Condor Acquires Property in the Finlayson Lake Area, Yukon.VANCOUVER, British Columbia--(BUSINESS WIRE)--May 13, 1996-- Donald A. McLeod, president of Condor International Resources Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended :COD) today announced that the company has entered into an option agreement with Garabaldi Exploration Ltd. to acquire a 100 percent interest in two properties totalling 980 claims, located in the Finlayson Lake area, Yukon. The Finlayson Lake area is highly prospective with both the Wolverine wolverine or glutton, largest member of the weasel family, Gulo gulo, found in the northern parts of North America and Eurasia, usually in high mountains near the timberline or in tundra. (Atna Resource/Westmin Mines) and the Kudz Ze Kayah (Cominco), zinc, lead, silver and gold deposits occurring in the region. The Stand property is comprised of 429 claims centered approximately 30 km northwest of the Wolverine deposit. The property covers an area of large magnetic relief within the same package of rocks hosting the Wolverine deposit. From the air, highly gossanous rock, seep and kill zones have been located over an extensive area. The presence of the kill zones is highly encouraging as several of the deposits in the area have associated kill zones. The War property is comprised of 551 claims centered 70 km to the northwest of the Wolverine deposit and is underlain un·der·lain v. Past participle of underlie. by rocks hosting both the Wolverine and Kudz Ze Kayah deposits. Previous exploration located several showings with characteristics similar to both the Wolverine and Kudz Ze Kayah deposits. Condor can earn a 100 percent interest in both properties by paying Garabaldi a total of $300,000 in cash and issuing 400,000 common shares in stages over 14 months. Garabaldi will also hold a 2 percent NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there on each property. Condor will hold an irrevocable right to buy-back half of the royalty (1 percent) by paying Garibaldi $1,000,000. These agreements are subject to regulatory approval. Phase 1 of the program will consist of detailed prospecting and sampling coupled with high sensitivity airborne and follow-up ground geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. to locate areas of potential massive sulphide sulphide: see sulfide. mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . It is anticipated that this program will commence immediately upon receiving regulatory approval. The company is well financed to carry out Phase 1 of the work program. CONDOR INTERNATIONAL RESOURCES INC. per: Donald A. McLeod, President -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. CONTACT: Condor International Resources Inc. James D. Romano, 604/687-7545 |
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