VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/08/12 -- Salazar Resources Ltd. (TSX VENTURE: SRL)(FRANKFURT: CCG) is pleased to report results from an additional five holes (1,372.35 meters) from the ongoing diamond drill program on its 100% owned (30,327 hectares) Curipamba volcanogenic massive sulphide (VMS) project in Ecuador. These holes represent new exploratory drilling and are not included in the new 5.53Mt indicated and 1.46Mt inferred El Domo resource estimate which was released on January 12, 2012. All 5 holes were drilled to test for mineralization under the andesite sill, east of the El Domo resource (Figure 1). Significant intersections in holes CURI-156 and CURI-160 clearly show that the mineralization extends east of the limits of the El Domo resource blocks into undrilled areas.
Holes CURI-156, 157 and 158 were drilled on a north-south line to test the projection of the mineralized horizon east of and between the resource blocks of the El Domo deposit (Figure 1). The best intersection of 10.3M of 6.02% Cu was obtained in hole CURI-156, however, all three holes intersected mineralization which indicates the El Domo mineralization persists eastward beneath the andesite sill and between two areas of inferred resources (Figure 1). The intersection in hole CURI-156 is very significant as it demonstrates the southern block of inferred resources (Figure 1) can be expanded and therefore warrants further drilling to test this area. Additionally, hole CURI-160, drilled east of the high grade intersection in hole CURI-148 (As Released on January 12, 2012), intersected a wide interval of high grade copper-gold-silver mineralization east of the northern block of inferred resources. The high grade intersection demonstrates the block of inferred mineralization can be expanded (Figure 1) and again warrants further drilling in this area.
Fredy Salazar, President and CEO, commented; "We are very encouraged by these latest drill holes, specifically holes CURI-156 and CURI-160 which clearly demonstrate significant mineralization east of the El Domo deposit. These drill holes compliment CURI-155 (previously released) which was located 600 metres east of the deposit and further support the potential to significantly grow the resource at El Domo."
Table 1: Drill Hole Intersections
--------------------------------------------------------------------------- Hole From To Width(i) Gold Silver Copper Lead Zinc --------------------------------------------------------------------------- # (m) (m) (m) (g/t) (g/t) (%) (%) (%) --------------------------------------------------------------------------- CURI-156 180.56 184.47 3.91 1.56 133.53 5.91 0.05 0.63 --------------------------------------------------------------------------- CURI-157 187.7 188.45 0.75 5.01 126.4 1.2 0.86 6.9 --------------------------------------------------------------------------- CURI-158 206.75 207.1 0.35 1.2 29.4 0.73 0.26 2.16 --------------------------------------------------------------------------- CURI-159 No significant mineralization encountered --------------------------------------------------------------------------- CURI-160 161.9 172.21 10.31 0.862 17.32 6.02 0.04 0.42 --------------------------------------------------------------------------- (i) Widths represent down hole core lengths.
CURI-156 intersected the VMS mineralization approximately 110 metres east of Curi-68 (14.37m @ 5.94 g/t Au, 69.65 g/t Ag, 2.74% Cu, 1.01% Pb and 4.0% Zn(1)) under the andesite sill. It intersected 3.91 meters of copper-rich massive and semi massive mineralization..
CURI-157 intersected the mineralization approximately 120 meters east of CURI-69 (5.34m @ 31.87 g/t Au, 321 g/t Ag, 1.01% Cu, 5.02% Pb and 10.03% Zn(1)). It intersected a 0.75 meter interval of zinc and copper-rich massive sulphide mineralization.
CURI-158 tested the mineralization approximately 50 meters southeast of CURI-143 (4.28m @ 3.99 g/t Au, 89.80 g/t Ag, 1.34% Cu, 0.46% Pb and 7.89% Zn(1)). It intersected a 1 meter fault zone with chalcopyrite-pyrite clasts.
CURI-159 tested the projection of the mineralized horizon approximately 400 meters east of CURI-42 (8.58 m @ 1.78 g/t Au, 47.90 g/t Ag, 0.90% Cu and 7.53% Zn(1)). No significant mineralization was intercepted.
(1) Updated 43-101 resource report by Roscoe Postle Associates Inc.; October 2011.
Table 2: Drill Hole Specifications
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Dip
Hole-ID Easting Northing Elev Az degrees degrees EOH
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CURI-156 695187 9855050 957.63 90 -65 255.4
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CURI-157 695200 9855102 961.53 90 -70 266.9
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CURI-158 695183 9855200 951.90 90 -65 299.85
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CURI-159 695700 9855400 1052.54 90 -90 280.2
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CURI-160 695451 9855350 1010.35 270 -90 270
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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.
To view Figure 1, click on the following link: http://media3.marketwire.com/docs/s27m2.pdf
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 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", and 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.
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
info@salazarresources.com
www.salazarresources.com
