- CU22-06 – 7.0 metres of 12.18 g/t Au Eq
- CU22-09 – 3.0 metres of 11.80 g/t Au Eq
- CU22-12– 50 metre down dip step-out below CU22-05 (5.0 metres of 30.47 g/t Au Eq): 7.0 metre interval with visually similar characteristics
Hole CU22-06 intersected 7.0 metres from 225 metres down hole grading 11.88 g/t gold and 25.4 g/t silver (12.18 g/t Au Eq). This hole stepped out approximately 60 metres below hole CU22-01, which intersected 8.6 metres grading 5.10 g/t gold and 24.85 g/t silver (5.39 g/t Au Eq) within a wider interval of 17.6 metres grading 2.91 g/t gold and 15.23 g/t silver (3.09 g/t Au Eq). Combined with hole CU22-01, these holes may indicate the emergence of a high-grade vertical zone or "shoot".
Hole CU22-09 stepped out approximately 60 metres to depth on hole CU22-04 and intersected 12 metres grading 3.71 g/t gold, 21.2 g/t silver (3.97 g/t Au Eq.), including an intercept of 3.0 metres grading 11.51 g/t gold, 23.7 g/t silver (11.80 g/t Au Eq). Hole CU22-04 contained 4.0 metres grading 6.38 g/t gold and 108.1 g/t silver (7.68 g/t Au Eq.).
Holes CU22-08 and CU22-09 may represent an area between higher grade and thicker "shoots", but nonetheless demonstrate the continuity of the mineralized structure. Results are detailed in Table 1.
The emerging Cuyes West structure is similar to the Camp deposit and contains multiple structures into which rhyolite dikes have been emplaced. Mineralization typically occurs in and along the contacts of these structures. Both deposits are interpreted to be hosted in large scale "ring-fractures" centred around the Los Cuyes Diatreme (See Figure 1).
At Cuyes West and Camp, the gold-bearing mineralization style is quite recognizable, with pyrite and sphalerite breccias, veins and disseminations, often with marcasite and rhodochrosite, and rarely other sulphides. Drilling has been ongoing at Cuyes West with step-outs based on logged mineralization. Holes that have been drilled, for which results are pending, are shown in Figure 2. Geological logging of hole CU22-12, a 50 metre, near-vertical step-out on hole CU22-05 is of particular note, as it contains a seven-metre intercept resembling the five-metre intercept cut in hole CU22-05 from 277m: five metres grading 29.43 g/t gold and 86.5 g/t silver (30.47 g/t Au Eq). Intervals shown in Figure 2 represent the primary interval for the zone. Other intervals are present in parallel structures that are not presented as pierce points in Figure 2.
At the Ruiz structure, the results of a fan of three shallow holes drilled from the southwest to test the upper part of Ruiz intersected a consistent gold bearing structure, as shown in Figure 3, with results listed in Table 1. Hole RZ22-01 also contained a 22-metre intercept grading 0.36 g/t gold and 26.8 g/t silver (0.68g/t Au Eq) as disseminated pyrite and sphalerite mineralization in a diatreme host rock, resembling the Los Cuyes deposit. This area will be the focus of future surface mapping to better define the diatreme body. The interpretation of the intersection of the Cuyes West and Ruiz structures is developing as drilling in this area continues.
Table 1. Drill intercepts for Cuyes West and Ruiz drill holes. Asterisked intervals are shallower and belong to the diatreme at Los Cuyes and at Ruiz (see note below).
