Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, July 16, 2009
Wed, July 15, 2009 Salazar Resources Limited: Salazar Makes Final Payment on Curipamba Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 15, 2009) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) reports that a final option payment of $500,000 USD was recently made finalizing the acquisition of the Curipamba Property. The Curipamba Property is now 100% owned by Salazar and is royalty free. This payment secures 30,327 hectares which contain the recently discovered Curipamba VMS district, including the El Domo deposit and other multiple high priority targets such as Sesmo Sur, Las Naves Central and Piedras Blancas.
The Company is well prepared for the next phase of exploration and development at the Curipamba Project. Locally, the project is very well supported by the community; water permits for the next phase of exploration and development have been received; a comprehensive exploration and development program has been designed by the Company and is logistically ready to be implemented; the final EIA has been submitted to the government; all that the Company now awaits is final approval from the government.
Upon final approval, Salazar looks forward to recommencing its exploration activities and is still anticipating this to be August, 2009. A drill program is planned at El Domo which has an inferred resource, from only 13 drill holes, of approximately four million tonnes grading 3.48 grams per tonne gold, 76.33 grams per tonne silver, 2.51 per cent copper, 4.55 per cent zinc and 0.47 per cent lead (See Press Release February 25, 2009). The drill program will advance and expand the El Domo deposit which remains open in three directions. The Company also plans to test several other high-priority targets that reflect similar geophysical signatures to El Domo in the immediate area with the anticipation of discovering other VMS deposits. With success, a new VMS district will have been discovered by Salazar, and with the final payment now made and the land position secured, Salazar believes it has encompassed the entire VMS district potential as defined by the Curipamba Project land position.
John Buckle, P.Geo., P.Geoph., the qualified person for the company, has reviewed this news release for its accuracy.
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar, President & CEO
Salazar Resources Limited
Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL) 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 reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
