posted on Oct 29, 2007 03:41AM
Edit this title from the Fast Facts Section
If you have not done your DD yet. Here is a start.
|October 19, 2007|
Ocros Drilling to Commence in Early November
Vancouver, B.C., October 19, 2007 -- Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to announce that a Phase I diamond drill program, comprising 8 holes totaling approximately 3000 m, will commence on its Ocros copper project located 180 km NW of Lima, Peru in early November. Drill hole locations are being finalized based on field work completed earlier this month. No prior drilling has been conducted on the Ocros property.
The Ocros property encompasses a large structurally-controlled porphyry copper style system covering an area of approximately 9 sq km, within which occurs a central, NW-trending, highly anomalous Cu-Au-Ag-Pb-Zn core measuring roughly 2 km by 1 km with a minimal 700 metres of vertical relief. The topographic base of this porphyry copper occurrence is characterized by numerous high grade, 50 cm to 1 m wide, Cu-Au-Ag-Pb-Zn veins, exploited by local miners from 1953 to the early 1960's. Underground workings on some of these vein deposits extend over lengths of up to 500 m and on several levels. Condor management believes that Ocros exhibits significant potential to host an "elephant-sized" copper and precious metals deposit.
Condor has the right to earn a 75% interest in this property by paying the vendor US$875,000 (50% cash and 50% in shares) and incurring exploration expenditures of not less than US$4 million over a 5 year period. Condor also retains a right of first refusal on the vendor's 25% interest.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of copper and gold projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long-term business plan offers shareholders access to a growing portfolio of properties, comprising six 100% owned projects in Chile, two projects in Argentina and three in Peru, each providing a unique path to discovery.
Patrick J. Burns,
President and Chief Executive Officer
For further information please contact:
Bernie Kennedy: 1-877-489-4440
Saf Dhillon: 604-484-2015
email: [email protected]