Pijili is a 3,246 ha exploration licence (three concession areas in Azuay province) within the Adventus-Salazar Exploration Alliance. Legal artisanal miners following precious metal-bearing structures via small adjacent open pits are active in the area.
Pijili was granted to Salazar by the government subject to US$5 million of exploration investment before 2023. Adventus will fund all activities in the Alliance up to a construction decision on any project. The work programme and budgets are controlled by the Alliance board, consisting of two representatives from Adventus, and one from Salazar. Exploration activities of the Alliance are carried out by Salazar on a cost +10% basis.
Phase 1 drilling (12 holes) in 2021 was carried out at the Mercy Concession. The drilling intersected porphyry-style copper-gold-molybdenum mineralization. Exploration at Rosa de Oro & Carmen de Pijili Concessions has identified four high-priority targets called El Pato, Rosa de Oro, Naranjos and Papagayo. See the News Release from April 8, 2021. The Partners are assessing opportunities for a second phase of exploration drilling in 2022.