Salazar Intersects 22.42 Metres (True) Averaging 7.4 G/T Gold, 82.1 G/T Silver, 4.43% Copper and 4.41% Zinc in the El Domo Deposit and Succesfully Ends the Phase V Diamond Drilling Program at its Curipamba Project
Salazar Intersects 22.42 Metres (True) Averaging 7.4 G/T Gold, 82.1 G/T Silver,
4.43% Copper and 4.41% Zinc in the El Domo Deposit and Succesfully Ends the Phase V
Diamond Drilling Program at its Curipamba Project
Vancouver, British Columbia, September 8 , 2017- Salazar Resources Limited (TSX.V: SRL;
FRANKFURT: CCG.F) (“Salazar” or the “Company”) is pleased to report results from the last eight holes
(2,430.30 metres) of the phase V diamond drill program that was completed on the Company’s 100- per-cent
owned (21,500 ha) Curipamba volcanogenic massive sulphide ( “VMS”) project in Ecuador. Five holes
represent new exploratory and development drilling around the El Domo resource and were not included in
the latest El Domo resource estimate which was released on January 16, 2015. Three holes were drilled in the
Barranco Colorado area, which is within the Curipamba project, to test regional exploration targets.
HIGHLIGHTS:
• Hole CURI-236
• 2.30 metres (true) averaging 1.42 g/t gold, 51.7 g/t silver, 2.45% copper and 5.59 % zinc
in massive and semi-massive chalcopyrite and pyrite.
• Hole CURI-237
• 36.79 metres averaging 5.0 g/t gold, 53.4 g/t silver, 2.93% copper and 2.9 % zinc; which
includes two intervals:
11.10 metres averaging 1.5 g/t gold, 10.77g/t silver, 0.73% copper and 0.70%
zinc in Grainstone (a marker unit in the immediate hanging wall of the massive
sulphides) with clasts of semi-massive sulphides
22.42 metres averaging 7.4 g/t gold, 82.1 g/t s ilver, 4.43% copper and 4.41%
zinc in massive and semi-massive sphalerite, chalcopyrite and pyrite.
• Successful finalization of the phase V drilling program
PROGRAM RESULTS:
The latest eight holes (2,430.30 metres) (Table 1) were drilled as part of the planned 40-hole (10,000 metres)
drill program that was completed with the purpose of expanding the El Domo VMS deposit and exploring its
margins, as well as testing geophysical anomalies and surface showings around the Curipamba Project
(Figure 1). The drilling activities of the program ended on August 7th, 2017.
A total of 36 holes (10,472.62 metres) were drilled. Thirty- three (33) holes were drilled in and around the El
Domo deposit and three (3) holes were drilled in the Barranco Colorado area. In addi tion to the significant
intersections being reported here, five ( 5) other holes intersected significant mineralization : CURI-213,
CURI-218, CURI-224, CURI-231and CURI-234 ( News Releases of March, May and August 2017).
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Hole CURI -236 intersected 2.30 metres averaging 1.42 g/t gold, 51.73 g/t silver, 2.45% copper and
5.59% zinc in massive and semi -massive of chalcopyrite and pyrite. This intersection is located in the
northeastern sector of the El Domo deposit, approximately 50 metres south from the C URI-231 which cut
3.09 metres (3.08 m true) averaging 0.60 g/t gold, 9.40 g/t silver, 6.43% copper & 0.18% zinc ( news
release of August 14, 2017 ). This new intersection extends the previously interpreted mineralization trend
identified by CURI -224, CURI-198 and CURI -231 an additional 50 metres to the south, making this new
trend a total length of approximately 200m. This trend will most likely be connected to the main resource
body given that the CURI-236 intersection is only 60 metres northeast from the CURI-166, which previously
marked the edge of the latest El Domo resource estimate.
Hole CURI-237 was a deep exploratory hole that was collared approximately 30 meters north east from
the CURI-106 which was drilled in April of 2010 and intersected 36.33 metres 3.74 g/t gold, 35.85 g/t silver,
4.39 % copper and 1.5% zinc in the west -central sector of the El Domo deposit. CURI -237 was drilled
vertically down to 537.80 metres to test the potential for additional underlying VMS depositional lenses and
the pot ential for strong feeder zones related to the existing El Domo VMS body. CURI -237 intersected
36.79 metres averaging 5.0 g/t gold, 53.4 g/t silver, 2.93% copper and 2.9 % zinc; which includes two
intervals:
• 11.10 metres averaging 1.5 g/t gold, 10.77g/t silver, 0.73% copper and 0.70% zinc in grainstone
with clasts of semi -massive sulphides. The Grainstone is a marker unit in the immediate hanging
wall of the VMS mineralization.
