VANCOUVER, B.C., June 21, 2017 (GLOBE NEWSWIRE) -- Condor Resources Inc. - (“Condor” or the “Company”) (TSXV:CN) is pleased to announce the acquisition of a 100% interest in the Andrea epithermal gold-silver project in the Department of Ayacucho, approximately 480 km south-east of Lima in the south-central Andes. The mineral rights on the 8 sq km property were recently acquired by application to the Peruvian Ministry of Energy and Mines. Andrea is approximately 20 km north of the Breapampa mine owned by Minas Buenaventura, and situated at elevations ranging from 4100 to 4600m.
Condor acquired the Andrea project because it hosts a compelling high sulphidation epithermal type gold and silver target within a core area approximately 800m in diameter. Gold and silver mineralization (up to 4.2 g/t Au) is hosted in hydrothermal breccias with vuggy silica. The surface area exposure of the largest siliceous breccia is about 200m in diameter, with a halo of advanced argillic assemblages. The alteration and mineralization is hosted within Miocene to Pliocene aged Tertiary volcanics.
“I am excited by the exploration potential of our newly acquired Andrea project,” stated Ever Marquez, Condor’s VP of Exploration, “Based on my experience in the south-central Andes, these high sulphidation type targets can yield significant discoveries when explored with drilling; we do not believe this project has ever been drilled.”
An initial reconnaissance mapping effort was recently completed, and 117 rock chip channel samples were collected and analyzed by ALS Peru S.A. in Lima. Exploration sampling and mapping was concentrated in the central part of the project within a much larger advanced argillic alteration envelope. The sample results also confirmed the presence of anomalous pathfinder elements typical of high sulphidation epithermal systems. Condor geologists found no evidence of previous exploration activities or small scale mining on the concession.
Gold assays in the samples range from negligible to 4.2 g/t Au, with 23 of the samples showing anomalous gold values exceeding 50 ppb, including 13 samples exceeding 500 ppb, and 7 samples greater than 1 g/t. Samples taken in the 800m diameter breccia ‘core area’ – 81 of the 117 samples – exhibited more consistent gold values, ranging from 5 ppb to 4180 ppb, and averaged 41 ppb. Measurable silver values were present in all but 6 of the 117 samples, but none of the silver assays exceeded 1 g/t.
More details of the Andrea project can be found on our website at www.condorresources.com/s/ProjectAndrea.asp.
Condor is an explorer and project generator focused exclusively on Peru, and our objective is the discovery of a major new precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration team.
