Condor Resources Inc. ("Condor" or the "Company") is pleased to provide an update on the drilling program currently underway at Condor's 100% owned Cristal project in northern Chile.
Condor has been informed by BHP Billiton that the first hole at Cristal was completed to a depth of 905m on March 27, 2013. This vertical hole was located on the southern part of the property, at an elevation of approximately 3,600m.
A second drillhole is expected to collar this week at a location approximately 5km north of the first drillhole and at an approximate elevation of 3,750m.
Under an agreement dated October 5, 2012, BHP Billiton can earn a 65% interest at the 46 sq km Cristal project with the expenditure of US$18 million over 4 years. Cristal is located along the West Fissure in northern Chile, near the border with Peru. The West Fissure is host to the majority of Chile's large porphyry copper deposits, including the Collahuasi, Ujina and Quebrada Blanca porphyry copper mines.
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.
Source: http://www.condorresources.com/