CONDOR RESOURCES INC. : http://www.condorresources.com/ : QwikReport

News Releases

#August 10, 2021
Dr. Quinton Hennigh transitions to Executive role with Condor Strategic Shareholder

 Vancouver, B.C., August 10, 2021 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to congratulate Dr. Hennigh on his appointment as a full time executive Geologic and Technical Advisor for Crescat Capital LLC. ("Crescat") With Dr. Hennigh's new role at Crescat, a strategic and significant shareholder of Condor Resources, Dr. Hennigh has tendered his resignation from the Condor Board of Directors effective August 6, 2021.

In conjunction with the above, Condor has entered into a Strategic Shareholder Agreement with Crescat under which Dr. Hennigh will continue to provide geologic expertise on exploration activities of the Company's projects.

"It has been a delight to act as director of Condor over the past year," commented Quinton Hennigh. "Condor is uniquely positioned with a portfolio of exceptional Peruvian projects being advanced by a highly skilled exploration team. Crescat and I look forward to remaining supportive shareholders as Condor advances key projects, including Pucamayo's maiden drilling campaign."

Lyle Davis, Condor's President and CEO, noted "I would like to thank Dr. Hennigh for his contributions at the board level over the past year, and am delighted that he has agreed to remain involved as an advisor to Condor via Crescat. Quinton's knowledge and experience has been of great benefit to the Company and its shareholders, and will continue to be in his new role".

Crescat is a global macro asset management firm headquartered in Denver, Colo. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Crescat's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives, and includes global macro, long/short, large cap and precious metals funds.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's 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.
 
#January 07, 2021
Condor sells Lucero Project

 Vancouver, B.C., January 7, 2021 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to announce that it has concluded an agreement with Calipuy Resources Inc. ("Calipuy") whereby Calipuy will purchase Condor's wholly owned Peruvian subsidiary, Minas Lucero del Sur S.A.C. ("MLDS"). MLDS is a sole purpose company, and the owner of the Lucero project located in the Arequipa Department of Peru.

Consideration is US$3.5 million, payable over five years. Should the price of gold be over US$2,500/ounce at the time of the final payment, total consideration will increase to US$4.0 million; and should the price of gold be over $3,000/ounce at the time of the final payment, the total consideration will increase to US$6.0 million. Calipuy have the option to compress the payment schedule to three years, and in such event, the total consideration will be US$3.0 million. Condor has received the initial payment of US$90,000.

Condor has maintained certain back in rights to participate in future Calipuy financings. Should Calipuy be completing a financing, Condor have the option to participate in the financing at a 20% discount to the financing price, by converting part or all of any outstanding payment due from Calipuy. Condor's right to participate in a Calipuy financing is limited to 50% of the financing.

Sandstorm Gold Ltd. hold a 0.5% NSR on the Lucero project, and Sandstorm, Condor, Calipuy and MLDS have executed an NSR assignment agreement with respect to Sandstorm's NSR, with Calipuy assuming the NSR obligations to Sandstorm.

Commented Lyle Davis, Condor President, "Minas Buenaventura operated 3 underground mines at Lucero until circa 2005, several years prior to Condor acquiring the project. Condor leased the project to a Peruvian based mining company in 2015, and when the lease was terminated in late 2019, we made the strategic decision to monetize the project, and concentrate our efforts on four key exploration projects: Pucamayo, Huinac Punta, Cobreorco, and Andrea. Calipuy management have brought two mines into production, and we are confident they will be successful with a re-start at Lucero."

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's 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.
 
#November 27, 2020
Condor and Chakana Amend Soledad Agreement

 Vancouver, B.C., November 27, 2020 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to announce that Condor and Chakana Copper Corp. ("Chakana") have agreed to a four month extension to the April 2017 agreement between their respective Peruvian subsidiaries.

Under the original agreement, the final payment of US$4.625m by Chakana to Condor is due December 23, 2021. By mutual agreement, US$200,000 will be due by December 23, 2021, with the balance of US$4.425m due on or before April 23, 2022. Interim payments of US$150,000 (due December 2020) and US$200,000 (due June 2021) remain unchanged. In addition, Chakana has agreed that COVID-19 will not constitute a force majeure condition under the April 2017 agreement.

Commented Lyle Davis, Condor President, "Our Soledad concessions are part of a larger mineralized complex, and it is important that Chakana complete their assessment on Condor's concessions as well as the surrounding concessions. We remain confident that Chakana's work will result in a decision to complete the 100% purchase of our concessions within the next seventeen months." If Chakana complete the purchase of Condor's Soledad concessions, Condor will retain a 1% NSR on these concessions, and on a two kilometer area of influence. Condor is a significant shareholder of Chakana.

As reported in our September 30, 2020 news release, Chakana resumed drilling in August on the concessions immediately south of, and contiguous to Condor's concessions, and within the area of influence of Condor's agreement with Chakana. Since resumption of drilling Chakana has released results from the Paloma East and Paloma West breccia complexes, and is now drilling on the Huancarama breccia.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's 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.
 
