Vancouver, B.C., March 3, 2011 – Condor Resources Inc. – (“Condor” or the “Company”) (TSX.V: CN) is pleased to announce that a diamond drill rig is scheduled to be mobilized onto the Pucamayo West Gold-Silver target on March 7th. Road access and drill platform construction are well advanced in anticipation of the drilling rig.
The Pucamayo West Gold-Silver target has never been drill tested. The drill program at Pucamayo West will test the NW and NE trending low to intermediate sulphidation multiphase quartz-carbonate veins which have been discovered to date, the largest of which has been traced along strike for 1500m with an average width of over 15m. Channel samples from the epithermal Au-Ag veins at Pucamayo West have returned values up to 86.6 g/t Au and 84.8 g/t Ag over 3m, 5.85 g/t Au and 1.69 g/t Ag over 10m, and 1.34 g/t Au and 624 g/t Ag over a 2m width. Independent sample verification by Condor’s Qualified Person, Dr. Richard Culbert, P.Eng., returned results which included 1.77 g/t Au and 257 g/t Ag over 1.50m, 1.57 g/t Au and 137 g/t Ag over 2.2m, 0.96 g/t Au and 362 g/t Ag over 1.8m and 0.33 g/t Au and 387 g/t Ag over 1m. Numerous geophysical resistivity and chargeability anomalies exist coincident with the dominant NNW-striking vein and the drill program will test this structure at several locations and depths along strike, as well as secondary structures which have also returned encouraging surface results.
Continuing exploration on the east side of the Pucamayo property recently led to the discovery of a southerly extension of the Tinco alteration zone, where anomalous geochemical gold values have been found. As a result, an additional 5 sq km have been staked at Pucamayo, increasing the total size of the project to 47 sq km.
About Condor Resources Inc.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of gold and copper projects in South America, where management has extensive experience and a proven track record of discovery. The Company’s long term objective is the discovery of a major new gold and/or base metal deposit, and its business plan offers shareholders access to an exciting and growing portfolio of discovery stage properties, including six 100% owned projects in Chile, and seven projects in Peru, each offering a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact Timea Carlsen at 1-866-642-5707, or by email at: info@condorresources.com
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Corporation does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements. Dr. Richard Culbert, P. Eng., is the Qualified Person for the Company as required by NI 43-101 and has reviewed the contents of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
