Vancouver, B.C., February 14, 2018 – Condor Resources Inc. – (“Condor” or the “Company”) (TSX.V: CN)is pleased to announce that it has received from the Peruvian Ministry of Energy and Mines an extension of the ‘Declaración de Impacto Ambiental’ (“DIA”) originally granted for the Pucamayo East project in 2015. The extension also allows for an increased number of drill pads that may be constructed under the DIA.
Pucamayo East is a high sulphidation epithermal gold-silver project, located in the Tertiary volcanic belt hosting several major epithermal gold deposits in Peru, approximately 180 km south-east of Lima, in the Department of Ica, about 56 kms south-southwest of the Corihuarmi gold-silver mine of Minera IRL Limited, and about 25 kms east of the Cerro Lindo lead-zinc-copper mine of Compañía Minera Milpo S.A.A.
The footprint of the large lithocap at Pucamayo East is over 9 sq km in area, and presents a number of attractive drill targets. Phase I drilling will probe for higher grade mineralized zones below the weakly mineralized lithocap, and will also test the breccia outcrops which have produced strongly anomalous gold and silver results. For a map of potential drill targets, see: http://www.condorresources.com/i/maps/Pucamayo-East-Zone-Drill-Targets-Map.jpg
Prior to drilling, further IP is planned in the southern and eastern part of the alteration area; previous IP was completed on the northern portion of the target area only.
The Company retained Dr. Jeff Hedenquist, an independent consultant who specializes in this geological environment, to visit the project in July 2017 and comment on the exploration potential. Dr. Hedenquist recommended initial drill testing of the gold-bearing breccia body and related structural feeders of the lithocap, as well as drill testing the stockwork veinlet zone to determine if it represents the top of a porphyry gold-copper system. The full text of Dr. Hedenquist’s report is available on our website. (http://www.condorresources.com/i/pdf/Observations-on-the-Pucamayo-Prospect-July-2017.pdf)
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
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com
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.
