|September 12, 2011|
High Grade Silver Results at San Martin, Peru
|Highlights include 3490 g/t silver and 3.1 g/t gold over 2m, and 3240 g/t silver and 1.97 g/t gold over 4m|
Vancouver, B.C., September 12, 2011 - Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to announce additional assay results from 145 recent samples on its 100% owned San Martin precious metals property in Orcopampa -- Caylloma precious metals belt in southern Peru.
On the San Martin Property, Cretaceous-aged quartzites have been hydrothermally brecciated and strongly silicified over an area approximately 700 by 100 meters. The quartz-barite matrix silicified breccia has been oxidized, but local patches of disseminated grey sulphides are preserved. Chip samples from two separate locations within the breccia include peak highs of 3.1 g/t Au and 3490 g/t Ag over 2m and 1.97 g/t Au and 3240 g/t Ag over 4m. This new discovery has never been previously sampled or drill tested.
Assays from the 145 rock chip channel samples at San Martin, which averaged 2 metres in width, continue to confirm and expand the zone of anomalous gold and silver values. A total of 99 of these samples (68% of the total) returned silver assays with values in excess of 15 grams per tonne (g/t) silver (Ag), of which 53 samples returned silver assays greater than 50 g/t Ag, and 26 samples returned silver assays greater than 100 g/t Ag. Peak silver highs within the breccia include 552 g/t Ag, 824 g/t Ag, 1830 g/t Ag, 3240 g/t Ag and 3490 g/t Ag over 2 meters. A total of 15 of the 145 rock chip channel samples returned gold values in excess of 0.5 g/t gold (Au), with 9 samples which returned gold assays greater than 1 g/t, including peak highs of 2.67 g/t Au, 2.73 g/t Au and 3.1 g/t Au.
In addition, the anomalous silica-barite silver-gold zone contains elevated bismuth and antimony pathfinder values, while base metal values are low. The silver-gold mineralized hydrothermal breccia zone is interpreted to be exposed within an erosion window through the volcanic cover and potential exists to expand the area of mineralization sampled on surface. All samples were collected and prepared for shipment under the supervision of Condor's geologists and forwarded for analysis to ALS Minerals in Lima, Peru, an ISO certified laboratory.
Condor management continues to work closely with the local community. The Company plans to conduct an IP/Resistivity geophysical survey as soon as possible with the objective of identifying extensions of the mineralized system under the interpreted younger volcanic and glacial-fluvial cover.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of precious and base metals 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 precious/base metals deposit and its business plan offers shareholders access to an exciting portfolio of thirteen properties in Peru and Chile, 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 778-998-2473, or by email at: email@example.com
Dr. Richard Culbert is the Qualified Person under NI 43-101 who has approved the technical content of this news release.
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.
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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