Peru Mining

[Lone Clone]

Drilling commenced at Condor’s Ocros Project, Ancash, Peru

https://finance.yahoo.com/news/drilling-commenced-condor-ocros-project-150408432.html


GlobeNewswire•July 5, 2017

VANCOUVER, British Columbia, July 05, 2017 (GLOBE NEWSWIRE) -- Condor Resources Inc. (“Condor” or the “Company”) (CN.V) is pleased to announce that Compañia Minera Virgen de la Merced S.A.C. ("Merced") has commenced drilling operations at the Ocros project.


Further to Company’s news release of May 17, 2017, Merced has the option to earn a 70% interest in Ocros over 4 years by completing 10,000m of drilling and making cash payments totaling US$550,000. Merced is a private Peruvian company, and the owner of the mineral concessions adjacent and to the south of Ocros, where Merced has a small mining operation.

The objective of the drill program is to test the continuity of the copper porphyry mineralization over an approximate area of 1.5 square kilometres centered around the adits of the historic Eldorado mine, where the mineralization has been confirmed by systematic sampling on two levels, and over 325m on each level (refer to our July 7, 2015 news release). Merced are required to complete a minimum 2,000m of drilling over the next year.

Condor is an explorer and project generator focused exclusively on Peru, and our objective is the discovery of a major new precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

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.