Condor sells subsidiary in Chile

Condor Resources Inc. recently announced that the company has sold its Chile-based subsidiary, Minera Condor Limitada, to another private company in Chile.

Condor had owned 99.99 percent of its subsidiary, which sold for $44,000.

In 2014, the Cristal and the Brahma projects in Chile returned to Condor’s partners, which had been operating on the projects under joint ventures or other agreements. Condor chose to sell its subsidiary because of the ongoing cost of maintaining mineral concessions based in Chile and difficulties in finding new partners with the economic climate.

Now, Condor intends to focus its company’s efforts solely on Peru, where its exploration office in Lima is under the management of Ever Marquez.

Condor’s other projects are moving forward. Condor will wait for a Phase II drill program start date from its partner, Mariana Resource Ltd., for the Soledad project. Condor’s Ocros project is gathering information regularly as the company furthers its operations at the historic Eldorado mine. The company’s Pucamayo East project recently applied for a drill permit application, and its Lucero project has made its production records from 1998 to 2004 available to the public.

The main purpose of the company is to discover major new base metals or precious metals deposits. All project development and acquisition is under the management of the company’s exploration team in Lima.