EL CONDOR IN-FILL DRILLING INTERSECTS 26.9 METERS 2.19%...
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News EL CONDOR IN-FILL DRILLING INTERSECTS 26.9 METERS 2.19% CU & 0.58% NI El Condor Minerals Inc. (“El Condor” or the “Company”) is pleased to announce the analytical results from a second portion of the twelve-hole, 2,037 meter diamond drilling program at its Horden Lake property, completed during the 2012 winter drilling program. The drilling program was designed to provide metallurgical samples for preliminary processing work and to test for expansion of resources to the northeast and southwest of the known mineralization and resource. Analytical results reported in this release are from four holes completed within the known resource area, which will provide mineralized material for metallurgical test work. Analytical results from the four internal drill holes are summarized in Table 1.2. Drill hole locations are shown on Figure 1.2. The intercepts are calculated using a 0.25% copper cutoff grade, without consideration of other metals. Lower grade internal intervals up to 3.0 meters in length are incorporated if adjacent copper values carry the low grade intervals. True thicknesses of intervals within the Main Zone are estimated using cross sections and linear, non-deviated drill hole projections. Table 1.2 Horden Lake Diamond Drill Hole Results % g/t Est.True 1 / 20
Transcript of EL CONDOR IN-FILL DRILLING INTERSECTS 26.9 METERS 2.19%...
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EL CONDOR IN-FILL DRILLING INTERSECTS 26.9 METERS 2.19% CU &0.58% NI
El Condor Minerals Inc. (“El Condor” or the “Company”) is pleased to announce the analyticalresults from a second portion of the twelve-hole, 2,037 meter diamond drilling program at itsHorden Lake property, completed during the 2012 winter drilling program. The drilling programwas designed to provide metallurgical samples for preliminary processing work and to test forexpansion of resources to the northeast and southwest of the known mineralization andresource. Analytical results reported in this release are from four holes completed within theknown resource area, which will provide mineralized material for metallurgical test work.
Analytical results from the four internal drill holes are summarized in Table 1.2. Drill holelocations are shown on Figure 1.2. The intercepts are calculated using a 0.25% copper cutoffgrade, without consideration of other metals. Lower grade internal intervals up to 3.0 meters inlength are incorporated if adjacent copper values carry the low grade intervals. Truethicknesses of intervals within the Main Zone are estimated using cross sections and linear,non-deviated drill hole projections.
Table 1.2 Horden Lake Diamond Drill Hole Results
%
g/t
Est.True
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Drill Hole #
From (m)
Length (m)
Cu
Ni
Co
Pd
Pt
Au
Ag
Width (m)
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HN-12-80
198.1
2.9
0.28
0.13
0.012
0.17
0.09
0.19
7.4
2.2
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210.4
5.6
0.90
0.35
0.035
0.27
0.10
0.13
11.4
4.3
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including
3.0
1.37
0.22
0.025
0.19
0.07
0.20
16.5
2.3
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HN-12-81
85.3
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2.1
0.43
0.02
0.005
0.21
0.08
0.51
32.0
unknown
114.3
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3.0
0.49
0.14
0.022
0.11
0.02
0.03
5.0
unknown
136.9
4.5
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0.99
0.21
0.020
0.59
0.01
0.07
8.6
3.7
including
1.1
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2.74
0.68
0.039
0.26
0.00
0.04
21.2
0.9
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HN-12-83
141.9
17.4
0.79
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0.35
0.050
0.25
0.09
0.29
9.3
14.1
including
3.6
0.94
0.34
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0.023
0.26
0.04
0.08
9.4
2.9
including
4.2
1.51
0.36
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0.085
0.32
0.06
0.14
18.1
3.4
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HN-12-88
169.2
26.9
2.19
0.58
0.051
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0.56
0.16
0.27
30.5
23.3
including
2.8
4.58
0.56
0.060
0.79
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0.18
1.06
59.9
2.4
including
3.9
2.89
0.57
0.071
0.61
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0.10
0.31
41.0
3.4
“From” column is the upper, starting depth of the mineralized interval reported. Estimated truethickness of gabbro-hosted disseminated mineralization is unknown. Intercepts in bold aremetasediment-hosted, and vary from massive to semi-massive sulfide, to disseminated stylemineralization. Non-bold figures represent assay intervals from disseminated mineralization inthe gabbro sill complex.
