Salazar Announces an Updated 43-101 Resource Report of 5.53 Mt Indicated and 1.46 Mt Inferred at Its High Grade VMS El Domo Deposit
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/12/12 -- Salazar Resources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) is pleased to announce an updated National Instrument 43-101 compliant Mineral Resource Estimate for the Volcanogenic Massive Sulphide ("VMS") El Domo deposit on its 100% owned (30,327 ha) Curipamba project in Ecuador.
Roscoe Postle Associates Inc. of Toronto, Canada ("RPA"), independent resource estimation consultant for Salazar, has prepared and authorized the release of the Mineral Resource Estimate. The El Domo Mineral Resource Estimate is based on an NSR cutoff value of US$50 per tonne.
The Indicated Mineral Resource is 5.53 million tonnes at an average grade of 2.4% Cu, 2.5% Zn, 0.3% Pb, 2.8 g/t Au, and 48.4 g/t Ag, containing 292.6 million pounds Cu, 304.8 million pounds Zn, 36.5 million pounds Pb, 498.0 thousand ounces Au, and 8.6 million ounces Ag.
In the Inferred Mineral Resources category there are an additional 1.46 million tonnes at an average grade of 1.9% Cu, 2.8% Zn, 0.3% Pb, 2.4 g/t Au, and 52.2 g/t Ag, containing 61.2 million pounds Cu, 90.1 million pounds Zn, 9.6 million pounds Pb, 112.6 thousand ounces Au and 2.45 million ounces Ag.
Fredy Salazar, President and CEO, commented: "We are delighted with the new Mineral Resource Estimate which almost doubles the 2010 resource estimate. Additionally, there has been a significant increase in quality as the bulk of the Mineral Resource (79%) is now in the Indicated category. Further, since the cut-off date for the resource calculation an additional 7,000 metres have been drilled with continued encouraging results." Significant diamond drill-hole intersections to date from the El Domo deposit are contained in Table 2."
To view Figure 1 please click on the following link:
Salazar continues to maintain an aggressive exploration and delineation program at El Domo which remains open in several directions. The focus of the current diamond drilling program is to continue to increase the size and quality of the current resources at the El Domo deposit while additionally exploring for new zones of mineralization outside of the El Domo deposit."
To view Figure 2 please click on the following link:
The volcanogenic massive sulphide (VMS) mineralization at El Domo is a Kuroko-style deposit hosted within a volcano-sedimentary sequence of Eocene age.
Mineral Resource Estimate Methodology and Parameters
The El Domo Mineral Resource Estimate is based on 78 surface diamond drill holes and assays from a total of 874 samples. The current drill spacing at El Domo is approximately 50 metres. A conventional approach of geological interpretation and block modelling was utilized for the Mineral Resource Estimate at El Domo. The general methodology and parameters used are:
The resource estimate and other scientific and technical information contained in this news release were prepared by or under the supervision of Mr. Jamie Lavigne, P. Geo, of Roscoe Postle Associates Inc., an independent "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The NI 43-101 technical report in respect of the resource estimate disclosed herein will be filed on SEDAR within 45 days of the date of this news 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 an Ecuadorian based company gives Salazar Resources Ltd. 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 . 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 Limited
Investor Relations
647-925-8981
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Datum: 12.01.2012 - 14:05 Uhr
Sprache: Deutsch
News-ID 103620
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Mining & Metals
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