Vancouver, B.C., May 25, 2011 – Condor Resources Inc. – (“Condor” or the “Company”) (TSXV: CN) is pleased to announce results from its first phase 1,200 metre diamond drilling program at the Pucamayo West silver-gold property, Peru. This was the first drilling program ever conducted on the property. The results of the program are set out below. Diamond drill hole PUC-004 has returned values of 340.9g/t Ag, 0.62g/t Au, 1.80% Cu, 1.77% Pb and 2.27% Zn over 2.2m from 80m to 82.2m depth, including 548.0g/t Ag, 0.72g/t Au, 2.5% Cu, 2.01% Pb and 2.18% Zn over 1.2m from 81 to 82.2m depth.
Additional drill intercepts within the low to intermediate sulphidation multiphase vein system at Pucamayo West returned highs of 1.58g/t Au, 3.3% Pb and 3.5% Zn along with associated highly anomalous silver values. The majority of the drill holes successfully intersected the quartz-carbonate veins surrounded on the hangingwall and footwall by brecciated quartz or ‘crackle breccia’, particularly in the case of the main NW-SE trending, steeply dipping structure. Mineralization at Pucamayo West remains open along strike and at depth. For drill hole locations, see www.condorresources.com/s/ProjectMaps.asp?ReportID=416365
| PUCAMAYO WEST DRILL HOLE RESULTS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Hole | From (m) | To (m) | Length (m) | Ag g/t | Ag Oz/T | Au g/t | Cu % | Pb % | Zn % |
| PUC-001 | |||||||||
| 100 | 101 | 1 | 11.1 g/t | 0.36 | 0.1 g/t | 1.18% | 2.17% | ||
| PUC-002 | no significant | results | |||||||
| PUC-003 | |||||||||
| 37 | 40 | 3 | 44.2 g/t | 1.42 | 0.44 g/t | 0.35% | 0.99% | 2.10% | |
| Includes | 39 | 40 | 1 | 62.4 g/t | 2.01 | 0.38 g/t | 0.55% | 1.69% | 2.49% |
| 42 | 43 | 1 | 28.7 g/t | 0.92 | 0.21% | 0.92% | 1.88% | ||
| PUC-004 | |||||||||
| 80 | 82.2 | 2.2 | 340.9 g/t | 10.96 | 0.62 g/t | 1.80% | 1.77% | 2.27% | |
| Includes | 81 | 82.2 | 1.2 | 548.0 g/t | 17.62 | 0.72 g/t | 2.50% | 2.01% | 2.18% |
| PUC-007 | |||||||||
| 26.5 | 27 | 0.5 | 31.5 g/t | 1.01 | 1.58 g/t | 0.28% | 3.30% | 3.50% | |
| PUC-008 | |||||||||
| 22.7 | 23 | 0.3 | 5.7 g/t | 0.18 | 1.55 g/t | 0.28% | |||
| PUC-009 | |||||||||
| 55.9 | 56.5 | 0.6 | 50.2 g/t | 1.61 | 0.17% | 0.26% | 0.84% | ||
| PUC-010 | |||||||||
| 92 | 94 | 2 | 4.0 g/t | 0.13 | 0.75 g/t | 0.39% | 0.27% | ||
| PUC-011 | |||||||||
| 24.1 | 24.2 | 0.1 | 28.2 g/t | 0.91 | 4.19% | 1.50% | |||
Approximately 30% of the proposed 3,000m drill program at Pucamayo has been completed to date and additional geophysics and drilling are being planned for Pucamayo West, as well as eventual drilling of the Pucamayo East high sulphidation hydrothermal breccia target. (Refer also to Condor’s January 5th, 2010 and April 8th, 2010 news releases).
One objective of additional geophysics at Pucamayo West will be to provide data at the projected intersection of several mineralized veins, including the main NW-SE mineralized structure and the NNE vein (which returned values to 86.6g/t Au over 3m) where earlier geophysics suggested the existence of a potentially large high chargeability anomaly at depth.
The Pucamayo project is located within a Tertiary volcanic belt which is host to the majority of epithermal precious metals deposits in the Central Andes of Peru.
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
Dr. Richard Culbert is the Qualified Person under NI 43-101 who has approved the technical content of this news release.
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.
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