Condor Provides Update on Exploration Priorities and Plans
Condor Resources (TSXV:CN) has announced updates to its exploration activities in Peru, with planned drilling programs at Huinac Punta (1,500m) and Pucamayo (2,000m) scheduled for Spring 2025. The company is shifting focus due to delays in the Pucamayo South East DIA application.
At Huinac Punta, the company expanded its property from 2,000 to 7,200 hectares, with high-grade silver sampling results showing values up to 4,115 g/t Ag. The Pucamayo East 2023 drill program confirmed hydromagmatic centers with encouraging Au-Ag values, including intersections of 72.5m grading 0.83 g/t AuEq.
The company also highlighted progress at Rio Bravo, where historical drilling revealed significant copper-molybdenum mineralization with intercepts including 220m grading 0.51% CuEq. At Cobreorco, a joint venture with Teck Resources offers potential for a porphyry/skarn system discovery, with Teck having the option to earn up to 75% interest through exploration expenditures and cash payments.
Condor Resources (TSXV:CN) ha annunciato aggiornamenti sulle sue attività di esplorazione in Perù, con programmi di perforazione previsti a Huinac Punta (1.500m) e Pucamayo (2.000m) programmati per la primavera del 2025. L'azienda sta cambiando focus a causa dei ritardi nella domanda DIA per Pucamayo Sud Est.
Presso Huinac Punta, l'azienda ha ampliato la sua proprietà da 2.000 a 7.200 ettari, con risultati di campionamento di argento ad alto grado che mostrano valori fino a 4.115 g/t Ag. Il programma di perforazione Pucamayo Est 2023 ha confermato centri idromagmatici con valori incoraggianti di Au-Ag, inclusi incroci di 72,5m con un grado di 0,83 g/t AuEq.
L'azienda ha anche evidenziato progressi a Rio Bravo, dove perforazioni storiche hanno rivelato una significativa mineralizzazione di rame-molibdeno con intercettazioni che includono 220m con un grado di 0,51% CuEq. A Cobreorco, una joint venture con Teck Resources offre potenziale per una scoperta di sistema porfirico/skarn, con Teck che ha l'opzione di guadagnare fino al 75% di interesse attraverso spese di esplorazione e pagamenti in contante.
Condor Resources (TSXV:CN) ha anunciado actualizaciones sobre sus actividades de exploración en Perú, con programas de perforación planificados en Huinac Punta (1,500m) y Pucamayo (2,000m) programados para la primavera de 2025. La empresa está cambiando su enfoque debido a retrasos en la solicitud DIA de Pucamayo Sureste.
En Huinac Punta, la empresa amplió su propiedad de 2,000 a 7,200 hectáreas, con resultados de muestreo de plata de alta ley que muestran valores de hasta 4,115 g/t Ag. El programa de perforación Pucamayo Este 2023 confirmó centros hidromagmáticos con valores alentadores de Au-Ag, incluyendo intersecciones de 72.5m con un grado de 0.83 g/t AuEq.
La empresa también destacó avances en Rio Bravo, donde perforaciones históricas revelaron una mineralización significativa de cobre-molibdeno con intercepciones que incluyen 220m con un grado de 0.51% CuEq. En Cobreorco, una empresa conjunta con Teck Resources ofrece potencial para el descubrimiento de un sistema porfirico/escarna, con Teck teniendo la opción de ganar hasta un 75% de interés a través de gastos de exploración y pagos en efectivo.
콘도르 리소스 (TSXV:CN)는 페루에서의 탐사 활동에 대한 업데이트를 발표했으며, 후이낙 푼타 (1,500m)와 푸카마요 (2,000m)에서의 드릴링 프로그램이 2025년 봄에 예정되어 있습니다. 회사는 푸카마요 남동부 DIA 신청의 지연으로 인해 초점을 전환하고 있습니다.
후이낙 푼타에서 회사는 소유지를 2,000헥타르에서 7,200헥타르로 확장했으며, 고품질 은 샘플링 결과는 최대 4,115 g/t Ag의 값을 보여주고 있습니다. 2023년 푸카마요 동부 드릴 프로그램은 Au-Ag 값이 유망한 수리마그마 센터를 확인했으며, 72.5m에서 0.83 g/t AuEq의 등급이 포함된 교차점이 있었습니다.
회사는 또한 역사적인 드릴링에서 중요한 구리-몰리브덴 광물이 발견된 리오 브라보에서의 진전을 강조했으며, 220m에서 0.51% CuEq의 등급을 포함한 인터셉트가 있었습니다. 코브레오르코에서 테크 리소스와의 합작투자는 포르프리/스카른 시스템 발견의 잠재력을 제공하며, 테크는 탐사 비용 및 현금 지급을 통해 최대 75%의 지분을 얻을 수 있는 옵션을 가지고 있습니다.
