Salazar Resources Maps 2km×1km Monja Copper-Gold Zone with 4.77% Cu
HBM•Salazar Resources has mapped a 2km×1km copper-gold system at Monja in Ecuador, with rock chips returning 4.77% Cu, 1.12 g/t Au and 19.5 g/t Ag. It also consolidated ownership of the Santiago, Pijilí and Tarquí-Quimi projects and holds a 25% carried interest in El Domo with an NPV8% of US$259 million.
1. Monja Project Discovery
Salazar Resources completed surface mapping at its Monja Project in Loja Province, Ecuador, delineating a 2 km×1 km mineralized core characteristic of a porphyry copper-gold system. Nine rock chip samples returned up to 4.77% Cu, 1.12 g/t Au, 19.5 g/t Ag and 74 ppm Mo, indicating robust hydrothermal breccias and alteration footprints.
2. Portfolio Consolidation
On March 18, Salazar finalized the acquisition of the Santiago, Pijilí and Tarquí-Quimi exploration licences from Silvercorp Metals in exchange for 1.5% net smelter return royalties. This move consolidates Salazar’s wholly-owned Ecuadorian portfolio, aligning its focus on flagship Monja and optimizing its exploration pipeline for prospective farm-out partnerships.
3. Carried Interest in El Domo
Salazar retains a 25% carried-through-to-production interest in the El Domo deposit at Curipamba, under development by Silvercorp Metals. A 2021 feasibility study estimated an NPV8% of US$259 million and an IRR of 32% based on Proven and Probable reserves of 6.5 million tonnes grading 1.93% Cu, 2.49% Zn and 2.52 g/t Au.
