Adventus and Salazar announce Ecuador Exploration Alliance and optioning of Pijili Project

2 minute read
29 March 2018

On March 29, 2018, Adventus Zinc Corporation (TSXV: ADZN) and Salazar Resources Limited (TSXV: SRL) announced that their previously announced Ecuador-wide exploration alliance agreement had been formally executed (the "Alliance").

Adventus and Salazar also announced the optioning of the first project into the Alliance, having entered into a definitive agreement for the Pijilí exploration project (the "Pijilí Project"), which is to be transferred into the Alliance. The Pijilí Project, consisting of three concessions totalling 3,246 hectares, is subject to a US$5 million spending commitment over 4 years to obtain 100% ownership from the Republic of Ecuador.

Toronto-based Adventus is focused on zinc exploration and project development globally. The company has large prospective land packages in both Ireland and Canada and is earning a 75% ownership interest in the Curipamba copper-gold-zinc project in Ecuador.

Salazar is a mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador.

Gowling WLG advised Adventus with respect to the negotiation of the alliance agreement and the optioning of the Pijili Project with a team that included Denis Silva and Tara Amiri-Khaledi.

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