Concordia Resource Corp. ("Concordia") is a well-financed junior explorer seeking to identify large-scale mineral resources in Africa and South America.
Concordia has an extensive exploration portfolio in the resource endowed regions including Burkina Faso, the Democratic Republic of Congo, Mozambique and Argentina.
Concordia has continued to add value through a focused program of exploration and acquisition. This effort resulted in the acquisition of our African assets in early 2012 and an aggressive program in Burkina Faso; a NI 43-101 resource at our Providencia Silver Project in Argentina and the first comprehensive mapping and sampling program on the Cerro Amarillo Copper/Gold porphyry target, also in Argentina.
At Providencia, the drilling program was successful in verifying the historic resource as well as in identifying the geologic structures and controls on mineralization to guide our Phase II expansion program. Very high grade intersections of up to 3,000 g/t silver (100 ounces per tonne) indicate potential for a rich source, as yet to be identified.
At Cerro Amarillo, geologic mapping and sampling has outlined three distinct porphyry centers with extensive alteration, mineralization and veining characteristic of many of the other producing copper mines along the Andes. The current plans for Cerro Amarillo include compiling the results into a comprehensive report that can be used if we choose to seek a joint venture partner for the next phase of development.
In West Africa, we continue to capitalize on our acquisition of Swala Resources and are now generating very exciting results from our inaugural drilling program at Kerboulé. Initial results have identified broad zones of gold mineralization at grades and thicknesses we believe to be consistent with open pit mining operations in the region, as well as some spectacular high grade intersections of 87 g/t and 94 g/t gold.
Going forward, we will continue to focus our efforts on Africa. We continue to evaluate a growing list of opportunities as junior explorers get forced into solvency issues as alternative sources of financing dry up. While the market conditions are difficult for all of the smaller companies it is disastrous for the companies falling outside a financial safety net.
Concordia is an exploration company; it is well funded and has a highly qualified team of professionals engaged in the search for resources that will increase the value of the Company. Concordia’s goal is to discover and advance mineral projects that can significantly add value. We have set realistic targets for each of the projects under development and will make decisions to progress the properties based entirely on the results generated and the perceived risks and expense of going to the next phase.
In addition, Concordia also has an opportunity to participate in the future growth of Western Lithium USA Corporation (TSX: WLC) through Concordia’s 28% holding in the company. WLC is developing its potentially world class, 100% owned assets in Nevada, USA, for a growing battery market for the plug-in hybrid and electric automobiles; and has the opportunity to participate in the growing shale gas industry through the potential sale of superior quality Hectorite clay based drilling additives sourced from the same Nevada property.