Condor gets environmental permit for Ocros project in Peru

21 August 2016 (Last Updated August 21st, 2016 18:30)

Condor Resources has been granted Declaración de Impacto Ambiental (DIA) from the Peruvian Ministry of Energy and Mines for the Ocros project in Ancash, Peru.

Condor Resources has been granted Declaración de Impacto Ambiental (DIA) from the Peruvian Ministry of Energy and Mines for the Ocros project in Ancash, Peru.

The DIA (primary environmental permit) allows for up to 24 drill holes.

Condor Resources president and CEO Lyle Davis said: "We would like to acknowledge the excellent work by Casapalca since concluding the Ocros earn-in agreement just four months ago.

“Subsequently, the local community approved a long-term exploration and exploitation agreement, and that community approval has led to the timely issuance of the DIA. Casapalca continue to impress, as a company that gets things done."

"The local community approved a long-term exploration and exploitation agreement."

In April, Condor concluded an agreement with Compañia Minera Casapalca on the Ocros project.

Under the deal, Casapalca may earn a 51% interest in the project by completing 6,000m of diamond drilling and making payments of $250,000 over the next three years.

Condor owns 85% of the Ocros copper project, while the Eldorado mine in the 1950s exploited a high-grade copper sulphide vein.

Casapalca can further increase its interest at Ocros to 70% by completing an additional 4,000m of diamond drilling and by paying $300,000.

The company’s principal asset is the Americana mine in the Casapalca mining district, which is 100km east of Lima.