202616 releases
Salazar Resources Provides El Domo Construction Update, Initiates Drill Program at Tarqui and Engages IR firms
Salazar Resources Ltd. (TSXV: SRL) reports that Silvercorp's El Domo construction was hit by rainfall 489% above the six-year average in its fiscal second quarter, with works suspended during 77 days of rain, and that drilling has started at the Yumi gold-silver veins on its 100%-owned Tarqui project. The company also engaged Minera IR Inc. for investor relations at C$6,000 per month and Market Equities Limited for corporate communications at US$100,000, both subject to TSXV acceptance.
CorporateSalazar Resources to Begin Drilling the Yumi Gold-Silver Veins at Tarqui, with Porphyry Drilling Planned at Monja, Ecuador
A two-phase drill program follows the closing of a $3,500,000 non-brokered private placement: Phase 1 is approximately 1,500 metres in five holes of about 300 metres each at the previously undrilled Yumi gold-silver veins on the 100%-owned Tarqui project, Morona Santiago Province, Ecuador, starting late October 2026. Phase 2 contemplates up to approximately 3,500 metres in four holes at the Monja copper-gold porphyry from Q1 2027, subject to surface access and permits. Over-limit assay of sample 400362 returned 105 g/t Au and 1,038 g/t Ag.
Drill resultsSalazar Resources Closes $3.5 Million Non-Brokered Private Placement
A non-brokered private placement announced September 17, 2026 has closed, with 10,000,000 units issued at $0.35 per unit for gross proceeds of $3,500,000. Each unit comprises one common share and one-half warrant exercisable at $0.60 for two years. Insiders bought 405,000 units, and finder's fees of $104,832.60 cash plus 299,521 finder's warrants exercisable at $0.35 for two years were paid; net proceeds are for working capital and exploration.
FinancingSalazar Resources Announces Non-Brokered Private Placement of Up to $3.5 Million
A non-brokered private placement of up to 10 million units at $0.35 per unit has been arranged to raise up to $3,500,000, following a Price Reservation filed September 10, 2026 with the TSX Venture Exchange. Each unit comprises one common share and one-half warrant, with each whole warrant exercisable at $0.60 for two years from closing. Insiders may participate, finders' fees may be paid, and proceeds will fund working capital and exploration. Securities carry a four-month hold period.
FinancingSalazar Provides Update on the Construction of the Mine at the El Domo Project
Construction at the Curipamba–El Domo polymetallic project in Ecuador remains on track for commissioning in July 2027, with cumulative capital expenditures of US$66.2 million from January 2025 through June 30, 2026, including US$12.3 million in the quarter. Silvercorp received a second installment of US$43.9 million on July 31, 2026 under its US$175.5 million Wheaton Precious Metals stream, bringing total proceeds to about US$87.8 million. Approximately 604,600 cubic metres of earthworks were completed during the quarter; open-pit pre-stripping has commenced, with 4.1 million cubic metres planned. Salazar holds a 25% carried interest.
CorporateSalazar Reports a High-Grade Tungsten-Silver Intersection at the Pijilí Project, Ecuador: 2.00 Metres Grading 1.80% W (2.27% Wo3) and 740 G/T Ag
A re-interpretation of historical assay data from drill hole MERC-011 at the Mercy concession of the 100%-owned Pijilí Project in central Ecuador identified a previously unreported 2.00 metre sub-interval (18.30–20.30 m) grading 1.80% W (2.27% WO3), 740 g/t Ag, 0.63% Cu, 0.07 g/t Au and 0.02% Mo. It sits within an 18.55 m interval of 0.99% Cu, 189.8 g/t Ag and 0.23% W, part of a 151.81 m intercept. Surface sampling shows a 600 m x 450 m tungsten anomaly; no resource has been estimated. Next steps include detailed mapping and defining drill targets.
Drill resultsSalazar Resources Files NI 43-101 Technical Report for the Curipamba El Domo Project
An independent NI 43-101 Technical Report for the Curipamba–El Domo polymetallic project in the Bolívar and Los Ríos provinces of Ecuador has been filed, prepared by SRK Consulting (China) Ltd. for operator Silvercorp Metals Inc., with an effective date of December 31, 2025 and issued May 31, 2026. It supports the updated Mineral Resource estimate and Mineral Reserve statement announced July 15, 2026. Salazar holds a 25% carried interest, with Silvercorp holding 75%.
Study resultsSalazar Resources Reports El Domo after-Tax NPV (8% Discount Rate) of US$573 Million, Representing a 121% Increase Compared to the October 2021 Feasibility Study
An updated NI 43-101 technical report by SRK Consulting (China) Ltd. for the Curipamba–El Domo polymetallic project in Ecuador, effective December 31, 2025, puts the after-tax NPV at US$573 million at an 8% discount rate, a 121% increase over the October 2021 feasibility study, and US$705.6 million at 5%. Proven and probable reserves rose 10% to 7.13 Mt grading 1.93% Cu, 2.55 g/t Au, 47.82 g/t Ag, 2.63% Zn and 0.26% Pb; measured and indicated resources rose 27% to 11.4 Mt. Salazar holds a 25% carried interest; first commercial concentrates are expected mid-2027 over a 13-year mine life at 666,000 tonnes per year.
