Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) CEO Chris Buncic told shareholders he expects 2025 to be a “defining year” for the junior resource company as it advances work on its Peruvian assets.
The company is advancing two key precious metals projects in Peru: Pucamayo and Huinac Punta.
Both projects are anticipated to progress significantly this year, with the potential to attract major mining companies.
The Pucamayo project, spanning 8,500 hectares in Ica, is awaiting final approval from Peruvian regulators for an environmental application, a key step towards initiating a 6,000-meter exploration drilling program in phases.
At Huinac Punta, the company has completed the necessary Consulta Previa process and received the Initiation of Activities permit. An initial 2,000-meter exploration drilling program is scheduled to commence after the rainy season, targeting a one-kilometer structure with high-grade silver and base metal samples.
Buncic told investors that “significant progress is anticipated on both projects this year.”
Additionally, Condor's Cobreorco project is advancing through the permitting process under a joint venture with Teck Resources Limited. Teck has the option to earn a 55% interest by investing US$4 million in exploration over three years.
“Condor stands to benefit significantly if Teck's exploration succeeds in discovering the anticipated large gold-copper skarn and porphyry type project together with the terms of our option and joint venture agreement,” Buncic said.
On the corporate front, Condor is exploring opportunities to divest non-core assets, aiming to generate non-dilutive capital to support its primary projects. The company has regained control of the Soledad project and is in discussions with potential buyers.
Similarly, the Rio Bravo project has attracted interest following the acquisition of a historical dataset confirming significant porphyry copper and molybdenum mineralization.