Ocros
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The Ocros property is located 180 km NW of Lima at elevations ranging between 2250 m and 3550 m and on the continental-scale West Fissure fault system, host to majority the of South America's most significant copper resources. The 46 sq km property covers an intensely altered, copper-mineralized target measuring 6 sq km in area, with mineralization presently exposed over a vertical extent of more than 700 m.
Sampling of the property in July 2007 returned widespread and highly anomalous Cu, Au, Ag, Mo, Pb and Zn assays within the area targeted for drilling. A total of 118 of the 128 samples collected (92%) returned values in excess of 100 ppm Cu, including 76 samples (59%) in excess of 500 ppm, 51 samples (40%) in excess of 1000 ppm, 18 samples in excess of 0.5% Cu and 11 samples (9%) assaying more than 1% Cu. High grade "exotic" copper mineralization, comprising secondary copper-rich chrysocolla cementing gravels at the bedrock-gravel interface is also extensively present, representing a second separate high-grade copper exploration target. Past production history includes the mining in the 1970's of several high-grade Cu-Au-Ag-Zn veins peripheral to the large copper-rich system.
A Phase I drill program designed to test the continuity of the highly anomalous surface copper mineralization at depth commenced in November 2007 and finished in April 2008. A total of 7 holes totaling some 2,803 meters of diamond core drilling was completed. The best intercept was found in drill hole OCR-001 with 251.3 m grading 0.15% Cu, including 54 m of 0.41%Cu from 316.0 to 370.0m depth. The remaining holes included OCR-002 with 81.9m grading 0.11%Cu, OCR-003 with 102.0m of 0.11%Cu, OCR-005 with 12.0m of 0.16%Cu, OCR-006 with 10.0m of 0.21%Cu and a second interval deeper in the hole which returned 19.6m grading 0.12%Cu. The seven widely-spaced drill holes at Ocros tested only a small portion of the 2 sq km porphyry copper target.
Condor is actively seeking a joint venture partner for the Ocros property.
Pursuant to the terms of acquisition, Condor holds an undivided 85% interest in Ocros, subject to a 1% NSR in favour of the property vendor. The property vendor retains a 15% interest, and is carried to completion of a Feasibility Study. On publication of a Feasibility Study, the vendor will receive 1m Condor shares.
Drill Results
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