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KEMESS SOUTH DEPOSIT POSITIONED TO LEAD NEW BRITISH COLUMBIA PRODUCTION

 VANCOUVER, British Columbia, April 29 /PRNewswire/ -- Robert G. Hunter, Chairman of El Condor Resources (NASDAQ: ECNCF; Vancouver: ECN) and Evangelos Catevatis, Secretary of St. Philips Resources Inc. (Vancouver: SPP) announced that the ongoing Kemess South Joint Venture programs are rapidly advancing the Kemess South deposit towards the status of a major open pit, gold- copper mine. Kemess South Joint Venture participants are El Condor Resources Ltd. (60 percent) and St. Philips Resources Inc. (40 percent), with El Condor the Joint Venture operator.
 The Joint Venture partners recently adopted a further $1,000,000 budget to fund completion of advanced stage studies. These include a comprehensive and detailed Kemess South Project Prefeasibility Study, contracted to Kilborn Engineering Ltd., which is nearing completion and will be tabled in May. In addition, ongoing environmental and socioeconomic studies with respect to all project components (site, transportation, power) are progressing so that an application for a Mine Development Certificate can be made to the British Columbia government this fall. Further, a diamond drill program will commence in June to explore for the fault offset to the Kemess South deposit. Twelve widely spaced drill holes have been budgeted as an initial test.
 Kilborn's Prefeasibility Study for the Kemess South deposit is based on conventional milling of 44,000 tons per day over a 14-year mine life. A mineable reserve of 213 million tons, having life of mine stripping ratio of 1.3-to-1, contains 1 billion pounds of copper and 3.9 million ounces of gold. Average annual production will be 220,000 ounces of gold and 57 million pounds of copper. Available infrastructure, excellent deposit grade, continuity and geometry along with metallurgy and topography all integrate favorably at Kemess South to make the deposit well suited to high volume, low cost open pit mining.
 Forecasts are that by the year 2000 only two of British Columbia's major open pit mines will remain in production because of the depletion of their reserves. Already, in the past two years, four major open pit mines (Afton, Brenda, Equity and Bell) have ceased operations. This situation coupled with the worldwide demand for new metal production makes the need for Kemess South production exceptionally high. It is clear that a new generation of open pit copper mines is set to commence in British Columbia. Expectations are that the Kemess South deposit will lead the wave.
 -0- 4/29/93
 /CONTACT: Robert G. Hunter, chairman of El Condor Resources, 604-684-6365; or Evangelos Catevatis, secretary of St. Philips Resources, 604-685-2877/
 (ECNCF SPP.)


CO: El Condor Resources Ltd.; St. Philips Resources Inc. ST: British Columbia IN: MNG SU:

BP-JB -- LA043 -- 2894 04/29/93 17:11 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
Words:443
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