|March 05, 2013|
Drilling Commenced at Cristal Project
|Vancouver, B.C., March 5, 2013 - Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to announce that drilling commenced at the Cristal project in northern Chile on the weekend of March 2, 2013.|
Condor was advised by BHP Billiton on Monday March 4th that drilling of the first hole at Cristal had reached a depth of over 180m, of a targeted depth of 900m. As reported February 4, 2013, BHP Billiton conducted an airborne geophysical survey in late 2012 that encompassed Condor's 46 sq km Cristal project in northern Chile. Under an agreement dated October 5, 2012, BHP Billiton can earn a 65% interest at Cristal with the expenditure of US$18 million over 4 years.
This area of the Chilean porphyry copper belt has been an area of increased activity recently. Anglo American is the holder of record on the concessions immediately south of Cristal, and were reported to be drilling there in late 2012.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of precious and base metals projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long term objective is the discovery of a major new precious/base metals deposit and its business plan offers shareholders access to an exciting portfolio of sixteen properties in Peru and Chile, each offering a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at: firstname.lastname@example.org
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 Corporation 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.
You can view the Next News Releases item: Mon Apr 22, 2013, Drilling Update on the Cristal Project in Northern Chile
You can view the Previous News Releases item: Mon Feb 4, 2013, Exploration Update
You can return to the main News Releases page, or press the Back button on your browser.