Project History
The Santa Barbara Project area has seen mineral exploration since 1988, when ISSFA and Prominex UK initiated regional stream-sediment sampling and geological mapping that identified the original mineralized prospects in the district. Over the following three decades, the Project has been advanced by a series of well-funded operators who collectively completed over 22,000 metres of diamond drilling at the Santa Barbara deposit, multiple geophysical surveys, and two independent technical studies - laying a sizeable geological foundation that Tincorp is now building on.
Drilling History
The Santa Barbara deposit has been the subject of 56 diamond drill holes totalling 22,026.7 metres, completed by previous operators between 1999 and 2018:
| Period | Operator | # of Holes and Metres Drilled |
|---|---|---|
| 1999-2000 | TVX Gold Inc. / Chalupas Mining | 19 holes (4,296 m) |
| 2008 | Ecometals Ltd. | 1 hole (~600 m) |
| 2012-2016 | Ecuador Gold & Copper Corp. (EGX) | 27 holes (15,223 m) |
| 2017-2018 | Lumina Gold / Luminex Resources | 9 holes (1,907 m) |
In addition to drilling at the Santa Barbara deposit itself, operators conducted exploration drilling at nearby satellite targets (El Hito, Nayumbi) and completed regional geochemical sampling, trenching, induced polarization, magnetic, and airborne ZTEM geophysical surveys across the broader concession package, identifying multiple untested targets that remain prospective for future drill campaigns.
Technical Studies
The deposit has been the subject of two prior independent technical studies, each reflecting the evolving understanding of the Project's geology and scale:
- 2015 Preliminary Economic Assessment prepared for EGX
- 2021 Preliminary Economic Assessment prepared by Luminex for the Condor District, including a Mineral Resource Estimate for Santa Barbara
The current March 23, 2026 Mineral Resource Estimate prepared by SRK Consulting (Canada) Inc. supersedes all prior historical estimates.
A Long-Overlooked Asset
Despite the demonstrated scale of the deposit, Santa Barbara has historically been a non-core asset for each of its prior operators. Lumina Gold focused its capital on advancing its flagship Cangrejos Gold-Copper Project and spun out Santa Barbara along with its other Ecuadorian assets into Luminex Resources Corp. in 2018. In January 2024, Adventus Mining Corporation merged with Luminex, consolidating the Ecuadorian asset portfolio. When Silvercorp Metals Inc. acquired Adventus in July 2024, its strategic priorities were the construction of the El Domo VMS project and the advancement of the adjacent Condor Project.
In each case, Santa Barbara sat in the shadow of a larger, more advanced flagship project. Tincorp's acquisition of Santa Barbara in May 2026 unlocks the Project as a standalone, fully-funded, exploration story building upon the large resource foundation.