VANCOUVER, Jan. 30, 2018 /CNW/ - Salazar Resources Limited (TSX.V: SRL; FRANKFURT: CCG.F) ("Salazar" or the "Company" is pleased to report its acquisition of the Macara project in the Occidental Cordillera of the Andean province of Loja in southwestern Ecuador (see Figure 1). The Macara project currently comprises two concessions: (1) Macara Mina (288 hectares) leased from a third-party, and (2) Bonanza mining concession (1,519 hectares) granted by the Ecuadorian government.
Fredy Salazar, President and CEO, commented: "Now that our Curipamba-El Domo project is being funded through feasibility stage by a joint venture with Adventus Zinc, Salazar will utilize its knowledge and experience in exploration in Ecuador to acquire new regional opportunities that we believe can add value for our shareholders in 2018."
The Macara project lies within Célica volcano-sedimentary Formation (known as the Lancones Formation in neighboring Peru), which is intruded by the Cretaceous-age Tangula granodiorite batholith. This project is highly prospective for epithermal gold-silver, gold-copper porphyry and volcanogenic massive sulfide (VMS) deposits. The Macara project is located 100km to the north of the Tambogrande VMS deposit in the Cretaceous Lancones basin of northwestern Perú, which hosts some of the largest Cu-Zn-Au-Ag-bearing massive sulfide deposits in the world (Winter, L.S. (2008); Atlantic Geology, Vol. 44. No. 1).
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
President & CEO
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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 information 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. 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 prove 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
SOURCE Salazar Resources Limited
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