Vancouver, B.C., June 18, 2007 – Condor Resources Inc. – (“Condor” or the “Company”) is pleased to announce the acquisition of the La Libertad porphyry copper prospect in Peru, in a sealed bid mining auction against several major competitors.
The 2 sq km property is situated 280 km north of Lima, and covers the core of an intensely-altered intrusive porphyry copper system in the Cordillera Occidental de los Andes copper belt. Fracture zones within the system exhibit very high-grade secondary copper mineralization in the form of chalcocite, malachite and chrysocolla.
La Libertad was originally owned by BHP but was abandoned by them when they left Peru in 2006. It appears that La Libertad has no past drilling history, although small-scale mining of Ag-Pb-Zn veins and structures peripheral to the large alteration system was carried out in the 1980’s.
Based on the size of the porphyry copper system within the property, the intensity of alteration, the strongly-developed quartz-limonite stockwork vein system and the presence of high grade secondary copper enrichment, Condor geologists believe that the La Libertad prospect exhibits potential to host a significant porphyry copper deposit. Preliminary observations suggest similar geology to the La Granja deposit located further north in the same copper belt, with reserves of 3.2 billion tones grading 0.62%Cu.
Condor will be sending a field crew to the La Libertad prospect soon, to commence an initial mapping and sampling program.
ON BEHALF OF THE BOARD
“Pat Burns”
President
FOR FURTHER INFORMATION PLEASE CONTACT:
Bernie Kennedy: 1-877-489-4440
Saf Dhillon: 604-484-2015
email: info@condorresources.com
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. Dr. Richard Culbert, P.Eng., is the Qualified Person for the Company as required by NI 43-101 and has reviewed the contents of this news release.
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