• 22.42 metres averaging 7.4 g/t gold, 82.1 g/t silver, 4.43% copper and 4.41% zinc in massive
and semi-massive sulphide of sphalerite, chalcopyrite and pyrite.
This intersection represents an in -fill addition to the known El Domo resource. Below the El Domo deposit
drilling intersected the usual altered and mineralized dacitic unit, followed by the rhyolitic flow which is the
deepest formation reached in several previous holes. Below the rhyolite another large dacitic unit with
sporadic sedimentary lenses was intersected with yet another rhyolitic flow at the base. The hole intersected
weak sporadic sulphide mineralization with sphalerite, chalcopyrite and pyrite all the way down to the end of
the hole in the form of veinlets and fracture fillings. In addition, this hole showed that the basement marine
volcanic rocks, Piñon Formation, which was believed to be at shallower depths was not encountered
suggesting that the mineralization and alteration system extends as deep as 420 metres below the El Domo
deposit.
Fredy Salazar, President and CEO, commented: “The culmination of our Phase V drilling program marks an
important landmark in our company and the development of our Curipamba project. As a result, the El
Domo resource has been better defined and important mineralization exten sions have been intersected that
will add significant value to the previously defined reserves. Also, the Barranco Colorado holes have shown
us the additional exploration potential on the Curipamba project outside of El Domo. Salazar is very
satisfied with the results and looks forward to the future possibilities that this drilling campaign has opened
for us.”
OTHER RESULTS:
CURI-235 collared on the same platform as CURI -234 (6.87 metres (6.45 m true) averaging 1.47 g/t gold,
10.9 g/t silver, 7.42% copper, 1.01% zinc (news release of August 14, 2017) was drilled southwesterly to test
the possible extension of CURI -234 mineralization towards the east. It intersected a massive gypsum
interval and the underlying dacitic unit. Gypsum frequently occurs as part of the outer shell stockwork
mineralization.
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CURI-238 and CURI-239 were drilled to explore the eastern limits of the El Domo mineralization. CURI -
238 was drilled vertically approximately 150 metres from the El Domo resource. CURI -239 was drilled
westerly around 200 metres from the El Domo resource. Both holes intersected weak mineralization in the
underlying dacitic unit.
Holes BC-1, BC-2 and BC-3 were drilled on the southeast corner of the Barranco Colorado area, Curipamba
Project, located approximat ely 10 km west from El Domo deposit (Figure 2). Previous detailed surface
geologic mapping identified l arge phyllic altered andesite and hydrothermal breccias boulders that averaged
0.5- 8.3 g/t Au, 0.05 – 0.75% Cu, 0.05 – 0.69 % Zn. Soil sampling identifi ed anomalous values of gold,
copper and zinc: up to 0.3 ppm Au, 600 ppm Cu, and 1000 ppm Zn. Also, geophysical anomalies were
recognized in the induced polarization survey completed in April 2017, which defined the three initial
targets. These holes encountered moderately phyllic alterated volcanic flows with dioritic and microdioritic
intrusions and an acid unit at the base. Holes BC -1 and BC 2 intersected sporadic decimetric and metric
channels of silicified crackle breccias with pyrite and traces of chalcopyrite and sphalerite. BC -2 had the
better accumulation of this mineralization with an interval of up to 25 metres in thickness which includes a
few sporadic sphalerite and chalcopyrite filled veins of up to 2cm in thickness. In addition, the lower part of
the BC-1 intersected about 30 meters of a Dacite/Rhyolite unit with a moderate anhydrite stockwork and up
to 7% disseminated pyrite which exhibits similarities to the underlying dacitic unit of the El Domo deposit.
In conclusion, the surface findings, the remaining geophysical anomalies and these recent drill holes results
show the potential for massive sulphides in this area. More exploration is warranted in Barranco Colorado.
TABLE 1
HOLE ID EAST NORTH ELEV (M) AZIMUTH DIP DEPTH (M) ACCUMULATED
DEPTH
CURI-235 695351.79 9855236.17 1052.99 145 -66 338.60 338.60
CURI-236 695437.07 9855437.60 998.38 270 -90 215.65 554.25
CURI-237 695026.00 9855275.00 906.20 90 -90 537.80 1092.05
CURI-238 695600.00 9855400.00 1075.00 270 -85 330.60 1422.65
CURI-239 695762.00 9855310.00 1115.00 270 -80 300.00 1722.65
BC-01 684950.00 9851921.00 187.00 270 -75 417.10 2139.75
BC-02 684780.00 9851902.00 151.00 315 -75 167.75 2307.50
BC-03 684725.00 9852050.00 143.00 270 -75 122.80 2430.30
*PSAD_1956_UTM_Zone_17S
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Figure 1
El Domo Deposit – Pierce Point Map
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Figure 2
Barranco Colorado Samples and Drill Hole Map
TABLE 2
SIGNIFICANT INTERSECTIONS
HOLE ID FROM (M) TO (M) WIDTH (M) AU (G/T) AG (G/T) CU (%) PB (%) ZN (%)
CURI-235 No significant mineralization encountered in this hole.
