VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2013) - 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 years.
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
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