Condor Resources Receives IA Permit for Cobreorco; Teck Perú to Initiate 3,500 Metre Drill Program
Condor Resources has received the Initiation of Activities permit for its Cobreorco project in Apurímac, Peru, allowing exploration drilling to commence. Teck Perú will begin a 3,500-metre diamond drilling program in June 2026, focusing on copper-gold targets. The project has seen extensive preparatory work in 2025, including community engagement and geological surveys. Teck Perú can earn up to 75% interest in Cobreorco through staged investments.
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Condor Resources Inc. has received the Initiation of Activities permit for its Cobreorco copper-gold project in Apurímac, Peru, enabling exploration drilling to start. Teck Perú, a subsidiary of Teck Resources, will initiate a 3,500-metre diamond drilling program in June 2026, targeting defined copper-gold skarn and porphyry formations.
In 2025, Teck Perú completed significant preparatory work, including community consultations, geological surveys, and received necessary environmental approvals. Under the agreement, Teck Perú may earn up to 75% interest in Cobreorco through exploration expenditures totaling US$10 million and cash payments of US$1.1 million. Additionally, Condor will pay Hernán Barros Cruchaga a finder's fee related to the sale of its Soledad property in Ancash, Peru.
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