Condor Resources, led by CEO Chris Buncic, is progressing with its exploration plans in Peru, particularly at Rio Bravo, Huiñac Punta, and Pucamayo East. A copper-molybdenum porphyry discovery at Rio Bravo has attracted industry interest. Drilling programs of 1,500 meters and 2,000 meters are anticipated to launch soon, alongside ongoing joint ventures with Teck Resources.
Chris Buncic, the CEO of Condor Resources Inc. (TSX-V: CN, OTC: CNRIF), recently provided insights on the company’s exploration initiatives in Peru during an interview with Proactive’s Stephen Gunnion. He noted significant progress at three key sites: Rio Bravo, Huiñac Punta, and Pucamayo East. The notable copper-molybdenum porphyry discovery at Rio Bravo, confirmed through a February 4 press release, has generated heightened interest in possible partnerships from the industry.
The CEO outlined upcoming drill programs, including a planned 1,500-meter program at Huiñac Punta and a 2,000-meter program at Pucamayo East, set to commence once suitable weather is achieved. Additionally, progress at Pucamayo Southeast is delayed due to the pending DIA permit, prompting a temporary redirection to projects that are fully permitted.
Buncic also addressed the joint venture with Teck Resources at Cobreorco, where Teck is poised to invest $10 million over six years for a majority stake of 75%. Permit approvals are actively being pursued, with drilling anticipated to start in the latter half of the year. The CEO expressed optimism regarding various upcoming catalysts, such as active drilling and potential partnership opportunities.
In conclusion, Condor Resources is advancing its exploration plans in Peru, focusing on several promising sites. With confirmed discoveries and significant drilling programs underway, the company is positioned for prospective partnerships and growth, highlighted by its collaboration with Teck Resources. These initiatives are expected to drive future developments in the mining sector.
Original Source: www.proactiveinvestors.com
