Welcome!

News Feed Item

Condor Resources Inc.: First Deep Hole at Soledad Project, Peru, Intersects 174m of 4.4 g/t AuEq

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/03/14 -- Condor Resources Inc. - ("Condor" or the "Company") (TSX VENTURE:CN) is very pleased to provide the third report on the 2,084 metre diamond drill program recently completed 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.

Hole 9 (SDH-009) tested Breccia #1 and was drilled at a steep angle (80 degrees ) below, and from the same setup, as SDH-001. The hole was planned to test for possible higher grade feeder zones and indications of underlying porphyry mineralization.

SDH-009 intersected 174m of mineralized breccia (from 92m to 266m) that averaged 4.4 g/t AuEq (0.74 g/t Au, 114 g/t Ag, and 1.2% Cu). SDH-009 intersected three zones of strong quartz-tourmaline-sulphide mineralization, as shown below in Table 1, and included a deep high grade intersection of 29m of 9.8 g/t AuEq (1.85 g/t Au, 301g/t Ag, and 2.1% Cu) starting at 236m.

Table 1: Summary of Significant Intersections, Hole 9


----------------------------------------------------------------------------
Hole      Target       from   to Width(i) Au g/t  Ag g/t  Cu %  AuEq g/t(ii)
----------------------------------------------------------------------------
SDH-009   Breccia #1     92  266      174   0.74   114.2  1.18           4.4
----------------------------------------------------------------------------
Includes                 92  118       26   0.84   134.3  2.06           6.2
----------------------------------------------------------------------------
                        141  207       66   0.67   107.8  1.36           4.5
----------------------------------------------------------------------------
                        236  265       29   1.85   301.0  2.05           9.8
----------------------------------------------------------------------------
(i)True widths are unknown, and shapes are irregular, but at 200m below     
surface, the true horizontal width for the semi-circular Breccia #1 is      
estimated at 35 to 40m.                                                     
(ii)AuEq assumes US $1200/oz gold, US $18.25/oz silver, US $2.85/lb copper, 
and 100% recovery.                                                          

For a location map of holes one through twelve, visit our website at: http://www.condorresources.com/i/maps/SOLEDAD-DRILL-HOLES-1-to-7-June-16-2014.jpg.

Mariana's geologists describe the Breccia #1 clasts as mostly andesite with intense quartz-sericite alteration in a quartz-tourmaline-sulphide matrix. Matrix sulphides include pyrite, chalcopyrite, galena and sphalerite. The absolute and relative gold and silver values increase with depth from 170m to 265m. Breccia clast alteration, increasing veinlets, and increasing copper and gold/copper ratios up to 250m below surface are interpreted to indicate possible mineralized porphyry beneath the breccia.

Further drilling results are expected shortly for SDH-011 and SDH-0012; SDH-010 was abandoned at about 55m due to technical problems. Of particular interest is SDH-012, a near vertical hole, drilled to 437m depth in Breccia #5, to also test for possible higher grade feeder zones and indications of underlying mineralized porphyry associated with the cluster of mineralized breccias expressed at surface within the roughly 1 km diameter area of interest.

Ever Marquez, Condor's Vice President of Exploration, stated "The first stage of the drill program has successfully confirmed the potential for bulk tonnage, with gold, copper, and silver confirmed at Breccia #6 (76m of 1.0 g/t AuEq) and Breccia #5 (96m of 1.5 g/t AuEq). We look forward to pending results from deep hole SDH-012 in Breccia #5 to confirm the potential for porphyry mineralization at depth."

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.

Quality Assurance/Quality Control: Mariana, the operator of the drill program have advised as follows: Drilling was performed by Energold Drilling Peru SAC utilizing an S-2 hydraulic portable diesel rig. All technical information for the Soledad project is obtained and reported under a quality assurance and quality control program. Samples are shipped to and assayed by ALS Chemex Laboratory in Lima, a laboratory whose quality control system complies with International Standards ISO 9001:2000 and ISO 17025:2005. A four-acid digestion system with 33 element ICP-AES analysis is conducted on all samples, with silver, lead and zinc being re-analyzed with atomic absorption spectrometry method when analyzing over the ICP limits. Gold is assayed using a fire assay with an atomic absorption spectrometry finish. Systematic assaying of sample duplicates and commercially prepared blanks is performed for analytical reliability. Screen fire assays for gold may be carried out on selected samples. A secure chain of custody is maintained in transporting and storing of all samples.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
SaaS companies can greatly expand revenue potential by pushing beyond their own borders. The challenge is how to do this without degrading service quality. In his session at 18th Cloud Expo, Adam Rogers, Managing Director at Anexia, discussed how IaaS providers with a global presence and both virtual and dedicated infrastructure can help companies expand their service footprint with low “go-to-market” costs.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...