|June 09, 2008|
Condor Discovers New Chilean Porphyry Copper Occurrence
|Vancouver, B.C., June 9, 2008 - Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to announce that reconnaissance prospecting has led to the discovery and subsequent staking of a new porphyry copper occurrence near the Brahma project, south of Santiago, Chile.|
Named Austral, this 30 sq km project 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. Details of the geochemical rock sample program are on the website. A geophysical survey will be carried out in the near future at Austral to attempt to define the limits of the mineralization under cover.
At Brahma, unseasonal heavy rains have hampered construction of the access road and it is now anticipated that drilling will not commence before the end of June.
The Company also announces that it has hired Joel Warawa as Manager of Investor Relations, and has granted him 50,000 incentive stock options pursuant to its Stock Option Plan. The options are exercisable at a price of $0.68 per share for a term of five years expiring June 6, 2013. The options will vest subject to the Company's Stock Option Plan.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of copper and gold projects in Latin America, where management has extensive experience and a proven track record of discovery. The Company's long-term business plan offers shareholders access to a growing portfolio of properties, including seven 100% owned projects in Chile, and four in Peru, each providing a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact:
Joel Warawa: 1-866-642-5707
Saf Dhillon: 604-484-2015
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. Dr. Richard Culbert, P.Eng., is the Qualified Person for the Company as required by NI 43-101 and has reviewed the contents of this news release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
You can view the Next News Releases item: Tue Jul 8, 2008, Diamond Drill Turning at the Brahma Project
You can view the Previous News Releases item: Wed May 28, 2008, Property Updates - Chile & Argentina
You can return to the main News Releases page, or press the Back button on your browser.