Santiago consists of a single concession, which totals 2,350 hectares and is located approximately 37 km north of the city of Loja in Loja province in southcentral Ecuador.

Highlights

• Principal target is a large prospective porphyry (3,000 by 2,000 metre) with coincident prospective geology, a wide-spread hydrothermal alteration footprint, an extensive gold and copper surficial geochemistry anomaly, and a coincident airborne MobileMT geophysical anomaly
• Secondary target is an epithermal target area denoted by a swarm of mineralized veins and breccia units
• Historical drilling results include:
  • FUD-01 intersected 323.09 metres of 0.23% copper and 0.40 g/t gold for 0.65% CuEq
  • FUD-02 intersected 267.80 metres of 0.24% copper and 0.43 g/t gold for 0.70% CuEq, including a higher-grade subinterval that intersected 170.95 metres of 0.33% copper and 0.55 g/t gold for 0.91% CuEq
  • FUD-09 intersected 295.17 metres of 0.22% copper and 0.20 g/t gold for 0.42% CuEq, including a higher-grade subinterval that intersected 67.86 metres of 0.79% copper and 0.27 g/t gold for 1.06% CuEq
• Historical rock chip sampling results from veins and breccia units include:
  • Española Vein – 2.0 metres grading 28.10 g/t gold and 231.0 g/t silver; 1.0 metre grading 26.00 g/t gold and 242 g/t silver; 1.0 metre grading 18.2 g/t gold and 252 g/t silver; and 1.0 metre grading 4.8 g/t gold and 442.0 g/t silver

A historical summary and more details of the sampling and figures mentioned above can be found on the Adventus-SRL Press Release of June 15, 2020

Adventus-Salazar Exploration Alliance
The Santiago concession is within the Adventus-Salazar Exploration Alliance. The Alliance has completed work to assess the exploration potential at Santiago, with extensive mapping, geophysical surveying and sampling ahead of drilling.
Adventus funded 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.
The Santiago Project is subject to a 1.5% NSR that can be bought out for US $1,000,000 and a 4% net profits interest royalty that are held by INV Metals Inc.

On December 23, 2024 Salazar announced the purchase of ecuadorian exploration properties from Silvercorp Metals Inc. This transaction includes Santiago and will give Salazar full ownership of the Santiago project. This transaction is expected to be completed in Q1 2025.  See press release here