The market cap of Salazar Resources Ltd (OTCQB: SRLZF) reached $45.37M after the stock increased by 13.39% in the last session to $03100. Salazar stock has 146.36M outstanding shares and 89.54M float. Drilling results and mineralization opening contributed to the rise in SRLZF stock.
Which project did the results pertain to?
Salazar Resources creates value in Ecuador by exploring, exploring, and developing. In Ecuador, SRLZF’s team has an unrivaled understanding of geology and helped discover the two newest operating gold and copper mines, among many others.
Salazar’s Los Osos project in El Oro, Ecuador (“Los Osos”), the company announced yesterday that the company’s latest drilling holes OSO-03 and OSO-05 confirmed the widespread presence of mineralization from the surface to the depth.
- SRLZF has identified mineralization in both holes extending to about 400 m in all directions and to great depth.
- SRLZF So far, SRLZF has drilled 3,113 metres in five holes at Los Osos.
- A number of SRLZF studies have already been reported, including OSO-01 (647 m) and OSO-02 (576 m).
- Results have been received for hole OSO-03, which reached 597 m deep.
- In order to test a surface anomaly in the area, hole OSO-04 has been drilled to a depth of 430 meters in the south.
- SRLZF has received samples downhole to a depth of 318 m from this hole, but no significant results have been observed.
- The remaining 112 m are awaiting analysis.
- A total of 864 meters was drilled in hole OSO-05, which is located 200 m northeast of OSO-03.
- Logging and sampling have been done of the first 500 m of OSO-05, and samples have been sent to the lab for analysis.
- The results of the tests are pending.
Salazar’s work plan:
Salazar (SRLZF) has returned to Pad 1 to drill west after the drill had been moved 500 meters. SRLZF’s drilling program at Osos is a live program, as shown in the following plan. Results may affect whether the team drills holes 7 and 8.