Chris Buncic, CEO of Condor Resources Inc., outlined the company’s exploration strategy in Peru, confirming a copper-molybdenum discovery at Rio Bravo and detailing plans for upcoming drill programs. The company is experiencing heightened industry interest and is advancing joint ventures, particularly with Teck Resources at Cobreorco, all while navigating necessary permit approvals for continued operations.
Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) CEO, Chris Buncic, provided an overview of the company’s exploration initiatives in Peru during a recent interview with Proactive’s Stephen Gunnion. He announced that a significant copper-molybdenum porphyry discovery has been confirmed at Rio Bravo, as detailed in the February 4 press release, resulting in heightened interest from industry stakeholders regarding potential partnerships among various parties.
Plans for additional drilling programs are underway, with a 1,500-meter exploration campaign at Huiñac Punta and a 2,000-meter initiative at Pucamayo East. These programs are expected to commence once weather conditions improve. Currently, operations at Pucamayo Southeast are on hold awaiting the necessary DIA permit, redirecting focus to other fully permitted projects in the interim.
Furthermore, Buncic updated stakeholders on the joint venture with Teck Resources at Cobreorco, where Teck is set to invest $10 million over six years in exchange for a 75% ownership stake. Permit approvals are progressing, with drilling anticipated to start in the second half of the year.
Looking forward, Buncic is optimistic, noting several catalysts on the horizon, including active drilling operations and potential partnership agreements that could boost the company’s growth.
In summary, Condor Resources is poised for significant developments in its Peru exploration projects, particularly at sites like Rio Bravo, Huiñac Punta, and Pucamayo East. The pending permits and joint venture with Teck Resources present promising opportunities for growth and investor interest in the coming years. The proactive approach displayed by CEO Chris Buncic indicates a strong commitment to advancing the company’s ventures and capitalizing on industry opportunities.
Original Source: www.proactiveinvestors.com.au
