Royal
The 50 sq km Royal project is located roughly 300km south of Santiago, and about 65km to the south of the Becker project, and covers a large alteration zone and a corresponding rock geochemical Au-Cu-Mo anomaly in quartz-sericite altered sediments, exposed around the edge of a 2 km wide covered basin.Localized quartz-feldspar porphyry ('QFP') intrusive and quartz-limonite stockwork veining has been recently discovered intruding the sedimentary sequence along the NW side of the basin. Sampling by Arauco Resources in 1995 consisted of some 80 samples. Of these, a total of 40 returned copper values in excess of 100 ppm, with spot highs of 801, 868, 1951 and 2664 ppm (0.27%). Molybdenum returned very high geochemical values. Considered anomalous in the 10 to 15 ppm range, 35 samples returned values in excess of 50 ppm Mo, with a peak value of 1187 ppm (0.12% Mo). The highest gold values returned 1.09 and 3.78 g/t Au.
The alteration zone and related anomalous rock geochemistry appear to be controlled by the intersection of N-S and NW-SE linears, which provided the 'plumbing system' for the QFP intrusive. The majority of this large Au-Cu-Mo target is under cover and open for extension to the south.
The Royal project covers a large rock geochemical Cu-Mo-Au occurrence in quartz-sericite altered sediments which have been intruded by a quartz-feldspar porphyry intrusive.
In May 2008 Condor granted Galileo Minerals Ltd. an option to earn a 65% interest in the Royal property. To exercise the option, Galileo had to complete work programs aggregating $2 million over 48 months, and make cash payments of $475,000 over 36 months. Galileo were unable to meet their commitments, and in November 2009, the option was terminated.
On the Llancahue project, about 15km to the north-east of the Royal project, Coro Mining Corp. reported a drill intercept of 36m of 2.43% Cu in November 2009.
Condor is actively seeking a joint venture partner for the Royal project.
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