Canadian Mining Journal

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Salazar Resources set to dust off neglected portfolio



After riding out a decade of political and market instability, Ecuador-focused junior Salazar Resources (TSXV: SRL) has emerged with funds and a new focus to explore its portfolio of early stage projects in the country.

The company is helmed by Fredy Salazar, an Ecuadorian geologist with more than 30 years of experience, including a stint working for Newmont Mining (NYSE: NEM) in the country. Over the years he had a hand in finding some of the nation’s most significant mineral deposits, including Lundin Gold’s (TSX: LUG) Fruta del Norte, Lumina Gold’s (TSXV: LUM) Cangrejos, and Zijin Mining’s Rio Blanco, the company says.

Salazar listed his namesake company in 2007, before enduring years of depressed markets after the 2008 global financial crisis, and stifling mineral development policies under former Ecuadorian president Rafael Correa.

“All through the turmoil, Fredy maintained work programs. His team made discoveries, bought drill rigs, survived, and generated an internal pipeline of projects and ideas,” says Merlin Marr-Johnson, who was appointed in January as a director and vice-president of corporate development.

In recent years the company’s attention …

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