TSX.V: CN Shares Outstanding: 24,060,241
Vancouver, B.C., December 17th, 2008 - Condor Resources Inc. - (“Condor” or the “Company”) (TSX.V: CN) is pleased to announce results of a seven hole first phase drill program recently completed on its wholly-owned Brahma porphyry copper project in Chile. A total of 2,905 metres were drilled to test the large surface-altered and geochemically anomalous target with a coincident IP anomaly. The program was the first recorded drill program over this newly-discovered porphyry copper system.
Drilling typically intersected a 20m to 30m thick zone of oxidized leached capping from surface, followed by strong phyllic alteration within a hornblende-feldspar porphyry intrusive containing localized quartz stockwork veining with limonites and sulphides, and a potassic-altered quartz-feldspar porphyry intrusive at depth.
The widest and best intercept was 0.14% Cu over 184 metres in BRA-003. Other than BRA-003, intercepted copper values were marginal, with the most significant intercepts summarized in the table below. Molybdenum values were generally anomalous but sub-economic; the best molybdenum intercept occurred in hole BRA-006 over a 2m interval from 156m to 158m grading 0.11% Mo. Detailed results can be found on the Company website (www.condorresources.com/s/Brahma.asp).
| Drill Hole | From (m) | To (m) | Width (m) | Cu% |
|---|---|---|---|---|
| BRA-001 | 324.00 | 332.00 | 8.00 | 0.24 |
| BRA-003 | 102.00 | 116.00 | 14.00 | 0.21 |
| 166.00 | 350.00 | 184.00 | 0.14 | |
| BRA-004 | 216.00 | 248.00 | 32.00 | 0.19 |
| 282.00 | 332.00 | 50.00 | 0.11 |
“The Phase I drill program tested a small portion of the main 6 sq km Brahma porphyry copper target, and whilst the copper values were lower than anticipated, the drill program was successful in confirming the presence of a large mineralized system which remains open to the northeast and at depth” said Patrick Burns, President of Condor. “We believe that additional IP-Resistivity geophysics followed by further drilling is warranted on the main Brahma porphyry copper system”.
In addition, several other large targets remain to be tested within the 270 sq km property. These include the Austral Cu-Mo porphyry target located to the northeast (See Condor’s June 9, 2008 news release), as well as follow up on the alteration and multi-element geochemical anomalies within the Ancoa River area to the south and the Calabazo Quebrada immediately to the east.
Given the large size of the Brahma Project, and the fact that substantial expenditures will be required to test the many remaining targets, Condor is presently seeking a JV partner to continue the evaluation of the project.
Samples of the NQ drill core were taken over 2m intervals and cut with a diamond saw, bagged and stored at a secure, supervised facility on site at the Brahma Project for later pick up by Andes Analytical Assay Ltda. personnel for shipment to Santiago, Chile. Sample preparation was carried out at Andes Analytical in Santiago, Chile, an accredited ISO 9000:2001 full-service commercial laboratory. Gold assays were completed in Chile, and ICP analysis was performed in Vancouver at Assayers Canada. The analytical method used was ICP AR34AES + geochemical Cu and Au AEF AAS1EE1 (30 g AA fire assay) was routinely done at 25 m intervals. Control samples were inserted by Andes every 13 samples, comprising standard blanks and duplicates, and Condor also inserted routine duplicate samples and blanks. The remaining drill core is securely stored on-site at the Brahma project.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of copper and gold projects in South America, where management has extensive experience and a proven track record of discovery. The Company’s long-term business plan offers shareholders access to a growing portfolio of properties, including seven 100% owned projects in Chile, and six in Peru, each providing a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at: info@condorresources.com
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. 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.
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