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).
