Drilling Resumes at Condor de Oro Project, Northern Peru
June 27 2014 - 8:00AM
Marketwired
Drilling Resumes at Condor de Oro Project, Northern Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 27, 2014) -
Condor Resources Inc. - ("Condor" or the "Company")
(TSX-VENTURE:CN) is pleased to announce that Mariana Resources Ltd.
("Mariana") has commenced hole CDOYE-06 at the the Condor de Oro
copper-gold-molybdenum project in Northern Peru.
The prior five holes (1,641m) were completed in late 2013, and
were summarized in Condor's news releases dated November 20th,
December 20th, and January 28th. The widely spaced, 'scout
drilling' program was designed to provide a better understanding of
the four square kilometre target area, which hosts an anomalous
gold-copper system at surface related to porphyritic intrusions.
Highlights from this earlier drilling included 102.8m of 0.19%
copper hosted by intense potassic altered andesite volcanics.
Mariana completed further geochemical sampling on the project in
January, and together with the results from the first five holes,
determined the drill-hole locations for the current program, which
will comprise a minimum of 3 holes. These holes are targeting the
core zone and other priority targets of potentially higher grade
mineralization within the large, multiphase intrusive system.
The Condor de Oro concessions are owned by Exploraciones Aguila
Dorada S.A.C. ("EAD"). Condor has an irrevocable option to acquire
85% of the issued shares of EAD, and in turn, Condor has granted
Mariana an option to acquire 60% of Condor's shareholding interest,
being an overall 51% interest. Mariana is assisting EAD with the
drill program under the terms of the option agreement with
Condor.
Condor currently has three of its properties under active
exploration by third parties, and looks forward to a steady flow of
results from these programs. In addition, the Company is actively
seeking partners on its other projects, and is reviewing new
opportunities identified by its Lima based exploration team.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer
Dr. Richard Culbert is the Qualified Person under NI 43-101 who
has approved the technical content of this news release.
Cautionary Statement Regarding Forward-Looking Information: All
statements, trend analysis and other information contained in this
press release relative to markets about anticipated future events
or results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. Forward-looking statements are subject to
business and economic risks and uncertainties and other factors
that could cause actual results of operations to differ materially
from those contained in the forward-looking statements.
Forward-looking statements are based on estimates and opinions of
management at the date the statements are made. The Company does
not undertake any obligation to update forward-looking statements
even if circumstances or management's estimates or opinions should
change. Investors should not place undue reliance on
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Condor Resources
Inc.1-866-642-5707info@condorresources.comwww.condorresources.com
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