Condor Resources (TSXV:CN) a annoncé des mises à jour concernant ses activités d'exploration au Pérou, avec des programmes de forage prévus à Huinac Punta (1 500 m) et Pucamayo (2 000 m) programmés pour le printemps 2025. L'entreprise change de cap en raison de retards dans la demande DIA pour Pucamayo Sud-Est.
À Huinac Punta, l'entreprise a étendu sa propriété de 2 000 à 7 200 hectares, avec des résultats d'échantillonnage d'argent de haute qualité montrant des valeurs allant jusqu'à 4 115 g/t Ag. Le programme de forage Pucamayo Est 2023 a confirmé des centres hydromagmatiques avec des valeurs Au-Ag encourageantes, y compris des intersections de 72,5 m avec un grade de 0,83 g/t AuEq.
L'entreprise a également souligné des progrès à Rio Bravo, où des forages historiques ont révélé une minéralisation significative de cuivre-molybdène avec des intercepts comprenant 220 m avec un grade de 0,51 % CuEq. À Cobreorco, une coentreprise avec Teck Resources offre un potentiel pour la découverte d'un système porphyre/skarn, Teck ayant l'option de gagner jusqu'à 75 % d'intérêt par le biais de dépenses d'exploration et de paiements en espèces.
Condor Resources (TSXV:CN) hat Aktualisierungen zu seinen Explorationsaktivitäten in Peru angekündigt, mit geplanten Bohrprogrammen in Huinac Punta (1.500m) und Pucamayo (2.000m), die für den Frühling 2025 angesetzt sind. Das Unternehmen verlagert seinen Fokus aufgrund von Verzögerungen bei der DIA-Antrag für Pucamayo Südost.
In Huinac Punta hat das Unternehmen sein Grundstück von 2.000 auf 7.200 Hektar erweitert, wobei hochgradige Silberproben Ergebnisse mit Werten von bis zu 4.115 g/t Ag zeigen. Das Bohrprogramm Pucamayo Ost 2023 bestätigte hydromagmatische Zentren mit ermutigenden Au-Ag-Werten, einschließlich Schnittpunkten von 72,5 m mit einem Gehalt von 0,83 g/t AuEq.
Das Unternehmen hob auch Fortschritte in Rio Bravo hervor, wo historische Bohrungen signifikante Kupfer-Molybdän-Mineralisierung mit Interzepts von 220 m mit einem Gehalt von 0,51 % CuEq zeigten. In Cobreorco bietet ein Joint Venture mit Teck Resources Potenzial für die Entdeckung eines Porphyr-/Skarnsystems, wobei Teck die Möglichkeit hat, bis zu 75 % Interesse durch Explorationsausgaben und Barzahlungen zu erwerben.
- Expansion of Huinac Punta property from 2,000 to 7,200 hectares with high-grade silver values up to 4,115 g/t
- Significant drill results at Pucamayo East including 72.5m at 0.83 g/t AuEq
- Historical drilling at Rio Bravo showed substantial copper-molybdenum mineralization (220m at 0.51% CuEq)
- Strategic partnership with Teck Resources for Cobreorco project with potential US$10M investment
- Continued delays and bureaucratic hurdles with Pucamayo South East DIA application
- DIA application for Pucamayo South East rejected with 26 observations requiring appeal
Drilling programs at Huinac Punta (1,500m) and Pucamayo (2,000m) planned for Spring 2025 to advance our two priority exploration projects
VANCOUVER, BC / ACCESS Newswire / March 19, 2025 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to provide an update on its exploration activities in Peru and ongoing discussions on other projects. With continued delays with the Pucamayo South East DIA application, the Company is shifting its focus to drill programs at Huinac Punta and Pucamayo East, which are both fully permitted and available for drill programs to commence in the coming months once weather conditions improve. A program at Pucamayo South East is delayed as the Company continues to work with the Peruvian Ministry of Energy and Mines ("MEM") to advance the Declaración de Impacto Ambiental ("DIA") application which continues to face bureaucratic hurdles.
Chris Buncic, President and CEO, commented, "We had a very fruitful conference at the PDAC in early March at which our peers and investors were impressed with our corporate prospects at each of Pucamayo, Huinac Punta, Cobreorco and Rio Bravo among others. Additional delays with the Pucamayo South East DIA application are leading us to refocus our efforts as the drilling season approaches. We will continue to advance our DIA application with a number of next steps to pursue while at the same time driving forward on our many other opportunities".
