Condor Confirms Copper Molybdenum Porphyry Discovery at Rio Bravo With Newly Acquired Data

Rhea-AI Summary

Condor Resources has confirmed a significant copper-molybdenum porphyry discovery at its 100%-owned Rio Bravo project, located 112 km southeast of Lima, Peru. The confirmation comes from newly acquired historical data from a major mining company that previously owned the project.

The data includes results from 11 drill holes totaling 5,729m from 2012, showing significant mineralization intervals. Notable intersections include: 220m at 0.32% Cu and 275 ppm Mo, 324m at 0.32% Cu and 199 ppm Mo, and 312m at 0.29% Cu and 329 ppm Mo.

After reviewing the comprehensive data package, which includes soil geochemistry, ground geophysics, and detailed geological mapping, Condor interprets potential for a higher-grade core approximately 400m southeast and deeper from previous drilling locations. The mineralization system remains open in all directions, with the main core of the intrusive porphyry still untested.

Positive

• Significant copper-molybdenum mineralization confirmed through historical drilling
• Extensive mineralization intervals: 220-324m with grades of 0.29-0.32% Cu
• Project located in prolific South-Central Peru porphyry copper-molybdenum belt
• Mineralization system open in all directions with untested main core
• 100% ownership of the project

Negative

• Historical data from 2012 may not conform to current NI 43-101 standards
• Main core of the porphyry system remains untested
• Additional drilling required to confirm higher-grade core potential

Highlights:

• Historical drilling, geochemical and geophysical data recently obtained from a major mining company that previously controlled the Rio Bravo project confirms intersections of significant porphyry copper and molybdenum mineralization associated with a largely untested target.

• Three historical drill holes completed in 2012 encountered 200+ m intercepts of mineralization:

  • DDH-01 intersected 220 m grading 0.32% Cu and 275 ppm Mo (0.51% CuEq)*

  • DDH-06 intersected 324 m grading 0.32% Cu and 199 ppm Mo (0.47% CuEq)*

  • DDH-08 intersected 312 m grading 0.29% Cu and 329 ppm Mo (0.54% CuEq)*

• After a thorough review of this newly acquired data package including surface mapping rock geochemistry and ground geophysics, Condor interprets the potential for discovery of a higher-grade core of the Rio Bravo porphyry system as being centered approximately 400 m southeast and somewhat deeper from the location of the prior encouraging drilling activity.

• Rio Bravo is a highly marketable project for Condor creating accretive value for our shareholders

VANCOUVER, BC / ACCESS Newswire / February 3, 2025 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to report the results of the evaluation of historical technical data acquired from a major international mining company that had previously owned and operated the Company's 100%-owned Rio Bravo project. Rio Bravo is located 112 km south- east of Lima, in the province of Yauyos, and east of the city of Cañete, in the part of the prolific South-Central Peru porphyry copper-molybdenum belt. The data set includes 11 drill holes of historical drilling from 2012 totaling 5,729 m together with drill logs, assays, core photographs, and technical studies including soil geochemistry; ground geophysics, magnetometry, radiometry, and induced polarization, and 20 km² of detailed geological mapping.

A review of the historical data together with the Company's own surface work at Rio Bravo highlights potential for definition a significant new deposit with significant grades of copper and molybdenum predominantly in primary sulfides, occurring from surface and below an observed leached cap. Historical drilling was carried out in the contact zone between the observed assemblages, with the porphyry-type mineralizing system open in all directions. Six significant intercepts include the following:

Table 1: Select historical drill holes from Rio Bravo project (c. 2012)

DH	From (m)	To (m)	Width (m)	Cu (%)	Mo (ppm)	CuEq (%)*
DDH-01 Including	8 138	228 154	220 16	0.32 0.49	275 437	0.52 0.80
DDH-02	122	172	50	0.38	40	0.41
DDH-04	20	62	42	0.30	350	0.55
DDH-06 Including	10 40 128	334 54 146	324 14 18	0.32 0.63 0.56	199 215 264	0.46 0.78 0.75
DDH-07	6	106	100	0.25	170	0.37
DDH-08	6	318	312	0.29	329	0.52

*CuEq (%) based on prices Cu = $4.13/lb, Mo = $29.36/lb

Drilling was carried out in a relatively restricted portion of the NW sector of the main Cu-Mo core target, based on a comprehensive review of the data by Condor's exploration team, historical drilling has targeted the contact zone but the main core of the intrusive porphyry remains totally untested.

