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Salazar Resources Ltd. reports on copper-gold exploration and mine-development interests in Ecuador. Recurring updates cover its wholly owned Monja and Santiago projects in Loja Province, including mapping, sampling, geophysics, historical drilling reviews, porphyry targets, and epithermal mineralization indicators.
The company also issues updates on the El Domo joint venture, where Silvercorp Metals holds a 75% interest and operates the project while Salazar holds a 25% carried interest. Other company developments include Ecuador mining regulation, concession costs, annual meeting results, director elections, stock option plan approvals, and other governance matters.
Salazar Resources (OTCQB: SRLZF) reported rock chip samples grading up to >100 g/t gold and >1,000 g/t silver from the Yumi vein system at its 100%-owned Tarqui concession in Ecuador. Historical BHP drilling outlined a 1.8 km × 1.0 km copper-molybdenum porphyry with intercepts up to 0.33% CuEq over 186 m. Nearby Quimi hosts a 1.8 km × 0.8 km copper soil anomaly up to 1,401 ppm Cu. Salazar closed acquisition of the project from Silvercorp Metals on March 18, 2026 and is planning further mapping, sampling, and drill targeting across Tarqui, Yumi, and Quimi.
Salazar Resources (OTCQB: SRLZF) has consolidated 100% ownership of the Santiago copper-gold project in Loja Province, Ecuador. A coincident ~3 km × 2 km geochemical and geophysical anomaly and preserved alteration point to an untested porphyry core at depth, with historical shallow drilling and recent surface sampling guiding follow-up.
Company plans include full data review and a targeted exploration program to test the deeper porphyry potential and advance drill targeting.
Salazar Resources (OTCQB: SRLZF) has designated the 100%-owned Monja Project in Loja Province, Ecuador (9,088 ha), as its exploration priority after surface mapping defined a 2 km x 1 km porphyry core with porphyry-style mineralization.
Rock chips include a high result of 4.77% Cu and 1.12 g/t Au. The company plans mapping, sampling and ground geophysics to define drill targets; results are preliminary and require follow-up.
Salazar Resources (OTCQB: SRLZF) closed an acquisition of Ecuador exploration assets from Silvercorp, consolidating ownership of the Santiago and Pijilí projects to 100% and adding Tarqui-Quimi concessions, subject to a 1.5% NSR royalty. Salazar retains a 25% carried interest in El Domo and plans drilling campaigns in 2026.
Final guarantee documentation for the royalty remains pending execution; projects will advance toward drill readiness subject to permitting and financing.
Salazar Resources (OTCQB: SRLZF) and joint‑venture partner Silvercorp updated the El Domo construction budget to $283.6M (previously $240.5M) and set a revised production date of July 1, 2027 (six‑month delay). Key changes include higher VAT (12% to 15%), plant equipment increases, and reduced contingency to 8%.
Progress in 2025 included $44.5M spent, 8.1 km internal roads, 23.1 km external road upgrades, archaeological clearance, major equipment orders with a $7.2M down payment, and a pending mining contract with CRCC19.
Salazar Resources (OTCQX: SRLZF) held its annual general meeting on September 12th, 2025, where shareholders elected five directors: Fredy Salazar, Pablo Acosta, Nick DeMare, Merlin Marr-Johnson, and Jennifer Wu.
Shareholders approved all resolutions, including the company's stock option plan that allows granting options up to 10% of issued and outstanding common shares. Post-meeting, key appointments include Fredy Salazar as President and CEO, Pablo Acosta as CFO, Freddy David Salazar as Corporate Secretary, while Nick DeMare, Merlin Marr-Johnson, and Jennifer Wu were appointed to the audit committee.
Salazar Resources (OTCQX: SRLZF) has signed a definitive agreement with Silvercorp Metals to acquire four mineral exploration properties in Ecuador. The transaction includes acquiring: 80% interest in Santiago Project (1.5% NSR royalty), 80% interest in Pijilí Project (1.5% NSR royalty), 100% interest in Tarqui Project (1.5% NSR royalty), and 100% interest in Quimi Project (1.5% NSR royalty).
The company already owns 20% of Santiago and Pijili Projects, and this transaction will give them full ownership. Additionally, Salazar plans to farm-out Tarqui and Quimi projects while retaining at least 25% interest, with a non-refundable payment of US$200,000 already received from an Ecuadorian company for exclusivity.
Salazar Resources (SRLZF) provides an update on the El Domo mine construction project, a joint venture with Silvercorp Metals (75% interest) where Salazar holds a 25% carried interest. The project targets production start by end of 2026 with an estimated cost of $240.4 million, slightly lower than the 2021 feasibility study estimate of $247.6 million.
The construction plan includes five key bid packages covering site preparation, open pit mining, processing plant construction, power line installation, and diesel generators. Major milestones include: stripping commencement in August 2025, processing plant construction starting September 2025, and commissioning in December 2026.
The project's direct costs have been reduced by $32.6 million to $159.4 million through unit cost contracting and detailed engineering. Once commercial production begins, Silvercorp will receive 95% of dividends until investment recovery, after which profits will be shared 75%/25% with Salazar.
Silvercorp Metals (TSX/NYSE: SVM) has reported significant progress on its El Domo Project development, targeting production start in the second half of 2026. Following the acquisition of Adventus Mining in July 2024, the company has streamlined operations, maintained community engagement, and advanced detailed engineering work.
Key developments include optimizing the tailing storage facilities design, selecting a new process plant site, improving open pit mine design, and commencing metallurgical test work. The company has also executed a powerline contract and divided the construction into three bid packages.
Notably, Silvercorp has awarded Bid Package 1 to CRCC 14 Bureau Group CO., , an experienced contractor with over ten years of operations in Ecuador. This package includes construction of temporary camp, tailing storage facilities, and other critical infrastructure. The company plans to award Bid Packages 2 and 3 in Q1 2025.