Sydney, Australia 22 August 2011 Condor Blanco Mines Ltd.
Condor Blanco Mines Ltd.. / Key word (s): drilling results Condor
Blanco Mines Ltd.:. Holes in the gold-iron-copper project, encounter
Sydney, Australia. 22nd August 2011. Condor Blanco Mines Ltd.. (TSX:
A1H4KP ASX: CDB) announced today that it has begun drilling in the
backwash of 3,400 meters of drilling on the extent gold Iron Project,
located 40 km east of Copiapo in northern Chile. The holes are from 4
August performed. Until now, two wells were completed and two more are
currently being drilled. Currently, two drill rigs operating. The aim
of this first exploratory drilling is to find out whether the porphyry
system beneath the houses worthless clay and phyllites of the surface
ore.
Both wells have encountered long sections with distributed chalcopyrite ore:
Hole depth drill section (length in m) type of ore (m) (depth in m)
RCGI01 322 75-202127 241-322 81 chalcopyrite chalcopyrite
RCGI02 358 91-101 6 chalcopyrite chalcopyrite 160-183 23 282-358 76 chalcopyrite
There are a total of nine holes planned to a depth of 400 m (see
Figure 1 of the original British press release, which is linked at the
end). Hard rock, high water intake and prevented the first two holes
have reached the planned depth. However, the drilling showed that the
mineralized porphyry system over long sections. Samples have been sent
to the laboratory. The analytical results are expected.
Condor Mines has identified a large porphyry gold system on Iron and
mapped. The system comes to the surface and shows a striking color
anomaly in an area of 1.2 km by 600 m (Figure 2 of the original
English press release).
The porphyry system is embedded in monzonite porphyry and rocks, which
probably dates from the era of the Paleocene-Eocene, and lies near the
eastern border of the Chilean iron belt. This system is dominated by
quartz-sericite. The system is intruded by numerous
quartz-tourmaline-Brekkzien of lithic Brekkzien phreatic and
late-Brekkzien (see Figure 3). Low-copper mineralization occurs as a
secondary copper mineralization in quartz veins in late laminated
(Figure 4).
The limitations of this system have been tested by Anglo American in
the late 1980s by drilling. Data on the results of this drilling are
not available. However, only the surface and the holes were too far
away from the main system as that of a potential copper mineralization
could be tested effectively. , The replacement of the surface Argille
and quartz-sericite-weathering suggests that any mineralization - if
any - should occur at depth. The drilling of Condor Mines are
designed. Figure 3 shows the mapped geology and locations of proposed
drilling.
The first two holes have shown that the concept of exploration Condor
Gold Mines is right on Iron insofar as that the worthless rock surface
passes into mineralized rock from a depth of 80 meters. With
increasing depth of weathering is increasingly pottasisch, with
secondary biotite and Pottasium-feldspar are dominant. With increasing
depth of the content of magnetite.
Glen Darby, managing director of Condor Mines was in the supervision
of the hole RCGI02 to (see Figure 5). He commented on the progress,
after the first hole was completed successfully: 'We are delighted
with the results and the fact that the team is able to set goals and
achieve them. We were always convinced that this is a promising system
is available. The wells now supply the proof. '
The success of the first two holes is particularly encouraging because
they were drilled on the borders of the porphyry system. The holes are
gradually introduced to the inferred center of the system. The team of
Condor Mines is of the results on gold Iron excited because it had
success with the first wells in the first early-stage project in
Chile. The Company is not only on the results of the other holes on
gold Iron, but also to the commencement of drilling on the epithermal
gold-silver projects Carachapampa and La Isla and the large porphyry
system on the Yaretas project in the summer.
