CN Condor Resources Inc

Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to
announce that the Company has received unanimous approval for the proposed drill
program from the communities surrounding the Company's 100% owned Soledad
project. The approval followed the information workshop presented to these
communities on August 23rd.


The workshop presentation is a fundamental requirement towards the social
inclusion mechanism designed by the government to allow the participation of
local communities and surface land rights owners in voicing their opinions in
the mineral exploration process and is a prerequisite to obtaining approval for
the DIA (environmental impact declaration) from the Peruvian Ministry of Energy
and Mines. The DIA is required to obtain a drill permit, which is expected
shortly. 


Soledad is a large hydro-magmatic centre located within the Central Andes
Tertiary volcanic belt, which is host to several epithermal gold deposits
including Pierina, Alto Chicama and Yanacocha. To date, a cluster of nine
quartz-tourmaline-iron oxide breccias have been discovered at Soledad within an
area measuring approximately 1500m in diameter. The breccia bodies contain gold,
silver and copper mineralization, as evidenced by surface geochemistry. Only one
of the breccias was drill-tested in 1996 with encouraging results. (See January
20, 2012 news release). In the northeast sector of the property, Condor
geologists have now identified a 650m by 450m high sulphidation epithermal
surface exposure comprising intense advanced argillic alteration with gold
values in grab samples up to 31 grams per tonne. (See July 5, 2012 news
release). 


The targets at Soledad include the cluster of nine geochemically anomalous
breccias, the newly discovered epithermal system which could host bulk tonnage
gold-silver mineralization, and possibly an underlying gold-copper bearing
intrusive that is responsible for these mineralizing systems exposed at surface.



The multi-purpose drill program at Soledad will comprise approximately 1500m to
2500m of drilling to confirm results of the 1996 drilling program in Breccia 1,
to test one or more of the other eight breccias discovered to date on the
property and possibly to test the new bulk tonnage gold-silver target. It is
anticipated that a drill rig will be mobilized shortly after receipt of the
drill permit sometime within the next 30 days.


AGM Results

Condor Resources' annual general meeting of shareholders was held August 29,
2012. At the meeting, the shareholders appointed Patrick Burns, Graham Scott,
Robert Boyd, Lyle Davis and Paul Larkin as directors for the coming year. All
other resolutions placed before the shareholders were passed by near-unanimous
margins.


Condor Resources Inc. was incorporated in 2003 by field exploration specialists
focused on the generation of precious and base metals projects in South America,
where management has extensive experience and a proven track record of
discovery. The Company's long term objective is the discovery of a major new
precious/base metals deposit and its business plan offers shareholders access to
an exciting portfolio of fifteen properties in Peru and Chile, each offering a
unique path to discovery.


ON BEHALF OF THE BOARD

Patrick J. Burns, 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 Corporation 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.

Condor Resources (TSXV:CN)
Historical Stock Chart
From Jun 2024 to Jul 2024

Condor Resources (TSXV:CN)
Historical Stock Chart
From Jul 2023 to Jul 2024