Huinac Punta
Following the receipt of the Initiation of Activities designation, in effect the final drill permit, at the Huinac Punta project last year, Condor acquired additional exploration concessions at the high-grade silver prospect, expanding the property size from 2,000 to 7,200 hectares (Ha). Management believes Huiñac Punta has the potential to host a large, carbonate replacement style (CRD) silver-dominant polymetallic mineralized body.
Sampling of existing surface exposures recovered mineralization including 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 in addition to other metals.
The company anticipates an initial Phase 1 drill program of 1500m in the coming months when access is more reliable due to weather constraints.
Pucamayo
The drill program at Pucamayo East in late 2023 was largely successful in confirming a hydromagmatic center associated with broad zones of Epithermal-type high to intermediate sulfidation alteration and Au, Ag and base metal mineralization. It demonstrated encouraging high values of Au-Ag, with Cu, Pb, and Zn hosted within ledges of hydrothermal breccias overprinting to porphyry halo alteration evident below this mineralized epithermal assemblage, collectively providing a strong motivation to continue exploration efforts on the property in search of a significant bulk tonnage discovery. Further details can be found in the Company's February 13th 2024 Press Release HERE.
Six of the nine drillholes tested the extent of high to intermediate sulphidation type epithermal gold and silver bearing outcropping ledges of breccia and four of these (PUC-E-001, 007, 008 and 009) intersected near surface gold-silver-poly metallic intervals ranging from 3.8m to 52.2m, and grades from 0.1 to 1.1 g/t AuEq. Two holes (PUC-E-002 and 003) drilled to the east and collared higher in elevation encountered barren steam heated host rocks interpreted to lie above the mineralized zones intersected in PUC-E-001, 007, 008 & 009. These intersected ledges of calcedonic breccias are of critical interest since they demonstrate a multi event of fluidizations with silica and vuggy clasts. It can be theorized that due to the type of breccia and the alteration textures seen, only the top of the system has been accessed thus far, vectoring towards higher grades at depth.
Three deeper holes (PUC-E-004, 005, and 006) tested an outcropping area of multi-phase stockwork and alteration associated with anomalous gold and copper with associated IP chargeability and resistivity anomalies interpreted to be an intrusive related system. The best of these, PUC-E-005 intersected a 72.5 interval from 190-262.5m grading 0.45 g/t Au, 30 g/t Ag (0.83 g/t AuEq) including a 2 m high grade interval of 11.43 g/t Au, 687 g/t Ag (18.96 g/t AuEq). PUC-E-006 intersected a 2m interval grading 7.97 g/t Au, 20.9 g/t Ag (8.26 g/t AuEq). All three of these holes encountered extensive amounts of pyrite and discontinuous zinc, copper, and lead mineralization associated with argillic/phyllic altered andesitic/dioritic host rocks.
In April 2024, Condor completed a drone supported magnetic survey to encompass the interpreted hydro-magmatic centers.
Following management's review of the 2023 drill program results and the completion of the additional magnetic study, a Phase 2 drill program of 2,000m is planned to target zones of expected epithermal and porphyry mineralization.
In August 2024, Condor submitted its Declaración de Impacto Ambiental ("DIA") application to the Peruvian Ministry of Energy and Mines ("MEM") for the expanded Pucamayo South East area. The Company subsequently received follow-up questions from the MEM in November and December, with responses submitted in mid-January. The Company has received DGAAM directorial resolution disapproving the DIA application. In all, 26 new observations were provided which are not substantive and can be corrected. Without having been given an opportunity to address these deficiencies, management is confident that the Company will be successful in an Appeal for Reconsideration with the DGAAM of the MINEM based on new evidence. This is a typical path in applications for DIAs within Peru, and often results in applications being approved after the technical questions are sufficiently addressed. Management believes that the Company's application will similarly be approved in time. In the meantime, the additional bureaucratic delay is motivation for a shift towards our other meaningful exploration alternatives.
Rio Bravo
Since the announcement of the confirmation of copper molybdenum porphyry discovery with the acquisition of additional data for the Rio Bravo project on February 3, 2025 HERE, the company had much inbound interest from major copper producers and other financial groups alike. Discussions with several large parties continue as the Company looks to position the project for advancement in the most accretive method possible. Recall that 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.
Cobreorco
In the Company's February 24th, 2025 press release HERE, management provided an update on the Cobreorco joint venture with a subsidiary of Teck Resources Limited ("Teck"), which presents a significant opportunity for a discover at what management believes is a typical porphyry/skarn system. Following further technical work and community engagement, Teck submitted a revised DIA application in Q4 2024 and is actively working with MEM to advance the permitting process.
Recall that in December 2023, Condor entered into an option and joint venture agreement with Teck, on the Company's Cobreorco copper-gold project in the Apurimac Department, Peru. Under the agreement, Teck has the option to earn a
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 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
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