Condor Resources Inc. announce that its ongoing generative regional exploration program in South America has resulted in the discovery and staking of a new precious metals occurrence in northern Peru in the same prolific volcanic belt that is host to Barrick Gold Corporation’s Pierina and Alto Chicama gold mines.
Located 45 km south of the Peirina mine in the Cordillera Negra metallogenic province in the central Peruvian Andes, Condor’s new 100% owned Quriurqu project is a high sulphidation gold-silver epithermal system, as evidenced by alteration assemblages and associated pathfinder minerals hosted in structures and hydrothermal breccias within Tertiary age dacitic ignimbrites.
Discovered by Condor’s prospecting team, initial reconnaissance mapping has been carried out and 64 rock chip channel samples have been collected to date and analyzed by ALS Chemex laboratories in Lima, Peru. Gold and silver assays range from negligible to 5.9 g/t Au and 143 g/t Ag. A total of 57 of the 64 samples returned anomalous gold values in excess of 50 ppb, including 27 samples greater than 500 ppb and 18 samples in excess of 1 g/t Au. Detailed mapping and sampling have been scheduled for the 3 sq. km. property. Condor geologists believe that Quriurqu could host a disseminated bulk tonnage gold-silver deposit at depth. No previous sampling or other exploration has ever been conducted at Quriurqu. The project has never been drill tested.