Salazar Resources Ltd

Receive alerts
Market Cap:
$19.6 m
0.16 CAD
52 weeks high
52 weeks low


The Curipamba project is a volcanogenic massive sulfide (VMS) district, located in central-west Ecuador in the Western Mountain range's Macuchi Group about a 2.5-hour drive from Ecuador's major port city, Guayaquil and approximately 250 Km southwest of Quito, the capital of Ecuador. The Company owns 7 concessions (30,327 hectares) at the Curipamba project; a substantial landholding in a never-drilled prospect in Ecuador.


Rumiñahui is a 2,910 hectare exploration licence (2 concessions) held 100% by Salazar Resources that hosts copper-gold porphyry targets. The licence is located approximately 100 km northwest of Quito.

The prospect area is cut by the San Francisco river and exhibits a number of historic adits and old workings. Mapping and sampling have indicated the presence of gold-bearing, porphyry-style alteration and veining, shear zones, and quartz-veining.


Macara is a 1,807 hectare exploration licence (2 concessions) in southern Ecuador held 100% by Salazar Resources that host VMS targets. The licence has undergone mapping, soil geochemistry and rock-chip sampling. Drill targets are under evaluation.

The Rumiñahui Property was originally explored by informal placer gold miners. While traversing along the San Francisco River the informal miners discovered a large shear zone with narrow quartz veins with high gold grades up to 18 g/t gold and accessory copper and silver. In general this property has under gone very preliminary exploration work that consisted only of limited mapping (on going) and sampling of one old gold prospect (San Francisco Anomaly) and a new quartz sulphide vein (Sune Anomaly), which is about one kilometer south, with interesting gold, copper and silver values.


Salazar Resources has applied for five mining concessions where several porphyries and vein Systems in the Western flank were encountered South of Colombia, department of Nariño, with a total of 25,000 hectares. The deposits for the claims have been paid and Salazar Resources is in the process of activating title on selected mining licences.

Canada & Ecuador.

Board and Management

Fredy Salazar | PRESIDENT & CEO
Mr. Salazar is a professional geologist registered in Ecuador. Mr. Salazar holds a bachelor’s degree in geology and a master’s degree in environmental sciences from Central University, Quito. From 1988 through 2000, Mr. Salazar worked in the mineral resource sector throughout Ecuador. From November, 1990, through November, 1998, Mr. Salazar worked with Newmont Overseas Exploration Ltd. as the regional exploration geologist, reviewing and evaluating over 100 gold prospect submittals. Mr. Salazar has an extensive and detailed knowledge of Ecuador’s geological potential. During a worldwide downturn in resource exploration activities after Newmont came out in 2001. Mr. Salazar established an environmental consulting company, Congeminpa Ltda., which became one of Ecuador’s most important Environmental Consulting firms. In 2004, Mr. Salazar resumed his efforts in resource exploration opportunities. He was instrumental in Aurelian Resource’s acquisition of its Frutta del Norte property. Currently, he is the CEO of Salazar Resources Limited since March 2007 for advanced exploration projects in Ecuador and Colombia.

Pablo Acosta | CFO
Mr. Acosta is an Ecuadorian certified public accountant and has been a director and officer of several private companies in Ecuador since 1985. Mr. Acosta earned his bachelor of commerce from the Pontificia Universidad Catelica del Ecuador (PUCE), Quito Ecuador, 1987; audit manager at Romero & Asociados from 1985 to 1987; managed Bermudez & Asociados Cia. Ltda. audit department from 1987 to 2003. Mr. Acosta has specialized in providing accounting, external auditing, project and operations auditing, instructors training, company valuations, finance management, cost and budget planning, quality management standards, and environmental matters. Since 2003, Mr. Acosta has worked with Mr. Salazar.

Mr. DeMare is a chartered accountant and has been a director and officer of many publicly listed companies in Canada since 1986. Mr. DeMare earned his bachelor of commerce from the University of British Columbia in May, 1977. Since 1991, as president of Chase Management Ltd., he has specialized in providing accounting, management, securities regulatory compliance and corporate secretarial services to companies listed on the TSX-V and its predecessors. Mr. DeMare is currently a director and/or officer of several TSX-V-listed companies.

Mr. Marr-Johnson is a graduate in geology from Manchester University and holds a Master’s Degree in Mineral Deposit Evaluation from the Royal School of Mines, Imperial College. He has 25 years’ experience in the minerals sector, including work as an exploration geologist for Rio Tinto, an analyst for HSBC and a portfolio manager for Blakeney Management. Merlin has worked on projects in South America, Africa, Central Asia and Europe, and as CEO he has brought two companies to AiM, London. He speaks several languages, including Spanish.

