Drill Program Extends El Domo Deposit; Salazar Cuts 8.18 Meters of 3.3 g/t Gold, 100.5 g/t Silver & 9.95% Zinc
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/18/11 -- Salazar Resources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) reports new high grade intersections from the ongoing diamond drill program on its 100% owned (30,327 ha), precious metals rich Curipamba volcanogenic massive sulphide project in Ecuador. Step out hole CURI-122 cut significant mineralization associated with massive sulphide horizons:
-- Hole CURI-122 intersected 8.18 meters of 3.3 g/t gold, 100.05 g/t
silver, 0.68% copper, 0.87% lead and 9.95% zinc, including 2.8 meters of
9.28 g/t gold, 244.07 g/t silver, 1.09% copper, 2.34% lead and 19.33%
zinc (Table 1; Figure 1). This hole was drilled as a step out to the
west of CURI-08-046 which intersected 16.33 meters grading 3.59 g/t
gold, 114.2 g/t silver and 3.42% copper (News Release of April 7, 2008).
Five holes, CURI-116, 118, 122, 124 and 126, were drilled as step outs along the western periphery of an area of high grade mineralization in the El Domo deposit (Figure 1; Table 1; Table 2). Holes CURI-118 and 122 cut massive sulphide mineralization indicating the mineralization may continue to the Southwest of the current drilling. Hole CURI-116, 124, and 126 cut stockwork mineralization.
Mr. Salazar says, 'We are very pleased to see the results in holes CURI-118 and CURI-122 as they provide evidence of mineralization continuing in the extreme southwest of the El Domo Deposit. These drill holes indicate that the mineralization is open to the southwest and the Company will continue to drill test to better define the mineralization in this area.'
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-116 43.25 48.92 5.67 0.57 22.65 0.13 0.11 0.79
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CURI-118 60.20 64.48 4.28 2.10 100.02 0.09 0.26 0.68
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incl 60.20 62.00 1.80 4.87 231.45 0.12 0.59 0.88
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and 71.02 72.50 1.48 0.07 4.50 0.13 0.04 2.83
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CURI-122 53.68 61.86 8.18 3.30 100.05 0.68 0.87 9.95
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incl 54.54 56.48 2.80 9.28 244.07 1.09 2.34 19.33
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85.50 106.00 20.50 0.03 1.30 0.11 0.01 1.30
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CURI-124 NSV(ii)
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CURI-126 89.00 100.42 11.42 0.52 25.92 0.07 0.08 0.65
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incl 93.00 100.42 7.42 0.67 31.84 0.10 0.10 0.95
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and 95.00 96.83 1.83 1.37 73.20 0.03 0.16 0.34
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(i)Widths represent down hole core lengths. (ii) No significant values.
Table 2 Drill Hole Specifications
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EOH
Drill Hole Section Easting Northing Elev. (m) Azimuth Dip (m)
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CURI-116 5150 694900 9855150 844 90 -75 degrees 94.25
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CURI-118 5100 694919 9855100 859 270 -65 degrees 125.95
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CURI-122 5100 694923 9855100 859 90 -75 degrees 140.95
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CURI-124 5050 694941 9855050 873 90 -70 degrees 95.95
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CURI-126 5000 694931 9855000 868 90 -70 degrees 128.95
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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 the map accompanying this press release, click on the following link: http://media3.marketwire.com/docs/s1017.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
