Salazar Drilling Expands El Domo Mineralization and Intercepts 16.52 Meters of 4.49% Copper and 0.51 g/t Gold
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/14/12 -- Salazar Resources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) - is pleased to report results from an additional five holes (1,217.56 meters) from the ongoing diamond drill program on its 100% owned (30,327 ha) Curipamba volcanogenic massive sulphide (VMS) project in Ecuador.
The 5 holes were drilled to test for mineralization under the andesite sill, east of the El Domo resource block (Figure 1), and to further test the area surrounding hole CURI-160 which returned 10.31 meters grading 0.86 g/t gold, 17.32 g/t silver and 6.02% copper (as reported on February 8, 2012). These holes represent new exploratory drilling and were not included in the new El Domo resource estimate which was reported on January 12, 2012.
Highlights:
-- CURI-164, drilled approximately 80 meters east of CURI-156, intersected
16.52 meters grading 0.51 g/t gold, 17.10 g/t silver, 4.49 % copper and
0.81 % zinc.
-- CURI-165, drilled approximately 70 meters east of CURI-151, intersected
17.50 meters grading 0.49 g/t gold, 5.10 g/t silver and 1.19% copper
-- CURI-166, drilled approximately 50 meters east of CURI-79, intersected
4.79 meters grading 0.88 g/t gold, 8.58 g/t silver, 1.27% copper and
1.09% zinc
These very positive intersections in holes CURI-165 and CURI-166, combined with the significant intersections obtained previously in holes CURI-160, 161 and 163 (as reported on February 8 & 28, 2012), have identified an area of mineralization, approximately 150 X 150 meters, adjacent to the east of the northern block of Inferred resources under the andesite (Figure 1). As well, the mineralization remains open into a large area further to the east and south bounded by significant intersections in holes Curi-164 165 and 155 (as reported on January 26, 2012). In particular the intersection in CURI-164 along with the strong intersection obtained in CURI-156 (as reported on February 8, 2012), indicates the extension eastward of the southern block of Inferred mineralization.
Fredy Salazar, President and CEO, commented; 'We are delighted with these results which continue to open up large areas of new mineralization under the andesite sill and east of the established resource blocks. We look forward to continued exploration and development of the El Domo deposit.'
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Table 1: Significant Intersections
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FROM TO WIDTH Au Ag Cu Pb Zn
HOLE ID (m) (m) (m)(i) (g/t) (g/t) (%) (%) (%)
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CURI-164 260.18 276.70 16.52 0.508 17.10 4.49 0.04 0.81
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including 261.82 265.10 3.28 0.570 42.34 6.75 0.01 0.14
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including 266.80 273.93 7.13 0.291 9.26 6.55 0.01 1.64
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CURI-165 209.50 227.00 17.50 0.490 5.10 1.19 0.00 0.10
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including 209.50 217.00 7.50 0.913 9.92 2.16 0.01 0.21
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263.00 264.00 1.00 3.329 10.80 0.01 0.01 0.02
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CURI-166 164.08 168.87 4.79 0.883 8.58 1.27 0.03 1.09
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including 165.98 166.62 0.64 1.662 25.58 4.72 0.03 6.08
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193.00 197.67 4.67 0.613 8.11 0.23 0.02 1.87
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CURI-167 182.55 184.50 1.95 0.850 7.32 0.29 0.09 1.04
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199.18 203.00 3.82 0.110 3.86 0.14 0.42 1.15
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CURI-168 112.20 115.41 3.21 0.190 11.65 0.48 0.04 0.39
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(i) Widths represent down hole core lengths.
To view Figure 1: Map of El Domo Pierce Points with Resource Outlines, please visit: http://media3.marketwire.com/docs/srl314_F1.pdf
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Table 2: Drill Hole Specifications
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Az Dip
Hole-ID Easting Northing Elev degrees degrees EOH
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CURI-164 695368.92 9855049.96 1061.41 270 -85 311.80
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CURI-165 695400.76 9855250.03 1043.37 90 -85 284.80
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CURI-166 695375.67 9855399.88 995.29 90 -85 231.00
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CURI-167 695319.50 9855450.38 990.06 90 -82 264.00
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CURI-168 695149.43 9854899.93 924.23 270 -85 125.95
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CURI-164 intersected massive sulphide underlain by strong stockwork mineralization. CURI-165 intersected faulted massive to semi massive sulphide. CURI-166 intersected a zone of faulted massive and semi massive mineralization. CURI-167 intersected intervals of semi massive sulphide while CURI-168 intersected mineralized hydrothermal dacite breccia.
QA/QC
Drill core samples are analyzed by ALS Chemex Labs Ltd. and IBS Inspectorate, ISO 9001:2000 certified laboratories. Salazar maintains a QA/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 (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, are 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.
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 Ltd.
Investor Relations
647-925-8981
infosalazar@salazarresources.com
www.salazarresources.com