06:16:58 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Condor Resources Inc
Symbol CN
Shares Issued 85,703,241
Close 2015-07-23 C$ 0.045
Market Cap C$ 3,856,646
Recent Sedar Documents

Condor Resources sells Chilean unit for $44,000 (U.S.)

2015-07-30 14:02 ET - News Release

Mr. Lyle Davis reports

CONDOR SELLS CHILEAN SUBSIDIARY, 100% FOCUS ON PERU

Condor Resources Inc. has sold its 99.99-per-cent-owned Chilean subsidiary, Minera Condor Ltda., to a private Chilean company, for gross proceeds of approximately $44,000 (U.S.).

In 2014, both the Brahma and Cristal projects in Chile were returned by the company's partners, which had been working on the projects under joint venture or other agreements. Due to the continuing cost to maintain mineral concessions in Chile, along with difficulties in attracting new partners in today's economic climate, the company made the strategic decision to focus its efforts in Peru, where it maintains an exploration office in Lima, managed by Ever Marquez.

In Peru, the company awaits a start date for the phase II drill program at the Soledad project from its partner, Mariana Resources Ltd. At the company's Ocros project, it is gaining information on a regular basis as more of the workings from the historic Eldorado mine are opened by a local small-scale miner. At the Pucamayo East project, the recently received DIA has paved the way for a drill permit application, currently under way. At the Lucero project, site of the former Shila mine, public production records are available for the years 1998 through 2004, and during this period the average reported gold and silver grades were 14 grams per tonne and 375 g/t, respectively. Discussions with a number of interested parties, including toll millers, are under way.

© 2024 Canjex Publishing Ltd. All rights reserved.