Condor Resources CEO Chris Buncic discussed the company’s exploration plans in Peru, highlighting a copper-molybdenum porphyry discovery at Rio Bravo. Upcoming 1,500m and 2,000m drill programs are planned at Huiñac Punta and Pucamayo East. The joint venture with Teck Resources is set to invest $10 million for a 75% stake, with drilling expected to start later this year.
Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) CEO Chris Buncic provided insights on the company’s exploration activities in Peru during an interview with Proactive’s Stephen Gunnion. Notably, the company has established a copper-molybdenum porphyry discovery at Rio Bravo, which has garnered significant interest from the industry for prospective partnerships following a recent press release on February 4.
Buncic elaborated on forthcoming drilling initiatives, specifically a 1,500-meter drill program at Huiñac Punta and a 2,000-meter effort at Pucamayo East, both scheduled to commence as soon as weather permits. In contrast, work at Pucamayo Southeast is momentarily halted pending the approval of the DIA permit, prompting a strategic pivot towards fully permitted projects.
An update was provided regarding Condor’s collaboration with Teck Resources at the Cobreorco site. Teck plans to invest $10 million over six years to acquire a 75% interest in the project, with permit approvals currently in progress and drilling anticipated to begin in the latter half of the year.
Looking to the future, Buncic identified numerous catalysts that could influence the company’s trajectory, such as active drilling operations and prospective partnership arrangements.
In summary, Condor Resources is making significant strides in its exploration efforts in Peru, highlighted by confirmed discoveries and strategic partnerships. The upcoming drilling programs at Huiñac Punta and Pucamayo East are set to enhance the company’s exploration portfolio, while the collaboration with Teck Resources stands to provide substantial investment and development potential. The company is poised for a promising future in the mining sector.
Original Source: www.proactiveinvestors.com.au
