Condor Reports: Drilling commenced by Chakana Copper at Condor’s Soledad Project, Ancash, Peru
Condor Reports: Drilling commenced by Chakana Copper at Condor’s
Soledad Project, Ancash, Peru
Vancouver, B.C., August 16, 2017 - Condor Resources Inc. - (“Condor” or the “Company”) (TSX.V: CN) is pleased
to announce that Chakana Resources S.A.C. a subsidiary of Chakana Copper Corp. ("Chakana") has commenced drilling
operations at Condor’s wholly owned Soledad project.
Chakana has advised that their initial resource drilling program started on August 1 6th, 2017 , and is estimated to total
21,200 metres of drilling. The initial portion of this drill program is designed to provide detailed information on the
geometric size and mineralized grades of four of the nine known tourmaline breccia pipes.
Prior drilling has confirmed high grade Cu -Au-Ag mineralization from surface to a depth of 490m in Breccia number one
(see the Company’s July 6 2016 news release), and mineralized intervals over 119m in Breccias number five and six (see
the Company’s June 2 2016 news release).
The Soledad property comprises as many as nine hydrothermal breccia bodies within an alteration system that measures
approximately two kilometers in diameter as evidenced by pervasive alteration, quartz and quartz tourmaline veins and
structures, as well as polymetallic veins with Ag-Cu-Pb-Zn mineralization.
In preparation for the drill program , Chakana consolidated drill core from the 2014 and 2016 drill programs to a Lima
facility, modelled the breccia pipes in 3D to support drill planning, completed initial petrography on high grade gold
samples, completed hyperspectral scanning of 1,000 m of drill core, and completed a geophysics program consisting of
surface EM and CS/NS-AMT in the area around and between Breccias number 5 and 6.
Chakana has the option to earn a 100% interest in Soledad, over a period of 4.5 years, subject to a 2% net smelter return
royalty in favour of Condor. To earn the ir 100% interest, Chakana is required to complete 12,500m of drilling (or work
equivalent), make cash payments totaling US $5.375 million, and issue 500,000 Chakana shares to Condor.
Condor is an explorer and project generator focused exclusively on Peru, and our objective is the discovery of a major new
precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration
team.
ON BEHALF OF THE BOARD
Lyle Davis,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at [email protected] OR
Renmark Financial Communications Inc.
Barry Mire: [email protected]
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
Cautionary Statement Regarding Forward -Looking Information: All statements, trend analysis and other information contained in
this press release relative to markets about anticipated future events or results constitute forward -looking statements. Forward -looking
statements are often, but not always, identified by t he use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect"
and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and othe r similar
expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those contained in the forward -looking statements. Forward -looking statements are
based on estimates and opinions of management at the date the statements are made. The Co mpany does not undertake any obligation to
update forward -looking statements even if circumstances or management's estimates or opinions should change. Investors should not
place undue reliance on forward-looking statements.
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Exchange) accepts responsibility for the adequacy or accuracy of this news release.