Vancouver, B.C., September 7, 2011 – Condor Resources Inc. – (“Condor” or the “Company”) (TSX.V: CN) is pleased to announce encouraging reconnaissance sample results from its San Martin sediment hosted precious metals occurrence in southern Peru.
The 4 sq km San Martin Project is 100% owned by Condor and was acquired by staking. San Martin is located in the province of Castilla in the department of Arequipa, approximately 1,350 km southeast of the city of Lima and 7 km southeast of the Orcopampa gold mine, at elevations ranging from 4500m to 4800m. Access is by a 195 km unpaved public road which connects to the Pan American highway.
The property is hosted within the Orcopampa-Caylloma precious metals belt of south central Peru and is underlain by Cretaceous-aged quartzites which have been hydrothermally brecciated and strongly silicified over an area observed in outcrop of 700 by 100 meters. The silicified breccia matrix and clasts include iron oxides along with patches of abundant silica-barite, fine grained grey sulphides and disseminated pyrite.
Initial reconnaissance sampling of the hydrothermal breccia comprised the collection of 41 two metre chip channel samples of which 23 chip samples contained values in excess of 100 ppb gold (Au), 7 chip samples with values in excess of 0.5 grams per tonne (g/t) Au, and peak values of 1.58 g/t Au and 1.88 g/t Au. Furthermore, eighteen (18) chip samples contained silver (Ag) values in excess of 15 g/t Ag, including 7 chip samples in excess of 50 g/t Ag, and peak values of 244 g/t Ag, 388 g/t Ag and 745 g/t Ag.
Condor plans to conduct detailed mapping and sampling over the exposed area of the hydrothermal breccia and to sample the surrounding areas with the objective of delimiting the extent of the target under glacial-fluvial cover. An IP/resistivity geophysical survey is planned and discussions have already been scheduled with the local community. This new epithermal sediment hosted precious metals discovery has never been previously sampled or drill tested.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of precious and base metals 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 precious/base metals deposit and its business plan offers shareholders access to an exciting portfolio of thirteen properties in Peru and Chile, 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 778-998-2473, or by email at: tcarlsen@condorresources.com
Dr. Richard Culbert is the Qualified Person under NI 43-101 who has approved the technical content of this news release.
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