Condor Resources Inc.: Drilling Commenced at Cristal Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/05/13 -- Condor
Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) is
pleased to announce that drilling commenced at the Cristal project in
northern Chile on the weekend of March 2, 2013.
Condor was advised by BHP Billiton on Monday March 4th that drilling
of the first hole at Cristal had reached a depth of over 180m, of a
targeted depth of 900m. As reported February 4, 2013, BHP Billiton
conducted an airborne geophysical survey in late 2012 that
encompassed Condor's 46 sq km Cristal project in northern Chile.
Under an agreement dated October 5, 2012, BHP Billiton can earn a 65%
interest at Cristal with the expenditure of US$18 million over 4
This area of the Chilean porphyry copper belt has been an area of
increased activity recently. Anglo American is the holder of record
on the concessions immediately south of Cristal, and were reported to
be drilling there in late 2012.
Condor Resources Inc. was incorporated in 2003 by field exploration
specialists focused on the generation of precious and base metals
projects in South America, where management has extensive experience
and a proven track record of discovery. The Company's long term
objective is the discovery of a major new precious/base metals
deposit and its business plan offers shareholders access to an
exciting portfolio of sixteen properties in Peru and Chile, each
offering a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns, President & Chief Executive Officer
Cautionary Statement Regarding Forward-Looking Information: All
statements, trend analysis and other information contained in this
press release relative to markets about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of words
such as "seek", "anticipate", "believe", "plan", "estimate", "expect"
and "intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those
contained in the forward-looking statements. Forward-looking
statements are based on estimates and opinions of management at the
date the statements are made. The Corporation does not undertake any
obligation to update forward-looking statements even if circumstances
or management's estimates or opinions should change. Investors should
not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
Condor Resources Inc.
Patrick J. Burns
President & Chief Executive Officer
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