US Symbol: ECNRF
VANCOUVER, March 22, 2012 /CNW/ - El Condor Minerals Inc. ("El Condor" or the "Company") announces completion of 12 diamond drill holes at its Horden Lake Project totaling approximately 2,036 meters. The drilling program was designed to generate sufficient volumes of mineralization for preliminary metallurgical test work and to expand the strike length of the copper-nickel-precious metal zone. The project manager halted drilling once sufficient sample was obtained for the metallurgical program and spring conditions began to hamper access.
Drill core is being logged and split at the winter camp. The core is transported to a core storage facility in Matagami, from which the metallurgical samples will be shipped to a preferred testing lab. The field crews have already shipped samples from 6 holes to Activation Labs for analytical work. The remaining samples are expected to be shipped within days.
The Company is currently in discussions with environmental consultants, soliciting proposals for baseline environmental work, which is expected to begin later this spring to capture 2012 runoff data.
The Company has also begun costing and planning development of an access road to the Project site, which will enable more efficient year-round access for future work.
Company CEO Leigh Freeman commented: "Despite a late start to our winter program at Horden Lake, we were able to complete drilling for our preliminary metallurgical program, and to extend drilling 250 meters along strike from the limits of the NI 43-101 compliant mineral resource. We look forward to the analytical results of the drilling in the coming weeks, and to the results from the metallurgical program later this spring."
About El Condor Minerals Inc.
El Condor Minerals Inc. is a minerals exploration company focused on the discovery and development of large precious- and base-metal mineral systems in stable political jurisdictions. Currently the Company is developing the Horden Lake Copper Project, an advanced exploration stage copper-nickel deposit in Quebec. Additional information on El Condor, its properties and its exploration and development activities is available at the Company's website: www.elcondorminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Leigh W. Freeman"
President & CEO
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
For information, please contact the Company at (604) 689-8336 (ext 103) or [email protected]