Gold | Silver
Status:
The Andrea project is located in the south-central Andes, at elevations ranging between 4100 and 4600 m, approximately 480 km southeast of Lima in the Department of Ayacucho. Andrea is located approximately 15 km north of the Breapampa mine operated by South America Mining Investments and approximately 25 km east of Mina Apumayo.
Condor acquired 8 square kilometers through participation in early 2017, 4 square kilometers through auction in June 2017 and 10 square kilometers through participation in late 2017, bringing the total project area to 22 square kilometers, 100% owned by Condor . The Andrea property is not subject to any royalties.
Location and property:
In October 2021, there were social and environmental problems generated at that time in mining operations near the district. Consequently, conversations with the community, owner of the surface rights, stalled in Nov. 2021. Condor’s exploration and community team is reengaging with the community in regards to potential exploration activities with a warmer reception, and is optimistic of continued progress.
Recent work:
Condor acquired the Andrea project because our initial assessment recognized a high-sulfidation epithermal-type gold-silver target within a target area of approximately 800 m diameter, dating to the Miocene-Pliocene age. Ever Márquez, vice president of exploration at Condor, is very familiar with the epithermal systems and precious metal metallogeny of south-central Peru, having previously worked extensively in the area.
Initial reconnaissance mapping was completed in May 2017, with a total of 117 rock fragment channel samples collected and analyzed. Exploration sampling and mapping was concentrated in the central part of the project, within a much larger advanced argillic alteration envelope. The gold and silver mineralization is hosted in hydrothermal breccia ledges, and the exposed surface of the largest breccia identified is up to 200 m in diameter. The breccia exhibits halos of advanced, granular argillic silica and vuggy silica. Sampling results confirmed the anomalous presence of pioneer elements typical of high-sulfidation gold-bearing epithermal systems. Gold assays range from negligible to 4.2 g/t Au, with 23 of the samples showing anomalous gold values greater than 50 ppb, including 13 samples greater than 500 ppb and 7 samples greater than 1 g/t. Samples taken in the 800 m diameter ‘core target area’ (81 of the 117 samples) exhibited more consistent gold values, ranging from 5 ppb to 4180 ppb, and averaging 41 ppb. Measurable silver values were present in all but 6 of the 117 samples, but none of the silver assays exceeded 1 g/t.
In September 2018, the Company acquired over 900 historical sampling results from a former owner of a portion of the Andrea project, the results of which identified anomalous areas previously not recognized by the Company. The Company subsequently completed additional mapping and sampling in these areas.
