Sol de Oro
Highlights:• 49 sq km in the Cordillera del Condor, one of the most significant emerging and underexplored gold-copper belts in South America, and is host to Kinross' Fruta del Norte gold deposit (inferred reserves* of 13.7M oz Au) in Ecuador. Virtually the entire Cordillera del Condor belt is now staked on both sides of the Ecuador/Peru border. No modern day exploration has ever been conducted on the Sol de Oro property.
• Anomalous gold and base metal values occur on the Sol de Oro property and placer gold was recently discovered in several creeks. The physical characteristics of the gold grains suggest a local source.
• Phyllic-altered (quartz-sericite) float boulders have also been found, containing copper oxides in veinlets and fractures.
• Condor geologists consider the Sol de Oro property to exhibit potential to host economic gold and base metal mineralization.
Prospective for: Gold/Copper
Location:
The 49 sq. km. property comprises a total of 5 mining concessions strategically located 10 kilometres NE of the Company's Condor de Oro project at the intersection of the Cordillera del Condor trend and the Machala metallogenic belt.
Ownership:
Condor has an option to acquire a 100% interest in the Sol de Oro ("Golden Sun") gold and base metals property.
Update:
• A long-term agreement was signed in mid-2010 with the community in which the Sol de Oro property is located and represents one of the first agreements of its kind in the Cordillera del Condor in Peru.
• The Company plans to conduct a work program on the Sol de Oro property towards the end of 2010. The program will include further stream prospecting to attempt to locate the origin of the placer gold as well as the base metal mineralization found in float boulders. Mapping and sampling will also be carried out.
* "Reported reserves are inferred only, and from the websites and public documents of the Companies whose deposits are mentioned."