Condor Resources CEO Chris Buncic provided a comprehensive update on exploration activities in Peru, confirming significant copper-molybdenum discoveries and outlining planned drilling programs. The joint venture with Teck Resources is set to proceed, marking an optimistic outlook for the company’s growth and potential partnerships.
Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) recently convened an update by CEO Chris Buncic regarding the company’s exploration initiatives in Peru. The discussion highlighted significant developments at Rio Bravo, Huiñac Punta, and Pucamayo East. Notably, a copper-molybdenum porphyry discovery at Rio Bravo was confirmed, stirring heightened industry interest in potential partnerships as per the recent press release dated February 4.
Buncic outlined the company’s forthcoming drilling plans which include a 1,500-meter program at Huiñac Punta and a 2,000-meter program at Pucamayo East. These operations are contingent upon improvements in weather conditions. Additionally, Buncic mentioned a temporary redirection of focus to fully permitted projects due to the pending DIA permit for Pucamayo Southeast.
Furthermore, an update on the joint venture with Teck Resources at Cobreorco was presented. Teck is committed to a $10 million investment over six years for a 75% ownership stake, with permit approvals moving forward and drilling anticipated in the latter half of the year. Buncic remains optimistic about upcoming catalysts, including proactive drilling campaigns and potential partnership opportunities.
In summary, Condor Resources is making substantial strides in its exploration efforts in Peru, highlighted by discoveries and strategic drilling initiatives. The collaboration with Teck Resources and the planned drilling programs at key sites underscore the company’s commitment to exploring valuable mineral resources. With weather improvements and necessary permits in motion, the firm is poised for a productive exploration year ahead.
Original Source: www.proactiveinvestors.com
