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Condor Resources acquires 3 new projects, expands Pucamayo project


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Condor Resources acquires 3 new projects, expands Pucamayo project

Condor Resources Inc.said July 20 that it has acquired mineral rights over three new projects from thePeruvian government and has expanded its Pucamayo gold-silver project in the country through the acquisitionof a substantial land position adjoining the project.

The company initially applied for the award of mineral rights over five projects,of which three were granted — the Humaya, Quilisane and Huinac Punta projects.

Humaya is a 7-square-kilometer copper prospect, Quilisane is a 14-square-kilometergold-silver prospect, and Huinac Punta is a 10-square-kilometer prospect withinthe polymetallic belt of the central Andes.

Furthermore, Condor has also arranged to acquire additional mineral rightsover concessions spanning 94 square kilometers and contiguous with its Pucamayoproject from a third party for an undisclosed amount.

The company intends to focus on its enlarged Pucamayo project and newly acquiredPeruvian assets, and has decided to terminate its option to acquire an 85% interestin Condor de Orogold project, which is also in Peru.