Study resultsSalazar Resources Welcomes Reform Exempting Exploration from the Mining Oversight and Control Fee and Strengthening Ecuador’s Competitiveness
Ecuador's Mining Regulation and Control Agency (ARCOM) has issued Resolution No. ARCOM-006/26, amending the Mining Oversight and Control Fee regime in effect since 2025. Projects at the exploration stage are now exempt from the fee, and for the 2026 fiscal year the fee established under the previous resolution will not be applied. Salazar Resources, which holds exploration-stage projects in Ecuador, had cautioned in a June 19, 2025 news release that the proposed fee would burden exploration companies.
CorporateSalazar Resources Further Defines Copper-Gold Porphyry Mineralization at Monja Project, Ecuador, with Rock Samples up to 1.71% Cu and Strong Soil Anomalies
Rock and soil sampling and geological mapping at the 100%-owned Monja Project in Loja Province, Ecuador returned rock chip results up to 1.71% Cu, 0.99 g/t Au, 10.3 g/t Ag and 162 ppm Mo, with 64 of 99 rock samples above 300 ppm Cu and 20 above 1,000 ppm Cu. Of 23 soil samples, 16 (70%) exceeded 100 ppm Cu, suggesting copper mineralization over roughly 180,000 m². Mapping along a 150 m creek showed stockwork veining averaging about 10 veins per metre, with porphyry-related alteration defined over approximately 1.5 km by 0.5 km. Further surface geochemistry, mapping and planned geophysical surveys are intended to refine drill targets.
Drill resultsSalazar Resources Defines 650m x 500m Gold-Bearing Barite Horizon at El Tigre, Ecuador; Surface Sampling Returns 45m at 8.94 g/t AuEq
Rock chip sampling and mapping at the 100%-owned El Tigre Project in Loja Province, Ecuador returned weighted averages of 45m at 8.94 g/t AuEq in the T2 Zone and 50m at 2.02 g/t AuEq in the T3 Zone. The work defines a gold-bearing, barite-rich horizon exposed over approximately 650m x 500m at surface, open along strike and at depth. A total of 66 rock chip samples were collected between March and June 2026, with 15 above 0.4 g/t Au. A scout drilling program is being designed.
Drill resultsSalazar Resources Reports Up to 100 g/t Gold and 1,000 g/t Silver From Rock Chip Sampling at Tarqui Concession, Ecuador
Rock chip sampling at the 100%-owned Tarqui concession in Morona Santiago Province, Ecuador returned 80.9 g/t Au with 824 g/t Ag (sample 400345) and >100 g/t Au with >1,000 g/t Ag (sample 400362, over-limit analysis pending), plus 13 samples between 1.0 and 17.9 g/t Au over a vein system about 100 m long. Historical BHP drilling at the 1.8 km x 1.0 km Cu-Mo porphyry returned 0.33% CuEq over 186 m in TARQ1D and 0.34% CuEq over 218 m in TARQ4D. Salazar acquired the project from Silvercorp Metals, closing March 18, 2026, and plans mapping, channel sampling and drill targeting at Tarqui, Yumi and Quimi.
Drill resultsOwnership of Santiago Copper-Gold Project Consolidated Untested Porphyry Core and 3 km × 2 km Anomalous Zone Define a High-Priority Target
100% ownership of the Santiago copper-gold project, a single 2,350-hectare concession about 37 km north of Loja in Loja Province, southern Ecuador, has been consolidated. Historical Newmont drilling in the lithocap returned 323.09 m @ 0.23% Cu and 0.40 g/t Au in FUD-01 and 267.80 m @ 0.24% Cu and 0.43 g/t Au in FUD-02, while geochemistry and MobileMT geophysics define a 3 km × 2 km anomaly with an undrilled porphyry core. Salazar will review data to design an exploration program.
Drill resultsSalazar Resources Identifies High-Priority Copper-Gold Porphyry Target at its 100% Owned Monja Project, Ecuador
Surface mapping at the 100% owned Monja Project in Loja Province, Ecuador, covering 9,088 hectares across two licenses, has defined a copper-gold porphyry system with a two kilometre by one kilometre central core. Nine rock chip samples were collected, with three returning encouraging results; the best, sample 51584, returned 4.77% Cu, 1.12 g/t Au, 19.5 g/t Ag and 74 ppm Mo. Salazar has designated Monja its exploration focus and planned mapping, sampling and ground geophysics to define drill targets.
Drill resultsSalazar Resources Consolidates Ecuador Copper-Gold Portfolio While Maintaining 25% Carried Interest in the El Domo Mine
The acquisition of two Silvercorp Metals subsidiaries holding interests in the Santiago, Pijilí and Tarqui-Quimi projects in Ecuador has closed, in exchange for a 1.5% net smelter return royalty on the projects; final guarantee documentation for the royalties remains pending. Salazar's ownership of Santiago and Pijilí rises from 20% to 100%, and it has acquired the Tarqui and Quimi concessions. The company retains a 25% carried interest in the El Domo copper-gold project, under construction. Drilling is targeted for 2026, subject to permitting and financing.
Acquisition