Business
Condor Acquires New Projects and Expands the Pucamayo Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 20, 2016) - Condor Resources Inc. - ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to announce the acq
About this update from Condor Resources Inc.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 20, 2016) - Condor Resources Inc. - (\"Condor\" or the \"Company\") (TSX VENTURE:CN) is pleased to announce the acquisition of mineral rights from the Peruvian government on three (3) new projects, and also the acquisition from a private group of a substantial land position adjoining the Pucamayo Project. Condor is an explorer and project generator focused exclusively on Peru. \"Our team in Lima have once again demonstrated their expertise in recognizing opportunities and acquiring quality projects on a shoestring budget. For modest expenditures we now have a substantially larger property at Pucamayo, as well as three new prospective projects that any junior would be proud of\" stated Lyle Davis, Condor's President. As a result of their in depth research and data compilation, the Company applied to the Peruvian government for the award of mineral rights on five projects in Peru, and was successful on three of these applications, resulting in the acquisition of three new projects named Humaya, Quilisane, and Huiñac Punta. Summary reports are being finalized, and will be available on our website shortly. Humaya is a 7 sq km copper prospect in south central Peru, approximately 190 km east of the city of Ica. On the property a one (1) km long area of outcrop shows intense alteration and stockwork, typical of a gold and copper porphyry system. The neighbouring concessions are held by majors. Quilisane is a 14 sq km gold/silver prospect located approximately 75 km north-west of the city of Puno, and about 12 km south-east of the Arasi gold mine of the Aruntani group. Quilisane is host to a large epithermal alteration, with anomalous geochem results for gold and pathfinder elements. There is evidence in one sector of several shallow drillholes, thought to have been completed in 2003. Huiñac Punta is a 10 sq km prospect located within the polymetallic belt of the central Andes, about 65 km south-east of the Antamina mine, and about 90 km east of the Company's Soledad project. This project hosts potential for the discovery of a silver and copper related replacement system hosted in a carbonaceous sedimentary sequence. Small scale underground mining of silver, copper, and lead occurred on the neighbouring concessions until around 1970. In parallel with their applications to acquire new proj...