Gold | Silver
The Company is seeking a joint venture partner to continue to explore and advance the Humaya project.
The property is located in the Department of Ayacucho in Southern Peru, about 190 km east of the city of Ica.
The 7 sq km project was acquired by staking in 2016, and is 100% owned. In January 2017 Condor and Sandstorm Gold Ltd. (“Sandstorm”) finalized a transaction that included the sale of a 0.5% NSR to Sandstorm on the Humaya project.
Previous field work by Condor geologists in 2016 consisted of mapping and sampling. A total of 55 rock channel samples were collected, and subsequent analysis showed anomalous values for copper, gold and silver.
There is no evidence of prior drilling or other exploration work, probably because the alteration-mineralization system is discrete, only outcropping along the creek. The outcropping is more than one kilometer in length, with intense alteration and stockwork, typical of a gold and copper porphyry system.
The local geology is cretaceous age sedimentary rocks overlain by tertiary volcanic post mineral rocks, and intruded by tertiary feldspar-hornblende-porphyry (FHP). The alteration and mineralization center is hosted principally in the FHP, with halos and hydrothermal breccias hosted at sedimentary rocks. The mineralization alteration system is of the porphyry type, the core of the system hosted at FHP, the assemblages is of quartz. Secondary biotite-sericite-pyrite, minor chalcopyrite, with very strong multiphase stockwork, and many types of veinlets, including B type veins with quartz-pyrite-chalcopyrite, multidirectional, and these infills may be directly related to gold and copper. Generally the system is weathered and only the potassic is preserved in some zones as a patches.In general the alteration is more than 2 kms in diameter. The porphyry is covered in part by post mineral tuffs and fluvio-glacials.