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
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.