Soil Grids and Drill Plans Shape the Next Phase of Copper Porphyry Work in Ecuador
Key Highlights
- ➤Monja soil grid defines a 1.9 km by 0.9 km copper anomaly, open northwest and southeast
- ➤New Monja rock samples reach 2.76% Cu, 0.71 g/t Au, 28.8 g/t Ag
- ➤Salazar plans approximately 3,500 meters across four first drill holes from Q1 2027
- ➤Solaris receives final US$50 million tranche, completing its US$200 million Royal Gold package
- ➤Collective’s drilling extends Ramp Zone mineralization to approximately 370 meters below its Mineral Resource
- ➤OR Royalties remains on track for mid-point of 80,000-90,000 GEO 2026 guidance
Expert Statements
Fredy Salazar, President and CEO of Salazar Resources Limited
“In five months, the soil grid has taken Monja from a handful of encouraging surface samples to a coherent, kilometre-scale copper anomaly with the copper, zinc and manganese zonation we’d expect around a porphyry center. And it’s still open to the northwest and southeast. This is the same systematic, ground-up work that led our team to the Curipamba-El Domo discovery, now under construction. Our focus is on closing out the grid and selecting targets for the first holes ever drilled at Monja, planned for 2027.”
Matthew Rowlinson, President and Chief Executive Officer of Solaris Resources Inc.
“Receipt of the final tranche completes the US$200 million Royal Gold funding package and materially strengthens our liquidity as we advance Warintza’s social, permitting and technical workstreams. The package has provided substantial capital without an equity issuance while preserving strategic flexibility.”
Ari Sussman, Executive Chairman of Collective Mining Ltd.
“Every one of these four holes found gold beneath and outside the Mineral Resource, with the deepest hole extending the Ramp Zone several hundred meters further down.”
Jason Attew, President and Chief Executive Officer of OR Royalties Inc.
“We also remain on track for approximately the mid-point of our 2026 guidance, even after absorbing the Barnat pit disruption at Canadian Malartic. More importantly, 2026 is the year our development pipeline turned into production: Dalgaranga, Cuiú Cuiú and Amulsar have all poured first gold in 2026, taking the portfolio to 25 producing assets.”
Paul Tomory, President and CEO of Centerra Gold Inc.
“This quarter’s results reflect consistent execution at our operations. Mount Milligan delivered a fourth consecutive quarter on plan and remains on track to achieve its 2026 production guidance.”
VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- USA News Group News Commentary - Copper was one of 10 new minerals added to the U.S. Geological Survey’s final 2025 List of Critical Minerals in November 2025, and across the Americas, copper and gold companies sit at very different stages. In southeast Ecuador, a developer has completed a funding package; in Colombia, an explorer has drilled below its maiden Mineral Resource; and a royalty company has extended copper and gold royalties in Chile. In Loja Province, southern Ecuador, an explorer has laid a soil grid over its copper-gold porphyry target and says the results give it a defined area within which to select targets for its first planned drill holes, subject to surface access and permits. Companies mentioned in today’s commentary include: Salazar Resources Limited (OTCQB: SRLZF) (TSXV: SRL) (FSE: CCG), Solaris Resources Inc. (NYSE: SLSR) (TSX: SLS), Collective Mining Ltd. (NASDAQ: CNL) (TSX: CNL), OR Royalties Inc. (NYSE: OR) (TSX: OR), Centerra Gold Inc. (NYSE: CGAU) (TSX: CG).
Get started
Create a free account to read the full story.