Salazar Intersects New Massive Sulphide Lens in Curipamba With 13.60 Meters of 11.03 g/t Gold, 379.60 g/t Silver, 3.45% Copper, 25.20% Zinc and 1.58% Lead
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/25/11 -- Salazar Resources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) is pleased to report new assays from the ongoing diamond drilling program on its 100% owned (30,327 ha) Curipamba volcanogenic massive sulphide project in Ecuador.
-- Hole CURI-123 intersected 13.60 meters of 3.45% copper, 25.20% zinc,
11.03 g/t gold and 379.60 g/t silver in a new massive sulphide lens in
the precious metals rich El Domo deposit (Figure 1;Table 1; Table 2).
This massive sulphide intersection is interpreted to represent a new
facies of the El Domo deposit. This hole is located 70 meters South to
the anomaly El Roble 1 fault, that reports 3.6 meters at an average of
15.12 g/t gold, 258 g/t silver; 0.56% copper, 3.25% lead and 5.25% zinc
(ref. News Release of October 18, 2007).
The intersection in CURI-123 is close to the Roble 1 fault which flanks the northwestern side of the El Domo deposit. Previous exploration had identified blocks of massive sulphide entrained in the fault (News Release April 3, 2008). The intersection in CURI-123 is extremely important as it confirms the presence of another high grade lens of massive sulphide mineralization located approximately 100 meters north of the last previously recognized high grade mineralization (Figure 1). It also opens the possibility that the mineralization may extend to the west beneath the flanking andesite. A similar situation exists along the east side of the deposit where drilling has intersected mineralization beneath an andesite sill.
Holes CURI-117, 119, 120, 121, 123, 125 and 127 were drilled on two sections at the northern end of the El Domo deposit to test the prospective stratigraphy. All holes intersected the stratigraphy that hosts the El Domo deposit. The intersections in CURI-121 and CURI-127 indicate a thinning eastwards and southwards of the favourable stratigraphy. Hole CURI-119 was collared approximately 150 meters east of CURI-123 and drilled towards the east.
Mr. Salazar says, 'The excellent results from hole 123 indicate the presence of another high grade zone to the northwest. Further drilling is required to test whether the mineralization continues under the andesite intrusive to the west as it does to the east (under the El Domo intrusive).'
Table 1 Significant Intersections
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Hole From To Width(i) Gold Silver Copper Lead Zinc
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# (m) (m) (m) (g/t) (g/t) (%) (%) (%)
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CURI-127 67.70 69.00 1.30 2.58 77.01 0.43 0.17 4.20
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CURI-125 67.90 86.43 18.53 0.24 16.73 0.09 0.15 1.24
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incl 67.90 71.00 3.10 0.76 73.00 0.04 0.36 0.83
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incl 81.95 86.43 4.48 0.12 5.00 0.16 0.05 2.01
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CURI-123 65.10 77.10 13.60 11.03 379.60 3.45 1.58 25.20
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incl 67.80 76.35 8.55 14.09 524.40 4.73 2.06 36.59
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CURI-121 115.50 117.58 2.08 2.14 25.97 0.02 0.07
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123.87 128.10 4.23 0.53 58.38 1.08 0.08 0.61
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CURI-120 NSV(ii)
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CURI-119 87.26 89.64 2.38 0.78 9.05 0.01
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CURI-117 NSV(ii)
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(i) Widths represent down hole core lengths. (ii) No significant values.
Table 2 Drill Hole Specifications
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Drill Hole Section Easting Northing Elev. (m) Azimuth Dip EOH (m)
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CURI-127 5600 N 695100 9855600 943 270 -60 84.80
degrees degrees
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CURI-125 5650 N 695097 9855650 936 270 -70 119.95
degrees degrees
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CURI-123 5650 N 695096 9855650 933 270 -50 239.40
degrees degrees
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CURI-121 5650 N 695101 9855650 933 90 -75 149.90
degrees degrees
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CURI-120 5650 N 695151 9855650 933 90 -75 140.90
degrees degrees
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CURI-119 5650 N 695251 9855650 952 90 -75 121.75
degrees degrees
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CURI-117 5650 N 695196 9855651 939 90 -75 120.00
degrees degrees
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Drill core samples are analyzed by ALS Chemex Labs Ltd. and IBS Inspectorate, ISO 9001:2000 certified laboratories. Salazar maintains a QAQC 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 (TSX VENTURE: SRL)(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 based in Ecuador', thus having thorough knowledge of local human and environmental issues, gives the company a strategic advantage, enabling it 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.
To view Figure 1, click on the following link: http://media3.marketwire.com/docs/s1024.pdf
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Salazar Resources Limited
Greig Hutton
519-473-9998
ghutton@salazarresources.com
www.salazarresources.com