#November 23, 2020
Condor Resources - Updates for Huiñac Punta and Cobreorco Projects

 Vancouver, B.C., November 23, 2020 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to provide updates on the Huiñac Punta and Cobreorco projects.

Huiñac Punta - A detailed ground geophysical survey has been completed at Huiñac Punta, with field work concluding late last week. An Induced Polarization ("IP") survey consisted of approximately 16 line kilometers, comprised of 8 lines, each 2km in length, line spacing at 100m, with polo-dipole spacing of 50m. The IP survey was designed to assist in defining the geometry of a postulated carbonate replacement system ("CRD") system, and to compliment data obtained from a 35 line-km magnetic survey conducted on the project in August. The primary objective of the combined geophysics programs is to prioritize targets for a maiden diamond drill program, scheduled for the first half of 2021. The Company received a Declaración de Impacto Ambiental ("D.I.A.") for this project in July and has filed its Initiation of Activities.

Cobreorco - In early November, Condor applied to INGEMMET (a branch of the Peruvian Ministry Energy & Mines) for an additional 30 sq km of concessions adjoining its core 100% owned concessions. The Company was successful in securing an additional 4 sq km of requested area contiguous to the existing property. In addition, the Company added two other areas, each one square kilometer in size, both of which are separate from each other and from the existing core concessions. The remaining 24 sq km of concessions applied for were subject to applications by others, and ownership will be determined by a sealed bid auction conducted by INGEMMET at some future undetermined date. Preliminary discussions have commenced with the local community. Community acceptance to Condor's proposed work program will be the first step in preparing our D.I.A. (drill permit) application. As noted in the Company's September 30, 2020 news release, a magnetic survey suggests the presence of two potential mineralized centers that correlate well with exposed surface gold/copper porphyry and skarn outcrops at Cobreorco.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. The Company's objective in advancing its portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's 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.
 
#September 30, 2020
Condor Resources Project Updates

 Vancouver, B.C., September 30, 2020 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to provide updates on project activity amid the ongoing COVID-19 lockdowns in many locations throughout Peru. Condor appreciates that Peru has been hit hard by the pandemic, and the health and safety of our employees and the host communities takes priority.

Pucamayo - The project is located in the Ica Department which is subject to a state of emergency until at least October 31st. Over the past few months, Condor has continued to assist the local Liscay community with contributions of disinfectant and fumigation systems as well as food packages for each family. The Company has also supplied diesel fuel for road improvements and site preparations for constructing a new community centre. To better understand local surface owner rights, Condor recently engaged a firm specializing in researching surface rights histories and titles viz-a-viz community surface rights and ownership. A report is expected to be completed once the state of emergency is lifted and access is allowed to all required government offices. Condor expects this report to be critical in finalizing access agreement(s) in preparation for the commencement of its maiden Pucamayo drill program, already fully permitted including water permits that have been renewed for two years.

Cobreorco - Condor has completed a detailed magnetic survey at Cobreorco using an unmanned aerial vehicle ('UAV'), equipped with a specially designed magnetometer. The survey covered an area of approximately 5 sq km at a 100 m line spacing for a total of 68 line kms. Data from this survey has been processed and Condor is reviewing reports from Deep Sounding, its geophysical contractor. Initial review of magnetic data suggests presence of two potential intrusive systems that correlate well with exposed surface gold/copper porphyry and skarn outcrops. Interpretations will allow design of a targeted diamond drill program. Once designed, Condor will prepare a D.I.A. application to fast-track Cobreorco toward drilling.

Huinac Punta - In August, Condor completed a detailed magnetic survey at Huinac Punta using its UAV described above. This survey covered the area of interest and vicinity with 150 m line spacing for a total of 35 line kms. Data is being processed and a report from the geophysical contractor is awaited. Results from this survey will form part of the basis for developing a maiden targeted diamond drilling at Huinac Punta. IP geophysical survey is also planned at Huiñac Punta but must await for lock-downs to be lifted in this area. The Company received a D.I.A. for this project in July and is currently preparing to file an Initiation of Activities for this project.

Soledad -- Chakana Copper resumed drilling at Soledad in August. Chakana's current drill program is taking place on the concessions immediately south, and contiguous to Condor's concessions, but within the area of influence of Condor's agreement with Chakana.

Condor's annual general meeting of shareholders will be held October 22nd. With the emergence of COVID-19, and in light of limits on larger gatherings and our concern for the health and safety of our employees and shareholders, management of the Company has decided to hold this year's Meeting as a virtual only shareholder meeting with participation by way of telephone conference.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's 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.
 

Copyright © 2021 by Condor Resources Inc.   All rights reserved worldwide.
For more information, send questions and comments to
This page was created on Sat Sep 25, 2021 at 11:21:14 AM Pacific Time.