Welcome To The Condor Resources HUB On AGORACOM

Edit this title from the Fast Facts Section

Message: Condor Resources stakes more Condor de Oro land

Condor Resources stakes more Condor de Oro land

posted on Oct 20, 2009 12:32AM

Condor Resources stakes more Condor de Oro land

2009-10-19 18:17 ET - News Release

Mr. Patrick Burns reports


Condor Resources Inc. has provided an update on the exploration program conducted on the company's Condor de Oro property in Cajamarca province of northern Peru between Sept. 11 and Oct. 2, 2009.

The mapping and prospecting program at the Pucayacu zone led to the discovery of pervasive copper mineralization over a 100-metre rock face situated upstream from an area of historical placer gold workings. Additional staking has been completed, and has expanded the Condor de Oro property to over 102 square kilometres. Assay results from the program are expected by mid-November.

Fieldwork on the property concentrated on the Pucayacu and Yuracyacu zones, the two extensively mineralized copper-gold systems discovered to date on the Condor de Oro project. The Pucayacu zone is located in the southwestern area of the property and the Yuracyacu zone is located in the northeastern area of the property.

The Pucayacu and Yuracyacu zones have never been drill tested by the company or previous explorers.


Mapping and prospecting to extend the area of previously known mineralization led to the new discovery of a near-vertical rock cliff face measuring more than 100 metres vertically, comprising intensely quartz-sericite (phyllic) altered quartz feldspar porphyry (QFP) intrusive exhibiting pervasive copper mineralization throughout, occurring as disseminations in at least three phases of brecciation, as well as on fracture surfaces and in microveinlets and veinlets. Visible mineralization comprises secondary copper oxides along with chalcocite, covellite, bornite and chalcopyrite. Old placer gold workings are evident downstream below this outcrop and a previous rock sample collected down drainage returned an assay of 2.5 grams per tonne gold.


The Yuracyacu mineralized zone is located approximately eight kilometres to the northeast of Pucayacu, and also encountered extensive limonite-stained phyllic altered QFP comprising an estimated 90 per cent of float boulders in all of the drainages prospected over an area measuring approximately four square kilometres. The QFP was subsequently located in outcrop in several locations. The mineralized system remains open in all directions. The geological setting is similar to the geology and style of mineralization at Pucayacu. Intense alteration occurs within breccias and stockwork veining along with quartz-carbonate-sulphides, banded sulphosalts and rhodochrosite. Mineralization occurs as disseminations and locally in quartz vein stockworks as chalcocite, covellite, bornite, chalcopyrite and pyrite. A dacitic stock was also found in outcrop and exhibits intense multiphase hydrothermal events with chalcedonic quartz matrix breccias along with limonites, and banded, drusy, botryoidal quartz carbonate veins containing abundant chalcopyrite, covellite, galena and sphalerite. The style of mineralization is indicative of low to intermediate sulphidation precious metals systems similar to the style of mineralization at the Fruta del Norte deposit, Ecuador.

Previous sampling on the property has indicated a strong correlation between copper mineralization and gold values. A helipad has been cleared on one of the nearby hilltops to facilitate future access to the Yuracyacu zone.

As a result of this latest program, an additional 20 square kilometres have been staked at Yuracyacu to cover the projected extension of the mineralization along the northeastern and eastern boundaries of the property, expanding the total landholdings on the Condor de Oro property to 102.38 square kilometres.

A total of 111 rock chip samples and two stream sediment samples were collected during the program and were forwarded to the full-service ALS Chemex international geochemical laboratory in Lima on Oct. 5, 2009. Results will be released as they become available.

The company has agreed to purchase an 85-per-cent interest in the Condor de Oro property and also has the right to acquire a 100-per-cent interest in the 49-square-kilometre Sol de Oro and 70-square-kilometre Kury Intsa projects located immediately to the north, bringing its total mineral exploration rights to 221 square km on the Peruvian side of the newly emerging and underexplored Cordillera del Condor gold and base metals belt.

We seek Safe Harbor.


New Message
Please login to post a reply