CONDOR RESOURCES INC. A total of 2,353m was drilled in nine diamond drillholes, testing a 600m by 900m (0.54 sq km) area of the four square kilometer advanced argillic alteration zone exposed on the Pucamayo property.
AuEq assumes US
'We are pleased with the results of this first drill program at the Pucamayo East project' stated Ever Marquez, Condor's VP Exploration. 'Our maiden drill program has identified a substantial mineralized and altered area with locally elevated precious and base metals with some of the best values coming near surface. Intercepts include both long intervals of low grade precious and base metal mineralization as well as local high-grade structures, notably 18.96 g/t AuEq over 2.0m. We have tested only a small part of Pucamayo and are excited by the potential that remains in what appears to be a much larger mineralized system.'
Six of the nine drillholes tested the extent of high sulphidation type epithermal gold and silver bearing outcropping ledges of breccia and four of these (PUC-E-001, 007, 008 and 009) intersected near surface gold-silver-poly metallic intervals ranging from 3.8m to 52.2m, and grades from 0.1 to 1.1 g/t AuEq. Two holes (PUC-E-002 and 003) drilled to the east and collared higher in elevation encountered barren steam heated host rocks interpreted to lie above the mineralized zones intersected in PUC-E-001, 007, 008 & 009.
Three deeper holes (PUC-E-004, 005, and 006) tested an outcropping area of multi phase stockwork and alteration associated with anomalous gold and copper with associated IP chargeability and resistivity anomalies interpreted to be an intrusive related system. The best of these, PUC-E-005 intersected a 72.5 interval from 190-262.5m grading 0.45 g/t Au, 30 g/t Ag (0.83 g/t AuEq) including a 2 m high grade interval of 11.43 g/t Au, 687 g/t Ag (18.96 g/t AuEq). PUC-E-006 intersected a 2m interval grading 7.97 g/t Au, 20.9 g/t Ag (8.26 g/t AuEq). All three of these holes encountered extensive amounts of pyrite and discontinuous zinc, copper, and lead mineralization associated with argillic/phyllic altered andesitic/dioritic host rocks.
Condor recognizes that the inaugural drill program has tested a relatively small portion of the 4 sq km area of argillic/silicic alteration zone present on the property. This large alteration zone is interpreted to represent a halo or high level-lithocap lying above a potentially mineralized porphyry system at depth to the southeast of the drilled area. This area lies within the Company's concessions, but requires an expansion of the permitted (DIA) work area. Mineralogical (Terraspec) studies to evaluate alteration zoning are currently underway on material collected from the recent drilling program to assist in vectoring towards future potential target areas.
Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. The Company's objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in
Condor employs industry standard QA/QC and data verification protocols. Drilling was performed by Energold Drilling Peru SAC. The drill core was cut lengthwise into halves using a diamond-bladed saw, with one-half used for the assay sample and the other half retained in core boxes and archived at site. Mineralized zones were generally sampled on 2m intervals. Each core sample was placed into a bag with a unique numbered sample identification tag. Quality control samples including standards, blanks and duplicates were inserted between core samples using the same numbering sequence. Then samples were grouped into batches for shipping and laboratory submissions. Chain of custody records are maintained for sample shipments and the custody is transferred from Condor to the laboratory upon delivery.
Samples were shipped to and assayed by SGS
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