Salazar Provides Update on the Construction of the Mine at the El Domo Project
Salazar’s El Domo project is fully funded and on track for a July 2027 commissioning date.
Salazar Resources provided a construction progress update on the Curipamba-El Domo polymetallic project in Ecuador as of July 31, 2026. The company holds a 25% fully carried interest, with Silvercorp Metals operating and funding 100% of the construction costs. Commissioning is targeted for July 2027.
Cumulative capital expenditures reached US$66.2 million since January 2025, with US$12.3 million spent in Q2 2026. Site preparation, open-pit pre-stripping, and processing plant construction are advancing. Major equipment has been procured and shipped.
Silvercorp Metals received a second US$43.9 million installment from Wheaton Precious Metals under a US$175.5 million stream financing agreement, bringing total proceeds to ~US$87.8 million. Construction is confirmed as fully funded.
Economic metrics from the NI 43-101 report (effective Dec 31, 2025) show an after-tax NPV of US$573 million (8% discount), an IRR of 45%, and a payback period of ~3 years. Mineral reserves stand at 7.13 Mt grading 2.55 g/t Au, 47.82 g/t Ag, 1.93% Cu, 0.26% Pb, and 2.63% Zn. Operational improvements include a refined flowsheet improving copper and gold recoveries by 5.4% and 6.2% respectively versus the 2021 feasibility study.
Salazar Resources Limited (SRL) confirmed that construction of the El Domo project is progressing on schedule and remains fully funded, consistent with prior announcements made in February and July 2026. The company also noted that progress on the Wheaton Precious Metals stream financing serves as a validation of the project's bankability, a development that was already priced in following the July 15, 2026 technical report update.
The update is considered incremental and expected, introducing no new material risks or unexpected upside. It serves as a routine milestone confirmation ahead of the mid-2027 production target. Given the market's prior awareness of the funding status and construction timeline, the immediate price impact is likely to be muted. The stock has already rallied from approximately $0.23 in July to approximately $0.44 in August following the net present value upgrade and exploration updates.
Salazar Resources Limited (SRL) is a Canadian junior exploration and development company focused on Ecuador. The company’s flagship asset is the Curipamba-El Domo polymetallic project, located in Bolívar and Los Ríos provinces. Salazar holds a 25% fully carried interest in the project, while Silvercorp Metals holds the remaining 75% and operates the site. The project is currently in the construction and pre-production stage, with the company targeting first commercial concentrates in July 2027.
In addition to its flagship asset, Salazar holds 100% ownership of exploration-stage projects including Monja, Santiago, Tarqui-Quimi, El Tigre, and Pijilí. The company is led by President and CEO Fredy Salazar, who brings over 30 years of experience in Ecuador geology and former exploration management at Newmont.