CURI-236 153.16 155.46 2.3 1.42 51.73 2.45 0.11 5.59
CURI-237 56.5 93.29 36.79 5.00 53.40 2.93 0.21 2.90
including 56.5 67.6 11.1 1.49 10.77 0.73 0.17 0.70
including 70.87 93.29 22.42 7.43 82.08 4.43 0.27 4.41
CURI-238 No significant mineralization encountered in this hole.
CURI-239 No significant mineralization encountered in this hole.
BC-1 No significant mineralization encountered in this hole.
BC-2 53.76 56.72 2.96 1.41 1.55 0.11 0.01 0.85
BC-3 No significant mineralization encountered in this hole.
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Widths presented in Table 2 are downhole core lengths. Where possible, true width estimates are noted in the
text.
A rigorous chain- of-custody and quality assurance/quality control program that included the insertion of
certified standard control samples and blanks, and re-analysis of samples with high levels (overlimit) of gold,
copper and zinc, was applied to the NQ -diameter, rock-sawn half-core samples. All samples were analyzed
by Inspectorate Services Perú S.A.C. (Bureau Veritas), a certified ISO 17025 and ISO 9001:2000 laboratory.
As part of the program’s sample quality assurance, twin samples were taken on all holes as described below.
The samples were part of a Brecciated Dacite and gave the following results (Table 3):
TABLE 3
HOLE SAMPLE FROM(M) TO(M) LENGTH(M) AU(PPM) AG(PPM) CU(PPM) PB(PPM) ZN(PPM)
CURI-235 170842 288.00 289.40 1.40 0.085 0.2 3 7 6
170843 288.00 289.40 1.40 0.089 0.3 4 8 8
CURI-236 170961 155.46 157.30 1.84 0.037 0.3 200 <5 62
170962 155.46 157.30 1.84 0.023 0.2 91 <5 34
CURI-238 170978 288.85 290.80 1.95 0.064 1.2 173 36 1073
170979 288.85 290.80 1.95 0.075 1 53 37 381
CURI-239 170988 280.86 281.80 0.94 0.067 7.8 18 236 633
170989 280.86 281.80 0.94 0.056 11.6 16 216 586
BC-01 170826 401.80 403.33 1.53 <0.005 <0.2 23 <5 <5
170827 401.80 403.33 1.53 <0.005 <0.2 23 <5 <5
BC-02 170945 154.07 156.00 1.93 0.054 0.7 75 39 362
170946 154.07 156.00 1.93 0.051 0.8 81 37 343
The scientific and technical information contained in this news release has been reviewed and approved by
Kieran Downes, Ph.D., P.Geo. a Qualified Person as defined by National Instrument 43-101.
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 (TSXV: 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, including Aurelian's Fruta Del Norte discovery, IAMGold's
Quimsacocha Deposit, Mozo Deposit, Ex Newmont's C angrejos Project and International Minerals Rio
Blanco and Gaby Deposit. Being an Ecuadorian based company gives the Company a strategic advantage
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enabling the Company to complete exploration at a rapid pace. With an excellent property portfolio (4
projects – 36,269 hectares), good geopolitical positioning and a number of strategic corporate and financial
partnerships, Salazar has positioned itself to be a strategic player in Ecuador.
For further information, please contact:
Salazar Resources Ltd.
www.salazarresources.com
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.
This press release contains “forward - looking information” within the meaning of applicable Canadian
securities laws. All statements included herein, other than statements of historical fact, are forward -looking
information and such informati on involves various risks and uncertainties. Forward -looking information
herein includes, but is not limited to, statements that address activities, events or developments that the
Company expects or anticipates will or may occur in the future, including such things as the execution of the
Phase V drilling program. Such forward- looking information is based on a number of material factors and
assumptions. Although the Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward -looking information, there may
be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can
be no assurance that such information will pr ove 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. Accordingly, readers should not place undue reliance on forward -
looking information. The Company does not undertake to update any forward- looking information except in
accordance with applicable securities laws.