Pijili is a 3,246 ha exploration licence (three concession areas in Azuay province) within the Adventus-Salazar Exploration Alliance. The Ecuador-wide Alliance is for zinc targets, or for specified licences, in this case Pijili, which hosts copper-gold porphyry exploration targets, in conjunction with epithermal gold and silver veins. Legal artisanal miners following precious metal-bearing structures via small adjacent open pits are active in the area. The Alliance is currently investigating the exploration potential at Pijili, with extensive mapping, surveying and sampling underway ahead of drilling.
Pijili was granted to Salazar by the government subject to US$5 million of exploration investment before 2023. Adventus will fund all activities in the Alliance up to a construction decision on any project. The work programme and budgets are controlled by the Alliance board, consisting of two representatives from Adventus, and one from Salazar. Exploration activities of the Alliance are carried out by Salazar on a cost +10% basis.