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Condor Resources plc is a UK based AIM listed exploration Company with a strong focus on the exploration and development of gold and silver resources within Central America.
The Company owns outright or can earn a majority interest in a substantial portfolio of concessions largely prospective for high-grade epithermal gold and silver in El Salvador and Nicaragua in Central America.
Condor's management team have extensive experience in mineral exploration, project development and project financing, ensuring that the Company has the best possible opportunity to achieve exploration success in these prospective areas of Central America.
Corporate Objective
Condor's primary objective is to maximise shareholder value through the discovery of significant gold deposits within prospective areas in El Salvador and Nicaragua in Central America.
The company's stated objective is to drill out a commercial JORC resource in Central America. The company is also seeking to divert its geographical risk due to the strategic Governmental revue of the mining industry El Salvador. The board is highly committed to undertaking sound corporate governance practices in the interest of the Company's shareholders and believes it will enhance the probability of achieving its corporate objectives by focusing most of the exploration efforts on projects that have a robust exploration model with excellent potential to generate early cash flow.
Condor Resources PLC has a number of projects in Central America that lay within major epithermal gold belts with the potential to host world class gold deposits.
The company has secured majority interests in a number of projects within El Salvador and Nicaragua. These have been secured either through direct application or through Farm In to earn a majority interest.
Condor's objective is to maximise shareholder value through the discovery of significant high-grade gold deposits in Central America. The company believes it will achieve this by focusing exploration efforts on projects that have a robust exploration model with excellent potential to generate early cash flow.
Nicaragua
Nicaragua, the largest country in Central America, is dominated by Mesozoic volcanic and felsic intrusive rocks in the west and Quaternary volcanic rocks in the east in addition to a belt of Palaeozoic metamorphic rocks in the north. All three geological regions host high-grade economic mineral deposits with active or historic gold mining.
Condor has secured either directly or through Farm-In Joint Ventures, several project areas located across all three major geological terranes. The projects are all within the most prospective exploration regions of Nicaragua, including the four currently active mining districts recognized for their gold and copper production; Bonanza (3 million ounces gold), Siuna-Rosita (3.8Mt at 5.6g/t gold), El Limón (2.2 million ounces gold) and La India - La Libertad (2.6Mt at 8.5g/t gold).
Condor’s Projects include:
- Segovia Project
- Matagalpa Project
- Siuna Project
- The Kuikuinita Concession
El Salvador
Located on the isthmus between North and South America, El Salvador is dominated by late Cretaceous to Quaternary volcanic rocks including rhyolite flows and domes, voluminous andesite and basalt flows, volcaniciastics and pyroclastics which host the majority of the high-grade economic mineral deposits found in El Salvador.
Condor currently holds several exploration licences within El Salvador that are considered by management to hold significant mineral potential.
Condor’s Projects include:
- La Calera
- El Pescadito
Resource and Reserve Inventory - El Salvador
The La Calera Project contains JORC Inferred Resources of over 312,000 ounces of gold and over 275,000 ounces of silver.
The Loma del Caballo Prospect of the El Pescadito Project contains JORC Inferred Resources of 116,500 ounces gold and 3.2million ounces silver.
The El Pescadito Project contains JORC Inferred Resources of over 434,000 ounces of gold and 22.1million ounces of silver.
Condor Resources plc announced on 28 January 2008, a maiden resource calculation of 39,000 ounces of gold and 1,700,000 ounces of sliver at its El Gigante Prospect.
The company's global resources now stand at some 747,000 ounces of gold and 22.3 million ounces of sliver.
| Board of Directors | |
| Mark Child | Non Executive Chairman |
| Pierre Moussa | Non Executive Director |
| Klaus Eckhof | Non Executive Director |
| Senior Management | |
| Tim Fairlie | Chief Financial Officer |
| Luc English | Country Manager Nicaragua & El Salvador |
| Jose Mario Gonzalez Granados | Administration Manager |
Company Address1 Warwick Row
|
Additional Address/Key ContactRegistered Office |
CapitalShares Issued, fully diluted: 342,061,753 |
Year End31December |
Nominated BrokersAmbrian Partners Ltd | Nominated AdvisorsAmbrian Partners Ltd |
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