sur Condor Resources Inc. (CVE:CN)
Condor Resources Secures DIA Approval for Cobreorco Project
Condor Resources Inc. has announced the approval of the Declaración de Impacto Ambiental (DIA) for its Cobreorco project in Peru. This key milestone enables the project, targeting gold-copper skarn and porphyry-style mineralization, to progress further in the permitting process. Managed by a subsidiary of Teck Resources Limited, the development promises potential benefits for Condor.
In December 2023, Condor signed an option and joint venture agreement with Teck. Teck can earn a 55% interest in Cobreorco by spending US$4 million on exploration over three years and paying US$500,000 in cash. Teck could increase its stake to 75% with an additional US$6 million in exploration expenditure and further payments.
Chris Buncic, Condor's CEO, expressed satisfaction with reaching this milestone, highlighting the project's potential to deliver significant shareholder value.
R. P.
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