Salazar Resources Ltd has announced that it has acquired the mineral title to the 1175 ha. Correa-Jiron Concession 601062 (El Potro) in the mineral-rich Loja porphyry district, Ecuador, for an initial payment of US$50 000. Following due diligence, the company believes that El Potro is a new porphyry discovery with significant exploration potential.
- Multiple indications that El Potro contains a well-preserved porphyry system with a gold-bearing lithocap.
- Gold, and copper and molybdenum-bearing minerals identified during due diligence.
- Lithocap channel samples include 3 m at 26.6 g/t gold (Au), and 3 m at 9 g/t Au.
- Porphyry stockwork samples include 4 m at 0.23 % copper (Cu).
- Accelerated exploration programme currently underway.
Fredy E. Salazar, President and CEO of Salazar Resources, said: “I met the previous owners of the concession when they brought high-grade material from El Potro to the processing plant I own. We recognised that El Potro feed came from an area with real exploration potential. Our subsequent mapping and sampling identified numerous indications that El Potro contains a well-preserved porphyry system complete with a gold-bearing lithocap. It is a new and tremendously exciting early-stage exploration target.
“The licence area is an established mining concession, with a history of small-scale artisanal production, which makes permitting for exploration activity much easier. El Potro is a completely unexplored, fresh discovery.
“Once again, our ability to add new properties to the Salazar Resources portfolio underlines our credentials as a partner of choice in Ecuador. The fact that the vendors chose to work with Salazar Resources demonstrates that we are being trusted to make discoveries and to manage the project in a way which has a positive impact on local communities.”
Read the article online at: https://www.globalminingreview.com/exploration-development/21092021/salazar-resources-acquires-mineral-title-to-el-potro-copper-gold-project/