Salazar Resources to Begin Drilling the Yumi Gold-Silver Veins at Tarqui, with Porphyry Drilling Planned at Monja, Ecuador
Salazar mobilizes a $3.5 million drill rig to target the Tarqui veins and Monja porphyry deposits.
Salazar Resources Limited (SRL) has outlined its Phase 1 and Phase 2 exploration plans for its Ecuadorian assets, which are fully funded by a $3.5 million non-brokered private placement closed in October 2026. Phase 1 involves approximately 1,500 metres of drilling across five holes at the Yumi gold-silver epithermal veins on the Tarqui project, with mobilization expected in late October 2026. Phase 2 contemplates up to 3,500 metres of drilling at the Monja copper-gold porphyry target starting Q1 2027, pending permits and surface access.
Additional portfolio updates include soil sampling at Quimi, construction progress at Curipamba-El Domo, which carries a 25% interest and targets July 2027 production, and exploration plans for Santiago, Pijilí, and El Tigre. Historical BHP drilling at Tarqui intersected porphyry-style mineralization, but the core remains unlocated. Recent surface sampling at Yumi returned up to 105 g/t Au and 1,038 g/t Ag.
Salazar Resources Limited (SRL) announced the deployment of capital into high-priority exploration targets, specifically the Yumi veins and Monja porphyry, as a direct follow-up to the October 8, 2026 financing closing. This move validates management's exploration strategy and aligns with the company's shift toward a critical-minerals and porphyry-focused portfolio following the acquisition of Silvercorp's exploration assets in March 2026.
The news is considered expected and incremental, as it does not introduce new geological discoveries or financial metrics. There is no material deviation from prior guidance or expectations, with the drilling program representing routine activity for an exploration-stage company with secured funding.
Salazar Resources Limited (SRL) is a Canadian junior mining company focused on Ecuador, holding a portfolio of exploration-stage projects and a carried interest in a pre-production mine. Its flagship asset is the Curipamba-El Domo polymetallic project, where Salazar holds a 25% fully carried interest with no development costs, while Silvercorp Metals operates and funds 100% of construction. El Domo is on track for first commercial concentrates in July 2027. An updated NI 43-101 technical report from July 2026 confirmed an after-tax NPV of US$573 million at an 8% discount and a 10% increase in mineral reserves.
Salazar’s exploration portfolio includes 100%-owned projects: Monja (copper-gold porphyry), Tarqui-Quimi (epithermal veins and porphyry), Santiago (untested porphyry core), El Tigre (gold-bearing barite/VMS), and Pijilí (tungsten-silver).