Geology


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Geology

The Santa Ana property is located on the eastern side of the Central Cordillera, underlain by highly deformed Paleozoic schists, quartzites and gneisses of the Cajamarca formation, intruded by the Tertiary El Hatillo granodiorite stock. The polymetallic silver-gold veins are characteristic of an intrusion related silver rich system later overprinted by a low sulphidation epithermal system in a thrust and fold setting. They are comprised of variable amounts of pyrite, sphalerite, galena, silver sulphosalts, native silver and gold in a gangue of quartz and adularia. The veins generally strike N-S to NNE and dip 45 to 85 degrees W to NW. They are directly related to right-lateral strike-slip movement on the regional scale Palestina Fault System.

Mineralization 

Preliminary prospecting, rock chip sampling, and drilling were carried out by Condor between 2012 and 2014. Chip samples of vein material collected in 2012 from the historic Santa Ana mine tunnels returned assay values as high as 11 g/t Au and 2,820 g/t Ag. Other high silver values included 929 g/t Ag, 600 g/t Ag and 443 g/t Ag. Chip samples collected from outcrops in 2013-2014 returned several high gold values along with high silver values, including: 68 g/t Au and 422 g/t Ag; 48 g/t Au and 81 g/t Ag; and 36 g/t Au and 163 g/t Ag.

A preliminary diamond drilling programme was conducted in 2012 completing eight shallow holes for a total of 1,170 metres. All of the holes were drilled from a single platform and tested the down-dip extension of vein mineralization below the historic Santa Ana mine tunnels. The results further highlighted the potential for bonanza-type silver-gold veins, with drill intersections including: 1,751 g/t (51 oz/t) AgEq over 3.04 metres; 1,465 g/t (43 oz/t) AgEq over 1.82 metres; and 2,545 g/t (75 oz/t) AgEq over 1.34 metres.

Summary drill results are presented in Table 1.

Table 1: Santa Ana Drill Intersections

Hole From (m) To (m) Length (m) Au (g/t) Ag (g/t) AgEq (g/t)
CP-1201 78.45 79.30 0.85 1.34 667 760
CP-1202 110.03 110.56 0.53 1.21 389 473
CP-1203 83.82 86.86 3.04 3.68 1,495 1,751
CP-1203 100.58 102.40 1.82 1.26 1,378 1,465
CP-1204 133.15 134.97 1.82 0.47 149 182
CP-1205 70.10 74.70 4.60 0.32 179 201
CP-1205 88.00 88.80 0.80 1.64 532 646
CP-1205 104.84 107.22 2.38 0.38 193 219
CP-1206 124.66 125.15 0.49 0.34 742 765
CP-1206 137.00 137.66 0.66 1.89 685 816
CP-1207 170.47 170.76 0.29 2.45 746 916

Intersections were composited using a cut-off grade of 100 g/t AgEq, calculated as Ag (g/t) plus Au (g/t) times 69.44 (assuming a Au price of US $1,250 per ounce, a Ag price of US $18 per ounce with no metallurgical recovery assumptions).  Intersected lengths do not represent true vein thicknesses which are generally less. True widths are not known at this time.

Condor’s quality control procedures during collection of drill core data included the insertion of commercial certified standards and blanks.  Rock and drill core samples were sent to the ALS laboratories sample preparation laboratory in Bogota, Colombia, where they were dried, crushed, split and pulverized. The 250g pulps were then sent to Condor’s head offices in Vancouver, British Columbia, Canada and subsequently delivered to the ALS Laboratory in North Vancouver for analysis.  The samples were analyzed for gold using standard fire assay on a 50 gram sample with a gravimetric finish, and for multiple elements by ICP-MS using either an aqua regia (ME-MS41) or a four acid (ME-MS61) digestion. High silver results triggered ore grade Ag analysis using the AG-OG62 procedure. The drill results have been verified by the company’s qualified person. 

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