Royal
Austral was discovered during reconnaissance prospecting by the Company, and acquired by staking. Austral is considered a satellite porphyry related to the Brahma project. The Austral property adjoins the Brahma property, in southern Chile, southeast of the city of Talca. Austral is about 30 sq kms in size and comprises a sequence of andesitic volcanics intruded by a mineralized and altered quartz-feldspar porphyry exposed as a 'window' along the base of a steep valley slope. Copper mineralization occurs most commonly within the quartz-sericite (phyllic) alteration zone and has been traced over a length of 1500 metres by 500 metres in width. Mineralization remains open in all directions under cover. Historically, small scale mining has occurred within fracture zones containing copper oxides at Austral. A total of 91 surface rock samples returned 46 samples (51%) grading 0.10% to 0.68% Cu with associated anomalous Mo-Au-Ag-Pb and Zn.
A geophysical survey was completed in mid 2008 to attempt to define the limits of the mineralization under cover.
In February 2009, Condor was advised by a major international mining company that they had completed an inclined 321m diamond drill hole which was collared within an adjacent mineral claim and terminated on Austral. This drill hole was completed without the knowledge or consent of Condor. Subsequent to drilling and assaying of the hole by this company, the drill hole location and assay results were voluntarily forwarded to Condor and, subject to confirmation by Condor, indicate the presence of significant amounts of copper and gold mineralization. Copper values in the hole were anomalous, with numerous individual 1m core samples returning values of 1% to 1.1% Cu, and gold values ranging from negligible to 0.248 g/t Au. Condor geologists intend to examine and re-log the drill core.
No commercial relationship currently exists between this undisclosed major company and Condor. Discussions between the major company and Condor are continuing in a spirit of amicable cooperation.
Results
February 17, 2009 Drill Results
)
)
)
)
)
)