Condor Resources Inc. has secured environmental approval for the Pucamayo Sur target area at its flagship Pucamayo gold-silver project in central Peru.

The Peruvian Ministry of Energy and Mines, through its Directorate General of Mining Environmental Affairs, approved the Declaración de Impacto Ambiental, providing a five-year term to complete exploration activities. The approved environmental instrument covers 40 drill pads with multiple drillholes permitted from each pad, clearing the regulatory path for a planned phased exploration drill program of up to 6,000 metres at Pucamayo Sur.

The upcoming campaign follows a maiden drill program completed at Pucamayo East in late 2023, which comprised 2,353 metres across nine drillholes. That initial work confirmed a high-to-intermediate sulphidation system with gold, silver, copper, lead and zinc mineralization hosted in hydrothermal breccia ledges. Pucamayo Sur represents the first opportunity to test a second hydro-magmatic centre identified by an updated airborne magnetics survey.

This is the permit that unlocks the larger half of Pucamayo. Our team in Lima has carried this application through two years of technical review, competing surface land claims and administrative challenges, and has come out the other side with a five-year permit and 40 pads. The Lima team, supported by our technical and legal advisors, deserve enormous credit for navigating the dynamic criteria successfully. Pucamayo Sur is a project our peers already regard as one of the more compelling undrilled intermediate-to-high sulphidation epithermal precious metals systems within the Tertiary volcanic belt of the South Central Andes and Peru.

— Chris Buncic, President and CEO

The community has been very supportive of our exploration efforts throughout, including the expansion of our drill plans to cover Pucamayo Sur. With the DIA in hand, our focus turns to gaining the final Initiation of Activities permit, crystalizing the drill plan and preparing the site for a drill program.

— Ever Marquez, Vice President Exploration

Commencement and scope of the planned drilling remain subject to the receipt of the final Initiation of Activities permit, available financing, weather conditions and completion of site preparation.

Read the full announcement: Condor Receives Environmental Permit (DIA) for Drilling at Flagship Pucamayo Project