Huiñac Punta

Update:

Condor acquired the original 10 sq km concession in 2016 by staking, and in late 2017 acquired an additional concession by staking. The project is prospective for skarn hosted minerals.

The application process for the Declaración de Impacto Ambiental ("DIA") for the Huiñac Punta project was commenced in January 2017.

Location & Ownership:

The Huiñac Punta project is located on the eastern flank of the Mesozoic polymetallic carbonate sediment host belt in north-central Peru at elevations ranging from 3800 to 4400m, approximately 260 km north-northeast of Lima in the Department of Huanuco. Huiñac Punta is approximately 80 km south-east of the Antamina mine.

The 20 sq km project (approximate) is 100% owned by Condor, subject to a 0.5% NSR held by Sandstorm Gold Ltd.

Recent Work:

The area of interest shows pervasive silicification in limestones with dark sulfides and oxides; de-calcified limestone with strong iron-oxides; and silicified and brecciated limestone with iron-oxides, copper oxides, manganese, and greyish sulphides.

In October 2017 an initial reconnaissance and sampling program was undertaken by Condor. A total of 26 rock chip channel samples were collected over an area of interest approximately 500m by 800m. Eighteen of the twenty-six samples were 2m long rock chip samples from outcrop/bedrock, while eight of the samples were 1m long rock chip samples taken from rocks in dump piles, which rocks are assumed to have been sourced from the old adits. As the rock chip samples were selected samples taken from outcrop/bedrock, or from the rocks in the dump piles, they may not be representative of the mineralization hosted on the project.

Five of the samples reported high silver values (greater than 500g/tonne); with the highest silver values (4115 g/tonne and 3225 g/tonne) recorded in the bedrock samples. Anomalous copper results were also noted, with reported values up to 2.7% copper (dump sample). Anomalous zinc values were present in all samples, up to a value of 0.6% zinc (bedrock sample), and anomalous cobalt up to 0.3% (dump sample).

Ever Marquez made the following field observations: "The alteration assemblages have replaced the limestone sequences in contact with the granitic intrusive, with occurrences of pervasive silicification in the lower part of the limestone, with massive dark sulphides and oxides. In the upper part of the limestone, we see brecciated decalcifications, with minor sulphides and oxides. I would consider Huiñac Punta as a new discovery in the Mesozoic polymetallic carbonate sediment host belt of Central Peru, with great potential for bulk tonnage silver, copper, and zinc resources."

A follow up program of mapping and sampling was completed in March 2018, and a further 145 samples (typically 2m long rock chip samples) were collected.