Salazar Resources Limited Reports Trench and Drill Results from Los Santos
Salazar Resources Limited announced sampling results and an update on the Los Santos drill program. Phase 1 drilling is complete at Los Santos, El Oro Province, with thirteen holes completed for a total of 2,575 meters ("m"). Results from four holes have been received, with assays pending for nine holes. Results from channel sampling and trenches are also reported. Final assays from all holes are anticipated in the coming weeks. Exploration at Los Santos has comprised mapping, sampling, and drilling. Many of the targets have been drill-tested. Drilling is completed, and consisted of 2,575 m in thirteen separate holes. Results from four holes have been received, with assays pending for nine holes. The drill rigs have been demobilized from Los Santos. Next steps for the project will be established once the remaining assays are included into a final report. New Drill Results, Los Santos: Results have been returned from the first four holes completed in Phase 1 Drilling at Los Santos. A further nine holes have been drilled, comprising seven holes at the Brecha Sur target and two holes at the Fortuna target. At Esperanza, two drill holes were collared in weakly sheared, partially metamorphized tonalites, oriented almost due west, with a dip of 60o. The holes targeted depth extensions of mineralization identified through surface sampling. Both holes intersected sheared zones of veining and veinlets, with visible gold reported at a depth of 132 m in SAN-001. Although the zone of shearing and sulphide mineralization in SAN-001 was 10 m in thickness, the intersection carrying gold values was 1.2 m @ 1.9 g/t Au from a depth of 142.9 m. The core was assayed with conventional fire assay atomic absorption spectroscopy and metallic screen fire assay methods. The downhole intersection is lower grade and narrower than the channel sampling reported previously from surface (21.5 m @ 3.0 g/t Au). The grade differences are interpreted to reflect enrichment of the geology at the surface relative to the underlying geology. The narrower widths are interpreted to reflect the fact that the channel sample was taken obliquely to the structure whereas the drillholes were orthogonal to structure. At Leon and Rayo two holes were drilled across the main targets established by surface mapping and sampling. At Leon previously reported mineralization at surface included 7.5 m @ 0.27 g/t Au and 0.25 % Cu across one of a series of north-south sheeted vein sets, varying in intensity across approximately 180 m of east-west oriented outcrop. Additional results from the eastern section include 2 m @ 0.2 g/t Au and 0.25% Cu, and 2 m @ 2.2 g/t Au and 0.43% Cu. At Rayo previously reported sampling in an adit across a similar orientation of vein sets returned a best intersection of 8.0 m @ 8.0 g/t Au in an adit. The drilling in both areas intersected similar geology downhole as that seen at surface, namely mineralized structures and vein sets with oxidation in fractures and quartz-pyrite mineralization, minor chalcopyrite and trace arsenopyrite. At Leon the results from SAN-003 indicate broad zones of gold mineralization, with several intervals between 247 m and 325 m downhole returning 0.2 g/t Au. The results from the hole at Rayo, 52.4 m @ 0.2 g/t Au, are of a similar tenor and thickness to the nearby geology at Leon. The high grades previously reported in the channel at Rayo are interpreted to reflect surface enrichment due to oxidation processes. At Brecha Sur, mapping and trenching continues to reveal high grade mineralization at surface. The area appears to represent a conjugate set of structures formed in a compressive environment. Locally at Brecha Sur the host instrusive rock exhibits brittle deformation with en echelon tension cracks visible at the metric to decimetric scale. The tension cracks often contain elevated levels of sulfide mineralization. These zones are associated with intense argillic alteration (kaolinite-alunite + illite-smectite-sericite) and a mineral association of pyrite + enargite (Cu) + tenantite (As+Ag) + tetrahedrite (Sb+Ag) + Ag sulfosalts (pyrargyrite). This suite of alteration and sulfides suggests these are high sulfidation (HS) lenses of mineralization. Trenching and channel sampling was carried out over a number of zones. The sampling at Brecha Sur was carried out by chip sampling in friable rock, and using a rock saw in competent rock. Sample lengths were nominally 2 m, adjusted to lithologies. Drilling to test the depth extent of these bodies has intersected similar alteration and mineral suites and hydrothermal breccias within core. The intensity of mineralization does, however, appear to be much less intense than that seen at surface. The altered and veined zones, and the hydrothermal breccias are thinner at depth than those intersected at surface. Results for drill holes SAN-005, SAN-006, SAN-007, SAN-007A, SAN-008, SAN-008A, and SAN-008B are pending. At Fortuna, soil sampling identified a gold and copper anomaly centred on a tourmaline breccia. The breccia outcrop shows alteration and disseminated sulfide mineralization. It is hosted within a medium- coarse grained diorite. Two drill holes, SAN-009 and SAN-010, were collared within the breccia, and intersected strongly sodic-calcic alteration, increasing with depth, characterized by actinolite, albite, and epidote. The alteration is associated with sulfide mineralization of pyrite, chalcopyrite, magnetite, and molybdenite. Diamond drill hole SAN-009, was completed at a depth of 224.1 m. From surface it intersected hydrothermal breccias until a depth of 135.50 m. Diamond drill hole SAN-010, was drilled subvertically away from SAN-009 and it was completed at a depth of 275.0 m. From surface SAN-010 intersected hydrothermal breccias until a depth of 178.0 m. Assays for both holes are pending.
