Condor Triples Size of the Huiñac Punta Property
Condor Resources has expanded its Huiñac Punta high-grade silver prospect from 2,000 to 7,200 hectares through uncontested application for additional exploration concessions.
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Rhea-AI Summary
Condor Resources has expanded its Huiñac Punta high-grade silver prospect from 2,000 to 7,200 hectares through uncontested application for additional exploration concessions. The property shows potential for a large carbonate replacement style silver-dominant polymetallic deposit. Surface sampling has revealed significant mineralization, with 28 out of 163 two-metre rock chip samples showing silver grades over 100 g/t, including exceptional grades of 4,115 and 3,225 g/t Ag. Historical Spanish colonial workings are present, with adits containing silver-rich sulfide material. The company is awaiting final drill permits, with the Initiation of Activities document expected shortly.
Positive
- Property size tripled from 2,000 to 7,200 hectares
- High-grade silver samples with bonanza grades up to 4,115 g/t Ag
- 28 out of 163 samples showed silver grades >100 g/t
- Final drill permit expected imminently
Negative
- None.
Details
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VANCOUVER, BC / ACCESSWIRE / November 11, 2024 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to report that it has acquired additional exploration concessions at its Huiñac Punta high-grade silver prospect adjacent to its current project significantly expanding the property size from 2,000 to 7,200 hectares (Ha). The additional concessions acquired by uncontested application add 5,200 Ha of prospective ground to the project land package. Management believes Huiñac Punta has the potential to host a large, carbonate replacement style (CRD) silver-dominant polymetallic mineralized body.
Based on sampling of existing surface exposures, mineralization includes high-grade Ag and elevated Cu, Zn, Pb and Co values. Of 163 two-metre rock chip samples collected by Condor, 28 samples reported silver grades greater than 100 g/t and included bonanza grades in two-metre chip samples of 4,115 and 3,225 g/t Ag. Evidence of historical workings from Spanish colonial times is present with several accessible historical adits showing evidence of the elevated silver values associated with disseminated grey and black breccia-hosted sulfide material consisting of sphalerite, galena, chalcocite, bornite, covellite and undetermined lead and silver sulphosalts.
Chris Buncic, President & CEO of Condor, commented, "the acquisition of these additional concessions provides Condor with a significant land package at Huiñac Punta, where we hope to make a new district-scale silver and base metals discovery. Adding to our land package was a significant step to ensure the company's exposure to this resource and development potential as we set about our preparing for the maiden drill program at the project. Our latest understanding is that the Initiation of Activities document, in effect the final drill permit, should be forthcoming in a matter of days."
Figure 1: Pre-Existing and New Exploration Concessions at the Huiñac Punta Project
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.
About Condor Resources Inc.
Condor Resources is a precious and base metals exploration company focused on advancing its projects in Peru. The Pucamayo project, an 8,500 Ha property in Ica, Peru, contains 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.
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 accesswire.com
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