Salazar Resources Ltd.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | Ecuador Office: Av. 10 de Agosto N37-232 y Villalengua, Edif. Cominesa of. 31 Quito, Ecuador |
|
| Tel No.: | 593-2-227-8975 | |
| Fax No.: | 593-2-227-8975 | |
| Web Site: | www.salazarresources.com | |
| Corporate Email: | ghutton@salazarresources.com | fsalazar@salazarresources.com |
| Contact Person: | Greig Huttonn (519) 473-9998 |
Fredy Salazar 593-2-246-9611, (604) 685-9316 |
| Position: | Manager, Investor Relations | President & CEO |
| Traded Market: | TSX-V | Frankfurt |
| Traded Symbol: | SRL | CCG |
| Outstanding Shares: | 39,746,788 | |
| Fully Diluted: | 47.3 Million | |
| 52 Week High: | $ 1.60 | |
| 52 Week Low: | $ 0.74 | |
| Present Price: | Click Here | |
INTRODUCTION
Salazar Resources Ltd. is a 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.
PROJECT IN HAND
Curipamba Volcanogenic Massive Sulphide (VMS) Project, Central-West Ecuador
Salazar's primary focus is its 100%-owned Curipamba VMS project located in central-west Ecuador, about a 2.5-hour drive from Ecuador's major port city, Guayaquil. The Company owns 7 concessions (30,327.18 hectares) at the Curipamba project. There are a number of priority areas identified on the Curipamba project including sub-areas like Sesmo Sur, Las Naves and Piedras Blancas. At this early stage, the most promising prospect is at Naves Central (El Domo) which is easily accessible by road from the town of Ventanas, 25 km to the west.
2010-2011 drilling at the El Domo deposit has intersected high grade precious and base metals over significant widths. Following are some highlights from recent drilling at El Domo:
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Hole Curi-56: 15.95 metres of 11.32 g/t gold, 195.31 g/t silver, 3.75% copper and 8.19% zinc;
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Hole Curi-60: 32.36 metres of 3.75 g/t gold, 39.18 g/t silver, 3.67% copper and 1.44% zinc;
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Hole Curi-71: 1.91 metres of 23.87 g/t gold, 1,252.7 g/t silver, 2.29% copper, 5.69% lead and 26.28% zinc;
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Hole Curi-77: 11.53 metres of 10.09 g/t gold, 129.65 g/t silver, 8.51% copper and 8.0% zinc, including 3.86 metres of 28.20 g/t gold, 359.50 g/t silver, 8.86% copper and 20.45% zinc;
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Hole Curi-87: 17.45 metres of 3.05 g/t gold, 35.6 g/t silver, 6.76% copper and 1.56% zinc;
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Hole Curi-99: 22.70 meters of 6.73 g/t gold, 45.80 g/t silver and 4.69% copper, including 9.89 meters of 10.77 g/t gold, 84.10 g/t silver, 9.86% copper and 3.13% zinc;
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Hole Curi-104: 21.43 meters of 4.01 g/t gold, 34.42 g/t silver, 3.23% copper and 1.47 % zinc.
On September 28th, 2010, Salazar released the following updated, NI 43-101 compliant resource estimate for its El Domo copper-gold-zinc deposit. The resource estimate was prepared by Scott Wilson Roscoe Postle Associates.
El Domo Deposit Resource Estimate
|
Category |
Tonnes |
Copper (%) |
Zinc (%) |
Lead (%) |
Gold (g/t) |
Silver (g/t) |
|
Indicated |
623,000 |
3.7 |
4.16 |
0.41 |
3.0 |
98 |
|
Inferred |
2,499,000 |
3.24 |
4.28 |
0.37 |
4.3 |
79.5 |
|
Category |
Copper (M lbs) |
Zinc (M lbs) |
Lead (M lbs) |
Gold (ounces) |
Silver (ounces) |
|
Indicated |
50.8 |
57.1 |
5.6 |
60,000 |
1,963,000 |
|
Inferred |
178.5 |
235.7 |
20.4 |
346,000 |
6,388,000 |
In conjunction with the diamond drilling program the Company is also conducting regional prospecting, mapping, stream sediment sampling and soil sampling to identify and develop new targets.
