Exploration Alliance in Ecuador
In addition the Curipamba Project, Adventus and Salazar have furthered their partnership by forming a country-wide exploration alliance in Ecuador. The Adventus (80%) and Salazar (20%) joint venture is applying Adventus' financial and capital markets strength with the Salazar team's history of exploration success and local know-how for new discoveries in Ecuador. The joint venture is managed by a steering committee board, which consists of two representatives from Adventus and one representative from Salazar. Adventus shall fund activities of new and approved exploration projects up to future construction decisions.
In 2018, Adventus and Salazar incorporated two greenfield exploration projects into the exploration alliance: Pijili and Santiago. Reconnaissance work at the projects commenced in 2018, with airborne geophysical surveys completed in Q2 2019 and plans to drill initial targets in 2019 and 2020.
Adventus and Salazar continue to pursue additional exploration project opportunities within Ecuador through its local, regional, national, and global networks.