|April 19, 2018|
Recent Results at Huiñac Punta Confirm High Grade Silver Mineralization
|Vancouver, B.C., April 19, 2018 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to provide results from Condor's follow up mapping and sampling program on its Huiñac Punta project. The recent field work was designed to provide a better assessment of the scope and consistency of the carbonate replacement mineralization, hosted in Jurassic limestones. |
The Huiñac Punta project is located on the eastern part of the Mesozoic polymetallic carbonate replacement belt in central Peru, which metallogenic belt is host to the Antamina Mine approximately 65 km to the north-west of the project. Huiñac Punta covers approximately 20 sq km and is 100% owned by Condor, subject to a 0.5% NSR held by Sandstorm Gold Ltd.
Results of a preliminary reconnaissance and sampling program (26 samples) were published in the January 8, 2018 news release. The initial sampling identified several high grade silver results (up to 4,115 g/t), associated with highly anomalous copper, zinc, lead and cobalt.
The follow up mapping and sampling program was completed in March, when an additional 145 rock chip channel samples (all 2 meters in length) were collected. Sampling and mapping was conducted to define the extent and geometry of alteration within the brecciated limestone host, which occurs in the contact area with a weakly altered granitic intrusive stock. Two zones approximately 500m apart contain evidence of old Spanish workings and small adits, where the more massive sulphide zones are exposed at surface. These historic zones produced many of the high grade silver samples.
From the 145 two-metre chip samples in this sampling program, silver values ranged up to 1,295g/t Ag, with 24 of the samples exceeding 100 g/t Ag. Lead values ranged up to 1.9% Pb, with 14 of the samples exceeding 0.1% Pb. Zinc values ranged up to 1.0% Zn, with 15 of the samples exceeding 0.1% Zn. Copper values ranged up to 0.21 % Cu with four of the samples exceeding 0.1% Cu. Anomalous cobalt results were returned from the recent sampling program, with maximum value of 134 ppm Co.
Alteration has developed within the fine grain brecciated limestones in contact with the medium grained weakly altered granitic intrusive. The alteration assemblage with the better silver mineralization consists of a dark coloured lower zone of pervasively silicified brecciated limestone hosting disseminated massive dark coloured sulphides and oxides. This silicified zone has been observed in outcrop to cover an approximate area of about 700 metres by about 400 metres in width. The historic Spanish workings are located in two smaller areas within this zone, where there is more obvious greyish-dark sulphides occurring as patches. The upper part of the limestone is also brecciated and decalcified, with minor disseminated sulphides and oxides largely restricted as infill in the breccia matrix. This area of decalcified breccia is thought to be an alteration halo to the more intensely mineralized alteration.
Pictures of the silicified brecciated limestone alteration at Huiñac Punta can be seen on our website: http://www.condorresources.com/s/ProjectGallery.asp?ReportID=823268
The follow up sampling has confirmed the mineralized system hosts potential for discovery of a bulk tonnage, disseminated silver-base metal deposit, related to metasomatic carbonate replacement.
Condor is an explorer and project generator focused exclusively on Peru, and our objective is the discovery of a major new precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration team.
ON BEHALF OF THE BOARD
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at email@example.com
Mr. Brian D. Game, P.Geo, is the Qualified Person under NI 43-101 who has approved the scientific and technical content of this news release.
Quality Assurance/Quality Control: The sampling program was undertaken by Company personnel under the direction of Ever Marquez, Condor's VP Exploration. A secure chain of custody is maintained in transporting and storing of all samples. Samples were delivered to and assayed by SGS Del Peru S.A.C. in Lima, a laboratory whose quality control system complies with International Standards OHSAS 18001, ISO 14001 and ISO 9001. Analysis by four acid digestion system with 51 element ICP-MS analysis was conducted on all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required. Copper and silver samples over the upper detection limit of ICP-MS were re-analyzed by atomic absorption spectrometry. Systematic assaying of sample duplicates and commercially prepared blanks and standards was performed for analytical reliability by the laboratory. Rock chip samples from outcrop/bedrock are selective by nature and they may not be representative of the mineralization hosted on the project.
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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