VANCOUVER, Feb. 1 -- El Condor Minerals Inc. ("El Condor" or the "Company") is pleased to announce the initiation of its 2012 work program at its advanced exploration stage copper project at Horden Lake, Quebec.
Horden Lake, Quebec - Metallurgical Sampling and Resource Expansion Program
The Company is pleased to announce the launch of Phase 1 of its multi-phase 2012 work program. Phase 1 consists of drilling a minimum of 3,000 meters to collect metallurgical samples for the planned engineering and optimization studies and to expand the current resource at Horden Lake. Similar to the 2008 drill program on which the Company's NI 43-101 resource report is based, much of the current drilling is designed to test and confirm additional resource data based on historic INCO & Noranda holes on the property. Drilling is to commence in February and, based on early successes, the drill program may be expanded.
The Company has contracted with Caracle Creek International Consulting Inc. of Sudbury, Ontario for Project Management of the drill program, including camp and program logistics, QA/QC of drill core assays and geophysical and database reviews. Forage Perfection Inc. of Notre-Dame-du-Nord, Quebec, has been contracted for drilling services. Both contractors have extensive experience drilling in the northern Quebec area. Caracle Creek is an international consultancy supporting the mining industy and more importantly has been responsible for the two most recent NI 43-101 reports on the Horden Lake Project. Phase 1 of the program is expected to be completed in April.
Once drilling is complete, Phases 2 & 3 of the work program will consist of metallurgical testing, a revised resource calculation and a Preliminary Economic Assessment.
On the Horden Lake Copper Project, Leigh Freeman, El Condor CEO commented: "We are going to work on engineering studies, drilling, and upgrading the historical resource in the coming months with the goal of moving Horden Lake from an advanced exploration stage to a near-term development stage project in 2012."