Salazar Resources Provides El Domo Construction Update, Initiates Drill Program at Tarqui and Engages IR firms
Salazar advances Tarqui drilling and IR expansion to offset El Domo rain delays, maintaining its development momentum.
Salazar Resources Limited (SRL) reported construction progress at the Curipamba-El Domo project, operated by Silvercorp Metals, noting significant delays caused by extreme rainfall that was 489% above the six-year average. The weather conditions resulted in 77 days of suspended work and damage to the tailings storage facility. Despite these impacts, process plant foundations are complete, prefabricated steel has shipped, and major long-lead equipment has arrived at port. Construction of the site substation and external power line has commenced. Salazar retains a 25% fully carried interest in the project, meaning it bears no cost for these construction activities.
Drilling has officially commenced at the company’s 100%-owned Tarqui project, targeting the Yumi gold-silver veins. Phase 1 involves approximately 1,500 metres across five holes. Phase 2, targeting the Monja copper-gold porphyry system, is planned for Q1 2027 with up to 3,500 metres across four holes, subject to permits and surface access.
The company engaged Minera IR Inc. for investor relations services at C$6,000 per month, with potential incentive stock options if the agreement extends. A separate corporate communications agreement with Market Equities Limited was finalized at a fixed fee of US$100,000, payable only upon TSX Venture Exchange acceptance. These developments follow the closing of a $3.5 million non-brokered private placement on October 8, 2026, which funded the current exploration program.
Salazar Resources Limited (SRL) has commenced drilling at Tarqui, an activity that aligns with the exploration plan announced on October 8 and 19, 2026. The company also provided an update on the construction at El Domo, noting that while rainfall caused delays, the fully carried interest structure protects the balance sheet from cost overruns or schedule slippage.
Additionally, Salazar engaged IR and communications firms, a standard corporate housekeeping measure for a junior explorer advancing toward production. The fixed-fee IR contract and modest monthly retainer indicate a measured approach to capital allocation.
The stock has already priced in the $3.5 million financing and the planned drilling program. This release confirms the execution of previously disclosed plans without introducing unexpected upside or downside surprises.
Salazar Resources Limited is a Canadian junior exploration and development company focused on Ecuador's Zamora Batholith and Loja Province. Its flagship asset is the Curipamba-El Domo polymetallic mine, where the company holds a 25% fully carried interest while Silvercorp Metals serves as the 75% operator. The project targets first commercial concentrates by July 1, 2027.
An independent NI 43-101 technical report effective December 31, 2025, updated the after-tax net present value at an 8% discount rate to US$573 million, representing a 121% increase from the 2021 feasibility study. Mineral reserves expanded 10% to 7.13 million tonnes, containing 584,000 ounces of gold, 137,700 tonnes of copper, and 187,700 tonnes of zinc. The mine life is estimated at 13 years.
Salazar also holds 100% ownership of projects including Tarqui-Quimi, Monja, Santiago, El Tigre, and Pijili. These assets are in early exploration stages and target porphyry, epithermal, and VMS systems.