Salazar Resources Limited (TSXV: SRL) (OTCQB: SRLZF) (FSE: CCG) has announced a two-phase exploration drilling program in Ecuador, funded by a recently closed $3,500,000 non-brokered private placement. Phase 1 targets approximately 1,500 metres of drilling across five holes at the Yumi gold-silver epithermal veins on the 100%-owned Tarqui project, with drilling expected to begin in late October 2026. Phase 2 contemplates up to approximately 3,500 metres at the 100%-owned Monja copper-gold porphyry target from the first quarter of 2027, subject to surface access and permits.

Key Points

  • Salazar Resources Limited (TSXV: SRL) (OTCQB: SRLZF) (FSE: CCG) is a Canadian junior explorer focused on Ecuador
  • Phase 1 drilling of ~1,500 metres in five holes at the Yumi gold-silver veins at Tarqui is set to begin late October 2026
  • Rock-chip sample 400362 returned 105 g/t Au and 1,038 g/t Ag; both results are selective in nature and may not be representative
  • Investors may be watching for Phase 1 drill results from Tarqui and permitting progress at Monja ahead of Phase 2

Yumi Veins at Tarqui: First-Ever Drill Test of High-Grade Gold-Silver System

The Yumi Veins are an epithermal gold-silver system on the southern flank of the Tarqui copper-molybdenum porphyry in Morona Santiago Province. Geological mapping has traced the system over approximately 400 metres of strike length, with vein widths of 0.5 to 2.0 metres. The veins are interpreted as low- to intermediate-sulphidation in style and have not previously been drilled. Over-limit analysis of rock-chip sample 400362 returned 105 g/t Au and 1,038 g/t Ag, while sample 400345 returned 80.9 g/t Au and 824 g/t Ag. The company cautions that these are selective samples and may not be representative of broader mineralisation.

Monja Copper-Gold Porphyry Phase 2 Program and Ecuador Belt Context

Monja is a 9,088-hectare project in Loja Province, situated in Ecuador's Miocene metallogenic belt. Mapping and sampling have defined a porphyry-related alteration footprint of approximately 1.5 km by 0.5 km, with selective rock samples returning up to 4.77% Cu, 1.12 g/t Au, and 19.5 g/t Ag. Phase 2 contemplates up to approximately 3,500 metres in four holes designed to test the main copper-gold anomaly, subject to surface access and permits. Ongoing geological mapping and soil sampling are continuing to define anomaly continuity and identify new mineralised zones at the property.

Curipamba-El Domo Carried Interest and Broader Portfolio

Beyond its 100%-owned exploration projects, Salazar holds a 25% carried interest in the Curipamba-El Domo copper-gold project, currently under construction by operator Silvercorp Metals Inc. The operator has stated the project is scheduled to be in production by July 1, 2027, according to a Silvercorp news release dated February 4, 2026. The company's broader portfolio also includes the Santiago, Pijilí, and El Tigre projects, where work has identified a tungsten-silver intersection, a gold-bearing barite horizon, and a coincident geochemical and geophysical anomaly, respectively.