ACRC announces signing a memorandum of understanding with Sociedad Minera Del Peru S.A.C.
Updated: Mar 23, 2019
American Condor Resources Corporation (“ACRC” or the “Company”) announces that it has signed a Memorandum of Understanding with Sociedad Minera Del Peru S.A.C. (“SOMINSAC”) to advance finance and acquisition discussions as well as collaboration.
Christopher Werner, ACRC President and CEO, stated “We have been active in both exploration and continued acquisition of mining projects in Peru since 2013 and SOMINSAC offers our Peruvian subsidiary, Gorgona Gold S.A.C., an ideal opportunity to not only commence mining activity and further advance our exploration projects, but also to enhance our management team and prepare for continued growth.”
SOMINSAC has a large mining concession (Trinidad) in an area of dense gold production approximately 800 km north of the capital of Lima. There are three mines on the project two with grades over 10 grams per ton. The original mines date back several centuries and there are no recorded production records. A small scale initial exploitation plan is estimated.