🕐24.02.11 - 13:54 Uhr
Salazar Resources Ltd. (TSX-V:SRL): Salazar Discovers New Gold Zone 300m From El Domo VMS Deposit
Salazar Resources Ltd.
News Release
February 23, 2011
TSX-V:SRL
_____
SALAZAR DISCOVERS NEW GOLD ZONE 300M FROM EL DOMO VMS DEPOSIT
VANCOUVER, BRITISH COLUMBIA, February 23, 2011 - Salazar Resources Ltd.
(TSX.V:SRL; FSE:CCG) - Mr.
Fredy Salazar, President and CEO, is pleased to
announce the latest assay results from recent drilling at the El Domo
deposit in the Las Naves Central area of its Curipamba Volcanic Massive
Sulphide (VMS) Project in Ecuador.
The latest results from the Curipamba exploration project are from a drill
hole located 300 m south east of the known El Domo mineralization (see
Figure 1).
DDH 88 encountered an elevated gold and silver intersection
typical of that expected at the margins and uppermost parts of major VMS
systems.
Highlights:
* Curi-88 intersected 3.82 meters of mineralization averaging 4.77
g/t gold and 181.76 g/t silver.
This new gold zone is a very important discovery for Salazar as it
reinforces the potential for the discovery of significant and numerous
precious metal deposits typically found at the periphery of VMS style
systems such as El Domo says Fredy Salazar, President and CEO.
We plan
to conduct additional drilling in this area determine if there is a direct
link between this new gold zone and the massive sulphide horizon at El
Domo, or if it is related to another entirely new system.
The following table provides a summary of the significant intersections in
DDH 88:
Hole
From (m)
To
(m)
Width* (m)
Gold
(g/t)
Silver
(g/t)
Copper
(%)
Lead
(%)
Zinc
(%)
CURI-88
142.32
146.13
3.81
4.77
181.76
0.11
0.37
0.64
Including
142.95
144.10
1.15
6.07
268.1
0.19
0.75
1.29
*widths reported are not true width
Technical Highlights:
Drill Hole
Section
Azimuth
Dip
Elevation (m)
Hole Depth (m)
Location of nearest significant intersection
DDH 88
4700N
270 strike
-75
951.2
191.90
300 m south east of DDH 85 at El Domo Deposit and
450 m east of DDH 86
Exploration hole DDH 88, collared 300 m to the southeast of the known
nearby El Domo massive sulphide deposit, was targeted on the presence of a
strong geophysical anomaly, the proximity to a number of surficial mercury
anomalies and local geological mapping.
The intersection containing
excellent precious metal values occurs at the contact between two major
dacite lava flows.
The mineralization comprises disseminated pyrite, yellow
sphalerite, barite and minor galena.
Although clearly stratiform, this new,
relatively gold-rich, style of mineralization differs from the massive
sulphide horizon encountered to date at the El Domo VMS deposit.
Furthermore, DDH 88 opens up the possibility that dacite lava flows to the
south, originally considered barren, host stratiform gold-enriched massive
sulphide mineralization.
Salazar Resources plans to scout drill these
areas, in particular those with strong geophysical (Induced Polarization
chargeability) anomalies, to test this potential.
The above information has been prepared under the supervision of Tom Healy
P.Eng.
who is designated as a Qualified Person as defined by NI-43-101 with
the ability and authority to verify the authenticity and validity of the
data.
A QC program was used whereby 5% of all samples sent to the laboratory were
standard samples with known silver and gold values.
Sample preparation was
performed by BSI Inspectorate Quito, Ecuador, using standard industry
practices (sample prep minus 32).
Analytical work was carried out at the
BSI Inspectorate Laboratory in Lima, Peru, using fire assay methods for
gold (Au-25 procedure).
Standard samples, blanks and duplicate check
samples were randomly inserted to the sample batch to ensure quality
control.
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar
Fredy Salazar,
President & CEO
Salazar Resources Limited
Salazar Resources Ltd.
is a publicly-listed (TSX.V: SRL; FSE: 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.
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward- looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
For further information on Salazar Resources Ltd., contact: First Canadian
Capital Corp
at 416-742-5600 or toll free at 1-866-580-8891 or
email to
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