Cristal
As in the case of the Escudo project, the Cristal property is located along the West Fissure, north of Falconbridge's Collahuasi/Ujina porphyry copper district, and near the Peruvian border. Originally these staked claims covered 28 sq. km., but in late 2006, the area was increased to 46 sq. km. to cover surrounding areas of interest.The Cristal target is covered by young volcanics (ignimbrites) which have been eroded by two deeply incised N-S trending valleys (gulches), interpreted to be strands of the West Fissure fault system. A few kms south of the property, on the east side of the eastern quebrada (gulch), there is an exposed classic Chilean porphyry copper outcrop of altered quartz-feldspar porphyry ("QFP") intrusive rock exhibiting abundant stockwork quartz veining, at least 3 phases of brecciation, and limonites after pyrite and copper minerals. A 'relict sulphide' study conducted in the early 1990's on this outcrop (nicknamed the Red Wall) revealed abundant bornite and chalcopyrite along with pyrite encapsulated within quartz grains in the QFP. Exposures of propylitic alteration in andesite, and an Ag-Pb-Zn vein district with historical small scale production are found to the southwest of the Cristal claims, in the western quebrada.
This area is interpreted to be the pyritic halo surrounding a potentially enriched porphyry copper system, the centre of which is postulated to be located to the north of the Red Wall, under the ignimbrite cover - the focus of the Cristal claims. This project is contiguous with claims owned by Codelco to the east and Mantos Blancos (Anglo American) to the south.
At Cristal, the West Fissure undergoes an abrupt change in direction from N-S to N45W, precisely where it is intersected by a NE-SW regional structure. Condor geologists believe that the intersection of these deep seated structures controls the emplacement of the majority of Chile's Atacama Desert porphyry copper deposits.
In July 2006 the property was optioned to Peregrine Metals Limited; Peregrine could earn a 51% interest in the property over 4 years by expending US$2.5 million on the property, making cash payments of US$1.5 million to Condor, and issuing 500,000 shares to Condor. Peregrine conducted a deep-penetrating IP survey in November 2006, consisting of one 10 km line across the south end of the property. Peregrine subsequently dropped the property, so Condor regained a 100% interest in Cristal.
Anglo American were reportedly on the southern end of the Cristal property in early 2008 doing geo-physics; Anglo control the ground to the south of Cristal.
Condor is actively seeking a joint venture partner for the Cristal property.
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