Vancouver, B.C., January 9, 2018 – Condor Resources Inc. – (“Condor” or the “Company”) (TSX.V: CN) is pleased to provide the summary results from the recent reconnaissance work at the Huiñac Punta project in the Huanuco Department, Peru.
Huiñac Punta is located on the eastern part of the Mesozoic polymetallic carbonate sediment host belt in central Peru, host to the Antamina Mine approximately 80km to the north-west. “The mineral deposit in Antamina is a skarn type of deposit containing copper-zinc, silver, molybdenum and bismuth and it is currently considered the largest of its kind in the world.” (www.antamina.com/en/sobre-antamina/nuestras-operaciones/componentes-de-la-mina/)
Huiñac Punta covers approximately 20 sq km acquired by staking, and is 100% owned by Condor, subject to a 0.5% NSR held by Sandstorm Gold Ltd. Topography is gently rolling to steep, with elevations ranging from 3800m to 4300m. Discreet evidence of old Spanish workings – small dumps and several collapsed adits – are not obvious and are hidden by modest grass vegetation.
In October an initial reconnaissance and sampling program was undertaken by Condor, under the guidance of Ever Marquez, VP of Exploration. A total of 26 rock chip channel samples were collected over an area of interest approximately 500m by 800m. Eighteen of the twenty-six samples were 2m long rock chip samples from outcrop/bedrock, while eight of the samples were 1m long rock chip samples taken from rocks in dump piles, which rocks are assumed to have been sourced from the old adits. As the rock chip samples were selected samples taken from outcrop/bedrock, or from the rocks in the dump piles, they may not be representative of the mineralization hosted on the project.
Five of the samples reported high silver values (greater than 500g/tonne); with the highest silver values (4115 g/tonne and 3225 g/tonne) recorded in the bedrock samples. Anomalous copper results were also noted, with reported values up to 2.7% copper (dump sample). Anomalous zinc values were present in all samples, up to a value of 0.6% zinc (bedrock sample), and anomalous cobalt up to 0.3% (dump sample).
Ever Marquez made the following field observations: “The alteration assemblages have replaced the limestone sequences in contact with the granitic intrusive, with occurrences of pervasive silicification in the lower part of the limestone, with massive dark sulphides and oxides. In the upper part of the limestone, we see brecciated decalcifications, with minor sulphides and oxides. I would consider Huiñac Punta as a new discovery in the Mesozoic polymetallic carbonate sediment host belt of Central Peru, with great potential for bulk tonnage silver, copper, and zinc resources.”
Subsequent to receipt of the results, Condor commenced the application process for the Declaración de Impacto Ambiental (“DIA”) for the Huiñac Punta project.
Condor is an explorer and project generator focused exclusively on Peru, and our objective is the discovery of a major new precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration team.
ON BEHALF OF THE BOARD
Lyle Davis,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com
Mr. Brian D. Game, P.Geo, is the Qualified Person under NI 43-101 who has approved the scientific and technical content of this news release.
Quality Assurance/Quality Control: The sampling program was undertaken by Company personnel under the direction of Ever Marquez, Condor’s VP Exploration. A secure chain of custody is maintained in transporting and storing of all samples. Samples were delivered to and assayed by SGS Del Peru S.A.C. in Lima, a laboratory whose quality control system complies with International Standards OHSAS 18001, ISO 14001 and ISO 9001. Analysis by four acid digestion system with 51 element ICP-MS analysis was conducted on all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required. Copper and silver samples over the upper detection limit of ICP-MS were re-analyzed by atomic absorption spectrometry. Systematic assaying of sample duplicates and commercially prepared blanks and standards was performed for analytical reliability by the laboratory. Rock chip samples from outcrop/bedrock or from rocks in dump piles are selective by nature and they may not be representative of the mineralization hosted on the project.
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.
