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Salazar Resources (TSXV:SRL) launches diamond drilling program in Ecuador
  • Salazar Resources (SRL) has begun a 5,000-metre diamond drilling campaign at its Los Osos copper-gold project in southern Ecuador
  • The program has been designed to test mineralised porphyry and associated veins that were previously identified through mapping and sampling work
  • Three of the proposed ten holes will test gold anomalies to the northwest of the property thought to be related to occurrences of veins and breccias
  • Another two will focus on the south, targeting a porphyry with fracture veining and associated sulphides
  • Salazar Resources (SRL) is currently down 9.86 per cent and is trading at C$0.32 per share

Salazar Resources (SRL) has begun a 5,000-metre diamond drilling campaign at its Los Osos copper-gold project in southern Ecuador.

Located within the Cerro Pelado-Cangrejos mineral district, the wholly owned property cover 229 hectares hosts a system of veins rich in gold and silver, along with hydrothermal breccias and mineralised gold-copper porphyries.

The program has been designed to test these mineralised porphyry systems, as well as associated veins and hydrothermal breccias that were previously identified during mapping and sampling work.

Salazar intends to drill a total of ten holes to a depth of approximately 500 metres, three of which will test gold anomalies to the northwest of the property, which are thought to be related to occurrences of veins and breccias.

These veins range from 0.3 to 1.2 metres in width, while the hydrothermal breccias with gold and copper mineralisation have been found to span ten metres in width.

Another two holes will focus on the southern region of the Los Osos Project, targeting porphyry systems with fracture veining and associated sulphides that are coincident with a broad copper anomaly.

The placement of the remaining holes will be subject to the success of the first five.

Fredy Salazar, CEO of Salazar Resources, noted that the Los Osos Project displays mineralisation in a variety of styles and rock types.

"In particular, there are gold-copper showings that are tens of meters wide in veined hydrothermal breccias in the northwest of the license area that look very similar to the nearby Cangrejos style of mineralisation.

"In the southern part of the license area there are quartz stockworks and fracture veining in a metamorphosed porphyry with a broad copper anomaly that will also be drilled," he added.

A rig is currently being mobilised to the property, with drilling expected to begin in October this year and continue to an estimated completion date in early 2021.

Salazar Resources (SRL) is currently down 9.86 per cent to C$0.32 per share at 3:12pm EDT.


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