Condor Resources Inc.: Drilling Confirms Mineralization at Soledad Gold-Copper-Silver-Project, Peru
21 May 2014 - 2:27AM
Marketwired
Condor Resources Inc.: Drilling Confirms Mineralization at Soledad
Gold-Copper-Silver-Project, Peru
33m intersection of 1.0% Cu, 3.2 g/t Au, and 23 g/t Ag
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2014) -
Condor Resources Inc. - ("Condor" or the "Company")
(TSX-VENTURE:CN) is pleased to provide the first report on the
2,000 metre diamond drill program currently being conducted by
Mariana Resources Ltd. ("Mariana") on the Company's 100% owned
Soledad project. Soledad is located in the Cordillera Negra
metallogenic province approximately 35 km south of the Pierina
gold-silver mine, Peru.
There are eight known breccia pipes at Soledad, which pipes
indicate the potential for intrusive related mineralization at
depth. Mariana's first hole, SDH-001, located in Breccia #1, was
planned as a validation hole, and twinned DDH-005 drilled by Rio
Amarillo in 1996. SDH-001 was drilled to a depth of 100m, and
intersected breccia-hosted sulphide mineralization. The hole
reported a 33m intersection of 1.0% Cu, 3.2 g/t Au, and 23 g/t Ag
starting at 58m, and a shorter interval, starting at 59m, reported
21m of 1.5% Cu, 4.7 g/t Au, and 34 g/t Ag. The depth and grade are
similar to the 1996 results, which reported 28.5m of 1.1% Cu, 5.0
g/t Au, and 28 g/t Ag. True widths of the mineralized intercepts
have not been determined.
After completion of SDH-001, the drill was moved north
approximately 1 km to the Cima Blanca target area, which was
interpreted as a high sulphidation epithermal zone. SDH-002 was
drilled to a depth of 88.5m and was located to test a prominent
chargeability anomaly coinciding with a zone of argillic alteration
at surface. SDH-002 intersected pyritic breccias related to
structures with kaolinite alteration from 19m to 43m, and
granodiorite with propylitic alteration and disseminated pyrite
from 43m. Assay results are pending on SDH-002.
SDH-003 was drilled approximately 100m east of SDH-002 in the
centre of the argillic alteration zone, and intersected
approximately 132m of weak molybdenite and moderate pyrite
mineralization (veins, disseminations, stockworks hosted in
granodiorite), and associated quartz-sericite alteration, starting
at 127m. The initial interpretation of the SDH-003 intersection is
that of a high level porphyry system. Total depth of SDH-003 was
268.5m. Assay results are pending from SDH-003.
SDH-004 and SDH-005 were both drilled in Breccia #3, one of the
8 breccia pipes on the Soledad property. Logging and sampling is
currently underway on these holes. Only Breccia #1 was drilled
previously in 1996.
Refer to Figure 1 of this news release for the planned location
of the 2014 drill holes.
The Company currently has three of its properties under active
exploration by third parties, and looks forward to a steady flow of
results from these programs. In addition, the Company is actively
seeking partners on its other projects, and is reviewing new
opportunities identified by its Lima based exploration team.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer
Dr. Richard Culbert is the Qualified Person under NI 43-101 who
has approved the technical content of this news release.
To view FIGURE 1: SOLEDAD MAP SHOWING 2014 PLANNED DRILL HOLE
LOCATIONS, please visit the following link:
http://media3.marketwire.com/docs/CondorResources.pdf.
Cautionary Statement Regarding Forward-Looking Information: All
statements, trend analysis and other information contained in this
press release relative to markets about anticipated future events
or results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. Forward-looking statements are subject to
business and economic risks and uncertainties and other factors
that could cause actual results of operations to differ materially
from those contained in the forward-looking statements.
Forward-looking statements are based on estimates and opinions of
management at the date the statements are made. The Company does
not undertake any obligation to update forward-looking statements
even if circumstances or management's estimates or opinions should
change. Investors should not place undue reliance on
forward-looking statements.
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.
Condor Resources
Inc.1-866-642-5707info@condorresources.comwww.condorresources.com
Condor Resources (TSXV:CN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Condor Resources (TSXV:CN)
Historical Stock Chart
From Sep 2023 to Sep 2024