- Salazar Resources (SRL) has started a 3,000-metre diamond drill program at the company’s Rumiñahui Project
- The Rumiñahui concessions cover 2,910 hectares, located in northern Ecuador
- The San Francisco anomaly main target area is of interest because of the potential for additional gold-copper-(silver) mineralization
- The main target is located in an exploration area where very little historical mineral exploration had been done
- Salazar Resources is down 1.32 per cent, trading at $0.38 at 12:45 pm ET
Salazar Resources (SRL) has started a 3,000-metre diamond drill program at the company’s Rumiñahui Project.
The Rumiñahui concessions cover 2,910 hectares, located in northern Ecuador.
The project also exhibits several historic adits and workings at the company’s primary target, the San Francisco anomaly.
Mapping and sampling have indicated the presence of gold-bearing sulphide mineralization, porphyry-style alteration, multiple shear and breccia zones, and veining.
“We are excited to have started our drill program at Rumiñahui. The style of the gold and copper mineralization I have seen at surface here indicates that there could be a major porphyry copper system at depth. This drill program is a seminal event for the Company and our team has worked closely with the local community and forged strong relationships to enable the work to advance,” said Salazar Resources President and CEO Fredy E. Salazar.
Sampling done by the Vancouver-based company in 2006 indicated 2.76 grams per tonne of gold over 55 metres and the San Francisco Prospect was previously mined by informal miners.
Salazar Resources has a wholly-owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm out non-core assets.
Salazar Resources is down 1.32 per cent, trading at $0.38 at 12:45 pm ET.