Curipamba / El Domo Project Highlights:
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Precious metal rich polymetallic base metal deposit
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Richest combined metal grades of all VMS camps in Andes
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North-south strike length of 850 metres averaging 200 metres width and 10 metres thickness
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Open to north, south west and at depth
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Flat lying and near surface (50 metres below surface)
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Districts similar to Curipamba usually contain 5 to 8 El Domo type deposits
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VMS camps typically contain at least 20 Million tonnes
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Salazar management based in Ecuador and instrumental in the country's most significant discoveries, including Aurelian's Fruta del Norte and IAM Gold's Quimsacocha and Mozo deposits
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Salazar land package in Curipamba VMS camp comprises 42,900 hectares.
2011 Strategies and Milestones
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20,000 metres of drilling planned
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Minimum two drills operating at Curipamba throughout 2011
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El Domo resource upgrade anticipated in Q2
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Infill and extension drilling at El Domo deposit
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Regional geophysics and target generation
Testing of high priority targets including:
El Gallo: 350 metres southwest of El Domo deposit
Prior drilling intersected 5.8 g/t gold and 66 g/t silver over 8 metres (hole 16) and 9.45 g/t gold, 338 g/t silver over 4.6 metres (hole 17).
Sesmo: 1,000 metres north of El Domo deposit
Previous sampling includes 39 g/t gold, 741 g/t silver over 15 m and 9.5 g/t gold, 634 g/t silver over 10 m in surface trenching.
MANAGEMENT
Fredy Salazar, P.Geol., M.Sc., President & CEO
From 1988 through 2000, Mr. Salazar worked in the mineral resource sector throughout Ecuador. Mr. Salazar worked with Newmont Overseas Exploration Ltd. as the regional exploration geologist. Mr. Salazar has an extensive and detailed knowledge of Ecuador's geological potential. Mr. Salazar was instrumental in Aurelian Resource's acquisition of its Frutta del Norte property.
Pablo Acosta, CPA, CFO
Mr. Acosta has specialized in providing accounting, external auditing, project and operations auditing, instructors training, company valuations, finance management, cost and budget planning, quality management standards, and environmental matters. Since 2003, Mr. Acosta has worked with Mr. Salazar.
Nick DeMare, CA, Corporate Secretary
Mr. DeMare is currently a director and/or officer of several public companies.
Etienne Walter, Director
Graeme Robinson, Director
Mark Cernovitch, Advisory Board
On March 14, 2012, Salazar Resources Ltd. announced results from an additional five holes (1,217.56 metres) from the continued diamond drill program on its Curipamba project in Ecuador. Salazar drilling expands El Domo mineralization and intercepts 16.52 meters of 4.49% copper and 0.51 g/t gold.
On February 28, 2012, Salazar Resources Ltd. released results from an additional three holes (782.85 metres) from the continuing diamond drill program on its Curipamba Project in Ecuador.
Highlights:
- CURI-163 intersected 15.69 metres grading 1.10 g/t gold, 10.26 g/t silver, 3.99% copper and 1.82 % zinc
- CURI-161 intersected 15.40 metres of 0.21 g/t Au, 6.35 g/t Ag, 0.14% Cu and 1.08% Zn
On February 8, 2012, Salazar Resources Ltd. announced results from an additional five holes (1,372.35 metres) from the continuing diamond drill program on its Curipamba Project in Ecuador. The best intersection of 10.3 metres of 6.02 per cent copper (Cu) was obtained in hole CURI-156. Salazar extends El Demo deposit 100 m east.
On February 2, 2012, Salazar Resources Ltd. announced that it has closed a non-brokered private placement consisting of six million units at a price of 50 cents per unit for gross proceeds of $3-million. Lundin Mining Corp. acquires 15.4% interest in Salazar Resources.
