|December 20, 2010|
Drilling Commences at La Libertad Porphyry Cu-Mo Target, Peru
|Vancouver, B.C., December 20, 2010 - Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to announce that drilling commenced December 17th on its wholly owned La Libertad porphyry Cu-Mo project located in Ancash Department in northern Peru, 280 km north of Lima.|
The program will comprise approximately 2000m of diamond core drilling in 4 to 6 holes to test both the mineralized porphyry and the recently discovered mineralized hydrothermal breccia targets. The drilling has been contracted to Canchi Perforaciones Peru S.A.C.
Previous work by Company geologists at La Libertad led to the original discovery of secondary copper mineralization in a feldspar hornblende porphyry intrusive in the bottom of the rugged Shemur quebrada (gully) and eventually extended the porphyry target over some 2000m in length. Native copper in samples from the leached cap within the potassic alteration zone of the porphyry returned a peak value of 8.42% Cu over 2m in a channel sample associated with anomalous silver.
The hydrothermal breccia is exposed over a surface area of 200m by 200m and mineralization includes chalcopyrite, sphalerite, pyrite and pyrrhotite in a silica matrix, with silicified sedimentary clasts also containing limonite and minor copper-zinc mineralization. Channel samples of 2 metre widths of the breccia returned values ranging up to peak highs of 0.57% Cu, 0.61 g/t Au, 45.9 g/t Ag, 4.1% Zn and anomalous lead. The hornfelsed host rock channel samples returned values up to 0.2% Cu, 0.3 g/t Au, 534 g/t Ag, 14.85% Pb and 10.75% Zn over 2m while peripheral quartz veins returned values up to 0.65 g/t Au, 204 g/t Ag, 9.63% Pb and 9.92% Zn in channel samples of 2 metre widths.
The La Libertad project is located within the Peruvian porphyry copper belt some 80 km west of the Antamina mine (745Mt grading 1.06% Cu, 11.7 g/t Ag, 0.026% Mo and 0.67% Zn) and 385 km southeast of the La Granja deposit (3.2 billion tonnes grading 0.62% Cu). The technical information with respect to the above deposits was obtained through the respective companies' public disclosure documents available on SEDAR.
About Condor Resources Inc.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of gold and copper projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long term objective is the discovery of a major new gold and/or base metal deposit, and its business plan offers shareholders access to an exciting and growing portfolio of discovery stage properties, including six 100% owned projects in Chile, and seven projects in Peru, each offering a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact Timea Carlsen at 1-866-642-5707, or by email at: email@example.com
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Corporation does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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