Condor Resources Inc. (TSX VENTURE:CN) has announced that drilling commenced December 17th on its wholly owned La Libertad porphyry Cu-Mo project located in Ancash Department in northern Peru, 280 km north of Lima.
The program will comprise approximately 2000m of diamond core drilling in 4 to 6 holes to test both the mineralized porphyry and the recently discovered mineralized hydrothermal breccia targets. The drilling has been contracted to Canchi Perforaciones Peru S.A.C.
Previous work by Company geologists at La Libertad led to the original discovery of secondary copper mineralization in a feldspar hornblende porphyry intrusive in the bottom of the rugged Shemur quebrada (gully) and eventually extended the porphyry target over some 2000m in length. Native copper in samples from the leached cap within the potassic alteration zone of the porphyry returned a peak value of 8.42% Cu over 2m in a channel sample associated with anomalous silver.
The hydrothermal breccia is exposed over a surface area of 200m by 200m and mineralization includes chalcopyrite, sphalerite, pyrite and pyrrhotite in a silica matrix, with silicified sedimentary clasts also containing limonite and minor copper-zinc mineralization. Channel samples of 2 metre widths of the breccia returned values ranging up to peak highs of 0.57% Cu, 0.61 g/t Au, 45.9 g/t Ag, 4.1% Zn and anomalous lead. The hornfelsed host rock channel samples returned values up to 0.2% Cu, 0.3 g/t Au, 534 g/t Ag, 14.85% Pb and 10.75% Zn over 2m while peripheral quartz veins returned values up to 0.65 g/t Au, 204 g/t Ag, 9.63% Pb and 9.92% Zn in channel samples of 2 metre widths.
The La Libertad project is located within the Peruvian porphyry copper belt some 80 km west of the Antamina mine (745Mt grading 1.06% Cu, 11.7 g/t Ag, 0.026% Mo and 0.67% Zn) and 385 km southeast of the La Granja deposit (3.2 billion tonnes grading 0.62% Cu). The technical information with respect to the above deposits was obtained through the respective companies' public disclosure documents available on SEDAR.
Source: Condor Resources Inc.