Condor Resources Inc. - (Condor or the Company) (TSX.V: CN) is pleased to announce that a second diamond drill rig has been mobilized to its San Martin project in southern Peru, and is currently nearing completion of hole SMA-007. The initial rig completed holes SMA-001 through SMA-006, and SMA-008, and commenced drilling of SMA-009 on March 24th. As of March 29th, some 1,661 meters have been completed on the Phase I drill program, the first conducted at San Martin. Encouraging results from the first 3 holes at San Martin were reported in news releases issued on January 18th and February 16th, 2012, and included 15m of 68 g/t Ag at surface.
Results for the remaining holes will be reported in batches of a minimum three holes.
Patrick J. Burns, Condor's President and CEO, states that We are pleased to secure a second diamond drill rig. The progress of the initial drill has been slower than anticipated, and reverse circulation rigs are not available. Now that both drills are turning, we expect to complete our initial drill program in April.
The approximate 2,000m Phase I drill program at San Martin is targeting Cretaceous-aged quartzites that have been hydrothermally brecciated and strongly silicified, and are exposed on surface over an area approximately 700m long by 100m wide, and exposed over a 150m vertical extent. The San Martin project is situated in the Orcopampa--Caylloma precious metals belt in the Arequipa district of southern Peru, approximately 7 km southeast of the Orcopampa gold mine.
Following completion of the Phase I drill program at San Martin, drilling will commence at Condor's 100% owned Soledad Au-Ag-Cu property located 30 kilometres southwest of the town of Huaraz in north central Peru. Val D'Or Geophysics of Peru is presently conducting a 20 line-kilometer ground magnetic and IP geophysical survey on the Soledad property.
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 fifteen properties in Peru and Chile, each offering a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact Timea Carlsen at 1-778-998-2473, or by email at: firstname.lastname@example.org
Dr. Richard Culbert is the Qualified Person under NI 43-101 who has approved the technical content of this news release.
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