Hole | Azimuth / | From (m) | To (m) | Interval | Au (g/t) | Ag (g/t) | Au Eq (g/t) |
CU22-06 | 346° / -33° / 381.7m | 2 | 212 | 210* | 0.41 | 2.6 | 0.44 |
Incl | 64 | 72 | 8 | 1.07 | 1.5 | 1.09 | |
And | 225 | 232 | 7 | 11.88 | 25.4 | 12.18 | |
Incl | 225 | 228 | 3 | 27.02 | 55.9 | 27.69 | |
And | 240 | 247 | 7 | 2.41 | 9.9 | 2.53 | |
And | 265 | 267 | 2 | 3.94 | 36.7 | 4.38 | |
And | 289 | 297 | 8 | 2.00 | 17.6 | 2.21 | |
Incl | 293 | 295 | 2 | 4.24 | 18.5 | 4.46 | |
And | 331 | 332 | 1 | 5.08 | 30.2 | 5.44 | |
And | 367 | 369 | 2 | 1.13 | 10.2 | 1.25 | |
CU22-07 | 235° / -34° / 364.4m | 8 | 46 | 38* | 0.51 | 0.7 | 0.52 |
And | 74 | 114 | 70* | 0.61 | 3.8 | 0.66 | |
And | 156 | 180 | 24* | 0.22 | 3.5 | 0.26 | |
And | 192 | 238 | 46* | 0.57 | 5.56 | 0.64 | |
Incl | 222 | 232 | 10 | 1.25 | 11.4 | 1.39 | |
(CW) | 272 | 274 | 2 | 2.72 | 13.6 | 2.88 | |
And | 290 | 292 | 2 | 2.03 | 12.9 | 2.18 | |
CU22-08 | 337° / -35° / 300.0m | 56 | 174 | 118* | 0.58 | 5.6 | 0.65 |
Incl | 154 | 159 | 5 | 2.94 | 27.0 | 3.27 | |
And | 207 | 209 | 2 | 1.24 | 7.8 | 1.33 | |
And | 223 | 224 | 1 | 4.85 | 43.7 | 5.37 | |
And | 251 | 252 | 1 | 3.57 | 29.2 | 3.92 | |
And | 277 | 278 | 1 | 1.29 | 30.5 | 1.65 | |
CU22-09 | 325° / -36° / 279.7m | 8 | 10 | 2* | 0.82 | 2.0 | 0.84 |
And | 18 | 20 | 2* | 2.38 | 7.6 | 2.47 | |
And | 92 | 128 | 36* | 0.22 | 2.4 | 0.25 | |
And | 144 | 152 | 8* | 0.80 | 6.7 | 0.88 | |
And | 164 | 188 | 24* | 0.31 | 5.4 | 0.38 | |
And | 228 | 240 | 12 | 3.71 | 21.2 | 3.97 | |
Incl | 228 | 229 | 1 | 6.29 | 87.4 | 7.34 | |
Incl | 237 | 240 | 3 | 11.51 | 23.7 | 11.80 | |
RZ22-01 | 070° / -60° / 220.7m | 67 | 68 | 1 | 1.36 | 7.6 | 1.45 |
And | 134 | 156 | 22* | 0.36 | 26.8 | 0.68 | |
Incl | 155 | 156 | 1 | 2.95 | 137.0 | 4.60 | |
RZ22-02 | 108°/ -57° / 233.4m | 12 | 22 | 10* | 0.25 | 7.8 | 0.34 |
And | 38 | 41 | 3* | 0.79 | 7.9 | 0.89 | |
RZ22-03 | 015° / -62° / 276.5m | 97 | 103 | 6* | 0.30 | 80.7 | 1.26 |
Incl | 97 | 98 | 1 | 0.80 | 451.0 | 6.21 | |
And | 158 | 162 | 4 | 0.28 | 1.1 | 0.29 |
Asterisked (*) intervals are "Shallower" intervals calculated using a lower limit of 0.20 g/t Au with a maximum inclusion of ten continuous metres below cut-off occurring within the stated intercept and the highest gold value used in the reported weighted averages is 33.4 g/t Au. Remaining intervals not marked with an asterisk are for "Deeper" intervals calculated using a lower limit of 1.0 g/t Au with a maximum inclusion of up to six continuous metres below cut-off and the highest gold value used in the reported weighted averages is 56.0 g/t Au. Au Eq values assume |
All Luminex sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") protocol which includes the insertion of blind standards, blanks as well as pulp and reject duplicate samples. Logging and sampling are completed at Luminex's core handling facility located at the Condor property. Drill core is diamond sawn on site and half drill-core samples are securely transported to
Silver and other elements are also determined by ICP methods. Over-limit samples assaying greater than 10 g/t gold and 100 g/t silver are re-analyzed by ALS using fire assay with a gravimetric finish. Luminex is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.
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Signed: "Marshall Koval"
Neither the
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include, but are not limited to, statements regarding future drilling and work programs at Condor. Often, but not always, forward-looking statements or information can be identified by the use of phrases or statements that certain actions, events or results "will" occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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