sur Condor Resources Inc. (CVE:CN)
Condor Resources Updates on Lucero Agreement and Huiñac Punta Drilling
Condor Resources Inc. announced the signing of a fifth amendment to its agreement with Element79 Gold Corp. regarding the Lucero project. The amendment extends the payment deadline for the US$1,000,000 closing balance initially due on August 25, 2026. Condor received a non-refundable deposit of US$100,000, with US$200,000 payable by November 16, 2026, and US$800,000 by February 12, 2027.
The company also provided an update on its Huiñac Punta project. Drilling is postponed to the second quarter of 2027 due to weather conditions in Peru. This program, set to test beneath historical Spanish workings, will be funded by the expected payments from Element79. Huiñac Punta holds potential for significant silver-copper-zinc-lead deposits.
Additionally, Condor has granted 3,450,000 stock options to its team, supporting future exploration efforts. Condor's ongoing commitment to its projects in Peru reflects its ambition to advance high-quality exploration projects.
R. E.
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