Salazar expands deposit and market cap

Salazar Resources (SRL-V) has expanded its El Domo deposit in Ecuador with the latest round of drilling and the market likes what it sees.

Highlight intercepts came out of three separate holes and included: 27.61 metres grading 2.12 grams gold, 24.65 grams silver, 4.97% copper and 1.11% zinc; 4.05 metres grading 2.13 grams gold and 43.03 g/t silver and 1.95 meters grading 2.02 grams gold, 98.08 grams silver, 2.43 % copper and 7.81 % zinc within 3.75 metres of mineralization..

In Toronto on Feb. 6 the company’s shares shot up 20% or 20¢ to finish the day at $1.20 on nearly 400,000 shares traded.

The results came out of the last five drill holes at the El Domo deposit which the company classifies as a volcanic hosted massive sulphide.

Salazar says the results extend the deposit 50 metres to the north and 50 metres to the east in the southern portion of the deposit.

With the expansion the deposit now has a strike length of 800 metres, averaging 200 metres in width and 10 metres in thickness. The deposit remains open in three directions.

Salazar’s president and chief executive, Fredy Salazar, said that the company is now waiting for a second drill to arrive to help further define the district. The drill is expected in the next few weeks.

El Domo, which is part of the Curipamba project, currently has an indicated resource measuring 623,000 tonnes grading 3.7% copper, 0.41% lead, 4.16% zinc, 3 grams gold and 98 grams silver. It has another 2.5 million tonnes in the inferred category averaging 3.24% copper, 0.37% lead, 4.28% zinc, 4.3 grams gold and 79.5 grams silver.