Cardero Resource Corp. (TSE:CDU, NYSE Amex:CDY) announced very positive initial drill results from its Ferro-Titanium TiTac and Longnose projects in northern Minnesota, USA.

The press release is quoted as saying:

The Company has completed a total of 36 diamond drill holes at the projects for a total of 11,506 metres with significant iron-titanium and copper mineralization being intersected in the majority of the holes at both projects. Phase one drilling has been completed and SRK Consulting of Vancouver, Canada has been retained to prepare an independent NI 43-101 resource estimate upon receipt of all remaining assays. Mineralization remains open for expansion and, contingent on results, it is anticipated that additional resource definition and expansion drilling will re-commence in late-2010.

Click here to access the entire press release ^[1]

Click here to access Cardero Resource Corp. Corporate Site ^[2]