Salazar Resources Limited has identified a high-grade tungsten and silver sub-interval within historical drill data from the Pijilí Project in central Ecuador, returning 2.00 metres grading 1.80% W and 740 g/t Ag.

The assay data stems from drill hole MERC-011, completed during a 2020–2021 exploration campaign at the Mercy concession. Salazar consolidated 100% ownership of the Pijilí Project in March 2026 following an asset acquisition from Silvercorp Metals Inc.

An internal technical review of historical drilling and assay logs revealed a previously unreported sub-interval from 18.3 to 20.3 metres. This narrow zone is hosted within a broader 18.55-metre intercept running from 4.70 to 23.25 metres, which averaged 0.99% Cu, 0.25 g/t Au, 0.03% Mo, 189.8 g/t Ag, and 0.23% W. Core logging indicates the mineralization occurs within a hydrothermal breccia associated with a shear or fault, representing a distinct overprinting event superimposed on the broader porphyry system.

Surface rock and soil sampling across the northern section of the Mercy concession has outlined a tungsten anomaly measuring 600 metres by 450 metres. Salazar plans to conduct detailed structural mapping of the fracture and shear zone to define specific drilling targets to follow up on the high-grade intercepts in MERC-011.

Following the re-interpretation at Pijilí, the company intends to re-analyse its other 100%-owned exploration assets for critical minerals such as tungsten, scandium, germanium, antimony, magnesium, and vanadium.

“Copper, silver and tungsten are all on the United States' 2025 Critical Minerals List, and MERC-011 returned all three over the same two metres. At 1.80% W - 2.27% WO3 - that is several times the median grade the United States Geological Survey reports for tungsten skarn deposits worldwide. What makes it significant for Salazar is where it came from: assays we already owned. We have spent years looking at this ground for copper and gold, and we are now going back over a 100%-owned portfolio with a critical-minerals lens. Pijilí has told us what to look for .”

— Fredy Salazar, President and CEO

Read the full announcement: Salazar Reports a High-Grade Tungsten-Silver Intersection at the Pijili Project, Ecuador: 2.00 Metres Grading 1.80% W (2.27% WO3) and 740 g/t Ag