PROFESSIONALS IN MINING
American Condor Resources (ACR) is an alternative capital provider for mining companies with a focus on acquiring interests in pre-producing, exploration and development mines of precious and base mineral properties in the Americas. ACR is actively looking for investment opportunities in the natural resources space. We pride ourselves in structuring transactions to benefit junior mining companies to achieve the growth and eventual production of their asset base.
Currently, ACR has signed a MOU with a North American junior miner and has controlling interest in two companies; one in Peru and the other in Nicaragua. The Peruvian company which was incorporated in 2012 has direct ownership in ten different mining projects comprising 22 mining concessions encompassing approximately 15,000 hectares of surface area. The projects are mainly porphyry copper-molybdenum, volcanic hosted massive sulphides (gold, silver, lead, zinc, copper and epithermal (gold-silver). The Nicaraguan company which was incorporated in 2017 has identified with the assistance of in-country operating partners over 200,000 hectares of mining concessions that contain and estimated 5 million ounces of gold. Situated within these concessions is a 500 ton per day processing facility that can be expanded to accommodate increased production.
The 2015 USGS Minerals Yearbook – Peru, estimates the country to hold 2000 metric tons of proven gold reserves, making it the sixth largest gold producing country in the world and the first in Latin America. Even though this is the case, currently Barrick and Newmont Mining Corporations are the only major producers operating in the country, together with a handful of small exploration and production companies. Disorganized small scale and artisan miners comprise the majority of Peru’s gold mining operations, creating a considerable opportunity for international investor-backed companies to gain a significant presence within the country’s gold mining industry.
Our Company based in Nicaragua is called Pangea Gold S.A. We formed the company in June 2017 and we have a working relationship with ENIMINAS which was also formed in the summer of the same year. This partnered company is approved by the Nicaraguan Government and controls:
1.5 million hectares of mining concessions Contaning an estimated 5 million ounces of gold.
The mining property is located in the Chinandega Department the North-West sector of Nicaragua. The village of Somotillo is basically well centered in the sector. Access can be done by vehicle from Managua city through a paved road (200 Km) using the paved road Managua-Leon-Somotillo.
Topography is semi-regular with elevations ranging between 185 to 900 m.a.s.l. Climate is hot and humid with an average temperature of 34°C and precipitation of 1,800 mm/m2. Raining season runs from May to November.
The Company Iberoamericana de Minas S.A. (IBEROMINAS) has started exploration activities since 1994. Today the mining concessions are being grouped into two main mining blocks called Iberominas I and Iberominas II. The main explored and mined targets are belonging to the Iberominas I package.
The project includes with a cyanide gold processing plant. The plant capacity of processing is 500 t/day with an average recovery rate of 80%. There is a camp close to the Somotillo town and close to the paved road Managua-Leon-Somotillo.
AMERICAN CONDOR RESOURCES will generate its revenue and increase its resource from the following sources:
500 ton per day gold processing facility in Nicaragua
Advanced exploration of ten Peruvian Mining projects with late stage gold/silver Suriloma planned production in 3rd quarter 2019
Joint Venture exploration with Senior mining company
Direct ownership in 22 mining concessions in Peru; one of the world’s leading producers of base and precious metals. Controls through a lease/purchase option a 500 ton per day gold processing facility in the gold rich Northern Territory of Nicaragua.
Large Partners – Empresa Nacional De Minas SA – ENIMINAS – Nicaraguan Government owned mining company with 1.5 million hectares of mining concessions with an estimated 10 million ounces of gold.
Resources – Estimated 2 million ounces Au equivalent in the 22 mining concessions in Peru and access to 200,000 hectares of mining leases controlled by ENIMINAS to supply the Iberominas gold processing facility where an additional 500k ounces Au is located.