Bonanza Grade Silver Samples At Huinac Punta Project

VANCOUVER - Condor Resources Inc. - reported summary results from the recent reconnaissance work at the Huinac Punta project in the Huanuco Department, Peru. Huinac Punta is located on the eastern part of the Mesozoic polymetallic carbonate sediment host belt in central Peru. “The mineral deposit in Antamina is a skarn type of deposit containing copper-zinc, silver, molybdenum and bismuth and it is currently considered the largest of its kind in the world.” 

Hunac Punta covers approximately 20 sq km acquired by staking, and is 100% owned by Condor, subject to a 0.5% NSR held by Sandstorm Gold Ltd. Topography is gently rolling to steep, with elevations ranging from 3800m to 4300m. Discreet evidence of old Spanish workings – small dumps and several collapsed adits – are not obvious and are hidden by modest grass vegetation.

In October an initial reconnaissance and sampling program was undertaken by Condor, under the guidance of Ever Marquez, VP of Exploration. A total of 26 rock chip channel samples were collected over an area of interest approximately 500m by 800m. Eighteen of the twenty-six samples were 2m long rock chip samples from outcrop/bedrock, while eight of the samples were 1m long rock chip samples taken from rocks in dump piles, which rocks are assumed to have been sourced from the old adits. As the rock chip samples were selected samples taken from outcrop/bedrock, or from rocks in dump piles, they may not be representative of the mineralization hosted on the project.

Five of the samples reported high silver values (greater than 500g/tonne); with the highest silver values (4115g/tonne and 3225 g/tonne) recorded in the bedrock samples. Anomalous copper results were also noted, with reported values up to 2.7% copper (dump sample). Anomalous zinc values were present in all samples, up to a value of 0.6% zinc (bedrock sample), and anomalous cobalt up to 0.3% (dump sample).

Ever Marquez made the following field observations: “The alteration assemblages have replaced the limestone sequences in contact with the granitic intrusive, with occurrences of pervasive silicification in the lower part of the limestone, with massive dark sulphides and oxides. In the upper part of the limestone, we see brecciated decalcifications, with minor sulphides and oxides. I would consider Huinac Punta as a new discovery in the Mesozoic polymetallic carbonate sediment host belt of Central Peru, with great potential for bulk tonnage silver, copper, and zinc resources.”

Subsequent to receipt of the results, Condor commenced the application process for the Declaracion de Impacto Ambiental (DIA) for the Huinac Punta project.