Condor Resources: Rio Luna Concession Granted

LONDON (Dow Jones)--Condor Resources PLC (CNR.LN), said Friday that it has been granted the 45 square kilometers Rio Luna Concession in the Central Highlands of Nicaragua. MAIN FACTS: -Rio Luna contains over 18 kilometers of gold-bearing epithermal quartz veins and a number of advanced gold prospects with significant recent drill intersections. -Rio Luna has been granted to Condor S.A., a wholly owned Nicaraguan subsidiary of Condor Resources. -The Concession is for both exploration and mining and the title is for an initial period of 25 years. -Condor does not have any further concession applications pending in Nicaragua. -Condor has identified two of the recently drilled prospects that require further drill testing to define the strike length and depth, as well as further targets that require initial drill testing to ascertain whether there is a commercial gold reserve on the concession. Shares closed Thursday at 0.43 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; razak.baba@dowjones.com (END) Dow Jones Newswires June 18, 2010 02:21 ET (06:21 GMT)