Mr. Salazar holds a BA (hons) in Global Financial Management from Regent's Business School, London and Ecuadorian certificiations in Tax. Freddy joined the Company in 2010 and since 2014 has overseen transactions and new business for Salazar Resources. He is completing an MA in Tax at Universidad Andina Simon Bolivar, Quito.

Etienne Walter | DIRECTOR
Mr. Walter is the honorary consul general of the Republic of Ecuador, with jurisdiction over the provinces of Alberta and British Columbia, the Northwest Territories and the Yukon Territory. His appointment was in December, 1993, with recognition by the Canadian government since March 17, 1994. He earned his diploma in hotel management and financial administration from the Ecole Hotelier de la Societe Suisse des Hoteliers in Lausanne, Switzerland, in November, 1972. Since coming to Canada in 1975, Mr. Walter worked for public and private corporations until forming his own company, Andes Trade and Investment Ltd.

Jennifer Wu | DIRECTOR
Ms. Wu has 20-years diverse experience in metals & mining financing, risk management, and business planning and development. She has a B.S.in information management from Renmin University of China and a M.B.A. from Wake Forest University. She holds the Certified Financial Analayst (CFA) designation. During an 11-year career at JP Morgan Chase and Citigroup, she rose to Senior Vice President in risk management. Since 2011, Ms. Wu has specialized in metals & mining investments by Chinese private and state-owned-enterprises and investment funds.

Graeme Robinson | ADVISORY BOARD
Mr. Robinson has over 43 years commercial experience, and has for the last 20 years has been responsible for the operation and development of a number of small cap resource companies, with projects based in Asia, North America and South America.

Technical Team

Francisco Soria Venegas, P.Geo | EXPLORATION MANAGER
Mr. Soria has 19 years experience as a geologist, specializing in Ecuador, he worked 8 years at Newmont Overseas Exploration Ltd. from 1990 - 1998 and was “Cangrejos” Project Manager (Copper-Gold Porphyry 1.6 mill oz Au) He was most notably recognized as Senior Geologist for the International Minerals Company where he held this position for 4 years since 1999-2002, being an integral part in the discovery of the Rio Blanco Deposit (0.7 mill oz Au, 5.00 mill oz Ag) and Gaby (estimated 3 mill oz Au). Francisco is a key part of the Salazar team with his vast knowledge of Gold-Copper Porphyry deposits in Ecuador. Since 2005 he leads the exploration team in Salazar Resources Limited.

Mr. Mayor is a graduate of the Royal School of Mines, University of London, England, and has over 43 years experience in senior positions in the mining industry, 37 years of which were spent with Newmont Mining Corp. Mr. Mayor’s technical experience includes mine geology, project development, and generative exploration in VHMS (volcanic-hosted massive sulphide), orogenic gold, porphyry copper and epithermal systems. Mr. Mayor’s extensive experience with Newmont includes the position of exploration manager for Ecuador from 1996 to 2001, and exploration manager with the team that discovered the Herradura mine, Sonora, Mexico, from 1986 to 1992.

Kieran Downes has over 40 years diversified experience in gold, base metals, uranium and diamond exploration. He holds a B.Sc. (Hons.) in Geology from University College Galway (1971) and a Ph.D. in Geology from Dublin University (1974). He was a Post-Doctoral Fellow at the Institute for Industrial Research & Standards, Dublin (1974-1977). He is a Registered Professional Geologist in British Columbia and Saskatchewan and president of Tristia Ventures Corp., a company providing services in mineral exploration, property valuation and geochemistry. Mr. Downes is currently President, CEO and Director of Troymet Exploration Corp.

Head Office

1305-1090 W. Georgia Street
Vancouver, BC, Canada, V6E 3V7
P: +1 604-685-9316
F: +1 604-683-1585
E: [email protected]

Ecuador Office / Investor Relations

Av. 10 de Agosto y Villalengua
N37-232, Quito - Ecuador
P: +59322469611
F: +59322469611
E: [email protected]salazarresources.com

Registrar / Transfer Agent

Registrar and Transfer Agent: Computershare Investor Services
3rd Floor - 510 Burrard Street
Vancouver, BC
Canada, V6C 3B9
T: 604-661-9400 (ext. 4215)
F: 604-661-9401


Auditors: D+H Group LLP - Chartered Accountants
10th Floor - 1333 West Broadway
Vancouver, British Columbia
Canada, V6H 4C1
T: 604-731-5881
F: 604-731-9923
E: [email protected]


Solicitors: Gowlings
2300-1055 Dunsmuir Street
P.O. Box 49122 Bentall IV
Vancouver, BC
Canada, V7X 1J1
T: 604-683-6498
F: 604-683-3558