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Salazar Resources Ltd. reports on copper-gold exploration and mine-development interests in Ecuador. Recurring updates cover its wholly owned Monja and Santiago projects in Loja Province, including mapping, sampling, geophysics, historical drilling reviews, porphyry targets, and epithermal mineralization indicators.
The company also issues updates on the El Domo joint venture, where Silvercorp Metals holds a 75% interest and operates the project while Salazar holds a 25% carried interest. Other company developments include Ecuador mining regulation, concession costs, annual meeting results, director elections, stock option plan approvals, and other governance matters.
Salazar Resources (TSXV: SRL) (OTCQB: SRLZF) has announced a favorable court ruling regarding the environmental license for the El Domo - Curipamba Project in Ecuador. The constitutional protective action filed against the Ministry of Environment, Water, and Ecological Transition of Ecuador (MATTE) on June 5, 2024, was rejected by the Court on July 24, 2024.
The Court concluded that the consultative process followed by MATTE in issuing the permits complied with legal requirements. Although the plaintiffs intend to appeal, construction on the project can continue as no precautionary measures were sought or granted. Salazar Resources owns 25% of the project, while Adventus Mining owns 75% and is the operator.
Salazar Resources has granted stock options to its directors and officers. These options allow the purchase of up to 4,950,000 common shares at a price of $0.105 per share. The stock options have a five-year term. This move aims to incentivize the company's leadership and align their interests with shareholders.
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