On January 30, 2012, Salazar Resources Ltd. announced that it has arranged a non-brokered private placement of up to six million units at a price of 50 cents per unit to raise up to $3-million. The proceeds of the private placement will be used to finance the Company's exploration properties and for general working capital.
On January 12, 2012, Salazar Resources Ltd. released an updated National Instrument 43-101-compliant mineral resource estimate for El Domo deposit on its Curipamba project in Ecuador.
The indicated mineral resource is 5.53 million tonnes at an average grade of 2.4% copper, 2.5% zinc, 0.3% lead, 2.8 g/t gold and 48.4 g/t silver, containing 292.6 million pounds Cu, 304.8 million pounds Zn, 36.5 million pounds Pb, 498,000 ounces Au and 8.6 million ounces Ag.
On June 16, 2011, Salazar Resources Ltd. announced new assays from the ongoing diamond drill program on its Curipamba project in Ecuador. Hole 115 intersected 12.8 metres of mineralization grading 4.01 g/t gold, 137.85 g/t silver, 3.43% copper and 3.56% zinc, including 7.03 metres grading 7.07 g/t gold, 230.16 g/t silver, 5.17% copper and 5.96% zinc. This intersection expands the area of high grade.
On June 1, 2011 Salazar Resources Ltd. announced new assays from the ongoing diamond drill program on its Curipamba project in Ecuador. Hole 113 intersected 7.95 metres of mineralization grading 10.32 g/t gold, 227.51 g/t silver, 0.75% copper, 2.88% lead and 6.31% zinc, including 2.40 metres grading 33.24 g/t gold, 734.63 g/t silver, 2.31% copper, 9.42% lead and 18.99% zinc. The intersection indicates copper, gold and silver-rich mineralization continuing to the west. Salazar currently has two drills delineating and extending the deposit.
On May 24, 2011, Salazar Resources Ltd. announced new assays from the ongoing diamond drill program on its Curipamba project in Ecuador. Hole 109 intersected 15.6 metres of mineralization grading 1.59 g/t gold, 25.64 g/t silver, 1.07% copper and 2.7% zinc, including 5.89 metres grading 3.35 g/t gold, 56.58 g/t silver, 2.37% copper and 7.0% zinc. The intersection indicates copper- and gold-rich mineralization extending to the west from hole 80.
On May 10, 2011, Salazar Resources Ltd. reported the latest assay results from the ongoing diamond drilling program on its Curipamba volcanogenic massive sulphide project in Ecuador. Hole 106 intersected 36.33 meters of high grade mineralization grading 3.74 g/t gold, 35.85 g/t silver, 4.39 % copper and 1.5 % zinc. The intersection indicates the highly prospective area of the deposit containing copper and gold-rich mineralization extends to the west.
On April 28, 2011, Salazar Resources Ltd. reported the latest assay results from the ongoing diamond drilling program on its Curipamba volcanogenic massive sulphide project in Ecuador. Hole Curi-104 intersected an impressive 21.43 meters of high grade mineralization grading 4.01 g/t gold, 34.42 g/t silver, 3.23% copper and 1.47 % zinc.
Mr. Salazar says, "The impressive intersection in hole 104 confirms the persistence of high grade copper and gold mineralization in this area of the deposit and indicates potential to extend the mineralization to the west".
In conjunction with the diamond drilling program the Company is also conducting regional prospecting, mapping, stream sediment sampling and soil sampling to identify and develop new targets.
On March 29, 2011, Salazar Resources Ltd. announced the latest assay results from recent drilling at the El Domo deposit in the Las Naves Central area of the Curipamba Volcanogenic Massive Sulphide property in Ecuador.
Highlights:
· Curi-95 intersected 2.82 meters at 1.19 g/t gold, 17.60 g/ t silver and 3.18% copper
· Curi-96 intersected 2.91 meters at 2.77 g/t gold, 45.74 g/t silver and 1.42% copper
· Curi-99 intersected 22.70 meters at 6.73 g/t gold, 45.80 g/t silver and 4.69% copper including 9.89 meters at 10.77 g/t gold, 84.10 g/t silver, 9.86% copper and 3.13% zinc