Business
Condor Resources Inc. Announces Unsolicited Drill Hole Intersects Significant CU AU Mineralization at Austral Property, Chile
(via Thenewswire.ca)
About this update from Condor Resources Inc.
[{"type":"text","content":"Condor Resources Inc. Announces Unsolicited Drill Hole Intersects Significant CU AU Mineralization at Austral Property, Chile\n\n(via Thenewswire.ca)\nVancouver, B.C., February 18, 2009 - Condor Resources Inc. - (\"Condor\" or the \"Company\") (TSX.V: CN) is pleased to announce results of a recent unsolicited drill hole on its wholly-owned Austral porphyry copper project in Chile. The Austral property adjoins Condor's Brahma property located in southern Chile southeast of the city of Talca.\n\nThe 321m inclined diamond drill hole was completed by a major international mining company without the knowledge or consent of Condor. The drill hole was collared within an adjacent mineral claim and terminated in claims staked and owned 100% by Condor. Subsequent to drilling and assaying of the hole by the major company, the drill hole location and assay results were voluntarily forwarded to Condor and, subject to confirmation by Condor, indicate the presence of significant amounts of copper and gold mineralization. Condor geologists intend to examine and re-log the drill core. No commercial relationship currently exists between this undisclosed major company and Condor. Discussions between the major company and Condor are continuing in a spirit of amicable cooperation.\n\nCopper values in the hole were anomalous, with numerous individual 1m core samples returning values of 1% to 1.1% Cu, and gold values ranging from negligible to 0.248 g/t Au. A cumulative 56 meters of core assayed more than 0.5% copper equivalent. Condor is advised the assaying was carried out by ALS Chemex, Chile. Detailed results can be found on the Company website (www.condorresources.com).\n\n*PRELIMINARY INTERVALS - TO BE CONFIRMED\n\nDrill Hole From (m) To (m) Width (m) Cu% *AuEq (Cu%) *CuEq (%) \nDDH-001 55.00 321.00 266.00 0.25 \nincludes 56.00 175.25 119.25 0.36 \nand 56.00 64.00 8.00 0.50 0.07 0.57 \nand 73.00 77.00 4.00 0.53 0.14 0.67 \nand 82.00 102.50 20.50 0.59 0.10 0.69 \nand 114.60 132.50 17.90 0.46 0.08 0.54 \n\n(*Copper equivalency assumes US$1.55/lb copper, and US$900/oz gold).\n\nCondor's President, Mr. Patrick J. Burns, stated that \"Although the drilling was unsolicited by Condor, these results confirm the discovery of a second, potentially large, porphyry copper-gold system within the Company's 270 sq km, 100%-owned and adjoining Brahma and Austra...