.50 |
97.50 |
1.00 |
1.08 |
15.40 |
0.13 |
0.07 |
0.80 |
| and |
101.53 |
104.88 |
3.35 |
1.58 |
19.67 |
1.26 |
0.07 |
0.46 |
| and |
144.93 |
145.72 |
0.79 |
5.74 |
59.20 |
0.77 |
0.04 |
3.56 |
| and |
157.50 |
158.33 |
0.83 |
2.52 |
33.50 |
2.07 |
0.02 |
1.65 |
| and |
186.00 |
187.30 |
1.30 |
2.71 |
66.50 |
1.72 |
0.32 |
3.45 |
| CURI-103 |
116.42 |
119.95 |
3.53 |
0.65 |
17.47 |
1.38 |
0.06 |
0.86 |
| CURI-104 |
56.44 |
77.67 |
21.23 |
4.01 |
34.42 |
3.23 |
0.09 |
1.47 |
| including |
57.80 |
71.80 |
14.00 |
5.52 |
49.74 |
4.42 |
0.12 |
2.13 |
| including |
62.42 |
71.80 |
9.38 |
6.49 |
51.71 |
5.60 |
0.10 |
2.61 |
| *Widths represent down hole core lengths. |
Table 2 Hole locations and targets
| Drill Hole |
Section |
Azimuth
(deg) |
Dip
(deg) |
Elevation
(m) |
Hole
Depth
(m) |
|
Location of nearest significant intersection |
| DDH 100 |
5150 N |
90 |
-75 |
903.29 |
113.95 |
|
50m east of DDH 87 – 2.12 g/t Au; 24.65 g/t Ag; 4.97% Cu and 1.11% Zn over 27.61 meters |
| DDH 101 |
4900 N |
0 |
-90 |
994.08 |
227.80 |
|
850m west of El Domo Deposit, geophysical anomaly (medium chargeability and medium resistivity) |
| DDH 102 |
5250 N |
90 |
-75 |
942.86 |
188.80 |
|
Re-drill in area of DDH 36 and 37 |
| DDH 103 |
5200 N |
270 |
-80 |
952.25 |
293.80 |
|
50m east of DDH 62 – 5.50 g/t Au; 101.98 g/t Ag; 1.22% Cu and 6.73% Zn over 6.04 meters |
| DDH 104 |
5250 N |
90 |
-75 |
909.79 |
140.80 |
|
50m south of DDH 39 - 3.62 g/tAu; 51.75g/t Ag; 1.19% Cu, and 4.54% Zn over 12.37 meters
50m north of DDH – 56 - 11.32g/tAu; 195.5g/tAg; 3.75% Cu and 8.19% Zn over 15.95 meters |
Holes 100 and 102 were drilled along the east side of the deposit. Hole 100 intersected 12.10 meters of mineralization (Table 2). The mineralization likely continues to the east beneath the andesite sill as evidenced by hole 98 (News Release of March 29, 2011). Hole 102, which intersected faulted and broken ground and was stopped at 188 meters, intersected several zones of gold, silver and copper mineralization. An undercut/deeper test is warranted in this locale.
Hole 103, collared approximately 26 meters southwest of hole 98, tested for mineralization below the andesite sill. It intersected clasts of massive sulphide in a fault zone in andesite, and bottomed in dacite. The depth at which the sulphide clasts from a massive sulphide horizon became entrained in the fault zone, and how far they may have moved, is currently unknown. However, hole 98 indicated the prospective stratigraphy was down faulted along WNW faults and the VMS continues to be present at the base of the andesite.
In conjunction with the Diamond drilling program the Company is also conducting regional prospecting, mapping, stream sediment sampling and soil sampling to identify and develop new targets.
Drill core samples are analyzed by ALS Chemex Labs Ltd., an ISO 9001:2000 certified laboratory. Prospecting, soil and stream sediment samples are analyzed by BSI Inspectorate Services an ISO 9001:2000 certified laboratory which also has an accreditation of ISO 17025. Salazar maintains a QC program whereby standard samples and blanks are inserted into each batch of samples to ensure quality control.
Kieran Downes, P.Geo., a qualified person as defined by National Instrument 43-101, is responsible for the technical information provided in this release.
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar, President & CEO
Salazar Resources Limited
About Salazar Resources: Salazar Resources Ltd. is a publicly-listed (News - Market indicators)(FRANKFURT:CCG) mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador. Being an Ecuadorian based company gives the company a strategic advantage 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 and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador and throughout South America.
This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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