Figure 1:Copper surface distribution, with drilled and undrilled portion of porphyry core

Figure 2:Molybdenum surface distribution, with drilled and undrilled portion of porphyry core

Figure 3:Cross section (A-A') model of porphyry, showing the core of potassic alteration and with undrilled zone at Central portion.

Ever Marquez, VP Exploration, commented "Rio Bravo represents a significant new copper-molybdenum porphyry-type discovery in South Central Peru, where the western crustal suture of the Central Andes controls the Cretaceous-Tertiary copper belt that hosts Rio Bravo. For Condor and its shareholders, this property represents a significant opportunity for future growth".

The main core of the porphyry-type alteration and elevated copper and molybdenum in rock samples outcrops along 1 km of the main ravine within an alteration halo of several kilometers in size, implying potential for discovery of a large tonnage bulk mineable system. Potassic type alteration assemblages consist of quartz, sericite, secondary biotite, with stockworks of multiple veinlet events, mineralized with pyrite, chalcopyrite, bornite, molybdenite both disseminated and in veinlets interpreted as the core of the porphyry-type system. The external interpreted propylitic-type halo contains alteration assemblages of quartz, sericite, chlorite, magnetite, minor pyrite, chalcopyrite, with stockworks and intense secondary iron oxides. Secondary copper carbonates and silicates are found throughout both alteration assemblages.

The alteration and mineralization system is hosted within multiple porphyritic intrusion events with hornblende and feldspar phenocrysts, which intruded to Jurasic - Cretaceous rocks of the coastal batholith as well as sedimentary rocks of the Jurassic and Cretaceous.

Technical Disclosure/Qualified Person

The scientific and technical information in this press release has been reviewed and approved by Dr. Quinton Hennigh, (P.Geo., PhD), a Qualified Person as defined in National Instrument 43-101 and a Director of Condor Resources. Readers are cautioned that the technical information provided in this press release is of a historical nature and does not necessarily conform to the updated standards set out by NI 43-101 and thus should not be solely relied upon. The data provided by the major mining company was not accompanied by a Qualified Person statement that verified the historical values as current.

About Condor Resources Inc.

Condor Resources is a precious and base metals exploration company focused on its portfolio of projects in Peru. The Company's flagship project, Pucamayo, is an 85 km² property containing a high sulfidation epithermal system with disseminated precious metals mineralization with a large lithocap alteration visible at surface. The Huiñac Punta project, a 7,200 Ha property in Huanuco, Peru, has the potential to host a large carbonate replacement style (CRD) silver-dominant polymetallic mineralized body with the potential for discovery of a bulk tonnage silver and base metals deposit. The Company has optioned several large projects to partners who continue to advance these projects. The Company's award-winning exploration team in Peru has a long history of success in discovering and advancing high quality exploration projects and managing the social aspects of its exploration activities.

For more information, please visit the Company's website at www.condorresources.com.

Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.

ON BEHALF OF THE BOARD

Chris Buncic
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such 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.

SOURCE: Condor Resources, Inc.

View the original press release on ACCESS Newswire

FAQ

What are the key copper-molybdenum intersections reported at Condor's Rio Bravo project (CNRIF)?

The key intersections include 220m at 0.32% Cu and 275 ppm Mo, 324m at 0.32% Cu and 199 ppm Mo, and 312m at 0.29% Cu and 329 ppm Mo from 2012 drilling.

Where is Condor's Rio Bravo project located and what is its ownership status?

The Rio Bravo project is 100% owned by Condor and is located 112 km southeast of Lima, in the province of Yauyos, Peru, within the South-Central Peru porphyry copper-molybdenum belt.

What is the potential size of the Rio Bravo mineralization system?

The main core of the porphyry-type alteration extends along 1 km of the main ravine within an alteration halo of several kilometers, suggesting potential for a large tonnage bulk mineable system.

What are the next steps for Condor Resources (CNRIF) at Rio Bravo?

Based on the data review, Condor plans to explore a potential higher-grade core approximately 400m southeast and deeper from previous drilling locations, as this area remains untested.