Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) has expanded its Huiñac Punta silver prospect in Peru, increasing the property size from 2,000 hectares to 7,200 hectares after securing additional exploration concessions.
The newly acquired hectares, obtained through uncontested application, bring promising prospects for the company as it targets carbonate replacement-style (CRD) mineralization in a high-grade silver-dominant area, the Canadian explorer said in a statement.
The expanded property is believed to contain significant silver deposits along with copper, zinc, lead, and cobalt, based on sampling from surface exposures.
Of the 163 two-meter rock chip samples collected, 28 samples showed silver grades exceeding 100 grams per tonne (g/t), including exceptionally high-grade samples of 4,115 g/t and 3,225 g/t silver, Condor reported.
The area also contains remnants of historical workings from the Spanish colonial era, with evidence of sulfide mineralization featuring valuable elements such as sphalerite, galena, and chalcocite.
CEO Chris Buncic said the expanded concessions are an important milestone as the company prepares for its maiden drill program at Huiñac Punta.
“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,” Buncic said in a statement.
Buncic added that the company expects the final drill permit, known as the Initiation of Activities document, to be issued shortly.