Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) announced it has acquired additional exploration concessions for its Huiñac Punta silver prospect in Peru, expanding the project area from 2,000 to 7,200 hectares.
The new acquisition adds 5,200 hectares of prospective ground next to the company's existing property.
According to Condor, sampling of surface exposures indicates promising high-grade silver, with mineralization also showing elevated values of copper, zinc, lead, and cobalt.
Of the 163 rock chip samples taken from two-meter intervals, 28 returned silver grades above 100 grams per ton (g/t), including two high-grade samples at 4,115 and 3,225 g/t silver.
Historical workings on the site, dating back to Spanish colonial times, reveal previous efforts to access mineral-rich zones within the property. Accessible historical adits display evidence of mineralization in breccia-hosted sulfide materials, including silver-rich sphalerite, galena, chalcocite, and various undetermined lead and silver sulphosalts.
“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,” said Chris Buncic, Condor’s CEO.
Buncic told shareholders that the acquisition is a “significant step to ensure the company's exposure to this resource and development potential” prior to a drill program.
“Our latest understanding is that the Initiation of Activities document, in effect the final drill permit, should be forthcoming in a matter of days,” Buncic added.