CEO comments on project Glenn Laing, President and CEO of Ecuador Gold and Copper Corp. comments:
“The newly updated resource estimate at our Condor Gold Project represents a substantial increase in the Company’s resource base and in particular at the Santa Barbara South Zone. We are extremely encouraged by the addition of new gold resources at the Santa Barbara South Zone and the upgrade in the quality of the resource estimate to now include Indicated gold resources. The Company has completed 17,321 meters of new drilling on the Condormining concessions between August 2012 and the end of August 2013. EGX boasts close to 2 million ounces of Indicated gold resources in our epithermal gold deposits at Los Cuyes and Soledad in the north and in the south 4.33 million ounces of indicated gold resources at Santa Barbara plus an additional 1.745 million ounces of inferred gold resources at Santa Barbara. We also have a further Inferred resource of 500,000 tonnes of copper (1.1 billion pounds) at El Hito in our resource inventory. Our Condor Gold Project continues to meet and exceed our expectations and we believe it is proving to be one of the most exciting advanced exploration projects in South America. We estimate our exploration costs of discovery to be in the order of $2.00 per ounce of gold in 2012 and 2013.”