“The drilling internal to the known resource was successful in providing excellent intercepts forour metallurgical test work,” commented Leigh Freeman, El Condor President & CEO.
Additional results are being processed and will be released as they become available.
Copper-nickel-precious metal mineralization at Horden Lake is associated with a northeasttrending, northwest dipping gabbroic sill-like complex. Massive to semi-massive anddisseminated mineralization occurs in the footwall contact zone (“Main Zone”) of the gabbro withunderlying metasedimentary rocks, but is primarily hosted by the metasedimentary package. The reported resources at Horden Lake are predominately contained in the Main Zone which, atthe property scale, is a tabular zone dipping approximately 550 to the northwest. Disseminatedmineralization is also contained within certain phases of the igneous suite, offering potential formore widespread, shallow, lower grade mineralization.
Caracle Creek International Consulting Inc. (“CCIC”) performed the on-site management ofdrilling operations, core logging and core sampling. CCIC managed the QA/QC programincluding the insertion of standards, blanks and duplicates into the sampling routine at the rateof approximately 17%. Protocols for the core sampling and QA/QC program were developed byCCIC in collaboration with El Condor. Fire assays for precious metals and total digestion ICPanalysis for base metals and other elements were completed by Activation Laboratories Ltd.
Donald Baker, PhD, the Company’s Horden Lake Project Manager and Qualified Person underNI 43-101 standards (MMSA - #01088QP), is responsible for the technical and geological
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content of this news release, and for approval of the QA/QC program.
About El Condor Minerals Inc.El Condor Minerals Inc. is currently developing the Horden Lake Copper Project, an advancedexploration stage copper-nickel deposit in Quebec. Horden Lake is a NI 43-101 compliantresource calculated effective April 2009 using the Ordinary Kriging method and a 0.5% coppercut-off, with 8,759,200 Indicated Tonnes at 0.88% Cu and 0.21% Ni and 7,791,195 InferredTonnes at 0.87% Cu and 0.25% Ni. The resource is unbounded at depth as well as along bothits northeasterly and southwesterly strike extensions, where historic drilling by INCO continuesto intersect the mineralization.
Additional information on El Condor, its properties and its exploration and development activitiesis available at the Company’s website: www.elcondorminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Leigh W. Freeman”
President & CEO
For information, please contact the Company at (604) 689-8336 (ext 103) [email protected].
FORWARD LOOKING STATEMENTS: This press release contains forward-lookingstatements. Forward-looking statements are statements that are not historical facts and aregenerally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”,“intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions“will”, “would”, “may”, “could” or “should” occur. Although the Company believes theexpectations expressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performance and actual results maydiffer materially from those in forward looking statements. Forward-looking statements arebased on the beliefs, estimates and opinions of the Company’s management on the date suchstatements were made. The Company expressly disclaims any intention or obligation to updateor revise any forward-looking statements whether as a result of new information, future eventsor otherwise.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of thisrelease.
Figure 1.2 Drill Hole Location Map
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Drill holes results reported herein were all drilled along section L 1550. Collars colored blueare from the 73 hole, 18,000 meter core drilling program of Southampton Ventures Incconducted in 2008. Collars colored red are Company holes completed in 2012. The red line isthe approximate bedrock surface trace of the Main Zone. The blue line outlines the knownmineralization based on the 2008 Southampton drilling, and encompasses the majority of thereported resources. Drill hole numbers best viewed in 200% zoom. Note that drill holesHN-12-82 and HN-12-84 are drilled from the same drill site along section L 1550.
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