Condor - Company Highlights

Transcription

1 FEBRUARY 2016

2 Condor - Company Highlights Condor is a project generator focused exclusively on precious and base metals exploration in Peru. Condor s objective is the discovery of a major new precious and/or base metals deposit. Excellent portfolio of discovery stage properties. MOU signed with Compañia Minera Casapalca S.A. on Soledad and Ocros projects. Casapalca has the option to earn up to a 70% interest in both these projects. Permits are in place at Soledad, and Casapalca is expected to commence drilling during the first quarter of Production royalty agreements are in place on the Lucero and Chavin projects, with combined annual minimum payments to Condor of US$100,000. Recently formed project generation MOU with a private Peruvian company to fund new project acquisitions. Committed to a high standard of community & social responsibility. 2

3 Experienced and Lean Management Team Management Lyle Davis, President/CEO P. Eng, MBA, over 25 years in financial markets and public company management. Ever Marquez Amado, VP Exploration Exploration geologist with more than a 20 years in mineral exploration. Previously the Senior Regional Exploration Geologist for the Andes at Newmont Peru. Graham H. Scott, Corporate Secretary & Director Principal of VECTOR Corporate Finance Lawyers. Jonathan Younie, Chief Financial Officer Over 15 years accounting and finance experience with public and private companies. Directors Graham Scott, Director Lyle Davis, Director Paul Larkin, Director Robert Boyd, Director Francisco de Undurraga, Director Technical Advisory Board John S. Watt David Moore, P. Geo. Veljko Brcic 3

4 ECUADOR BR BRA ACIFIC CEAN ACIFIC BOLIVIA CEAN BOLIVIA BRASIL BRASIL ojects jects m 0 0 PACIFIC OCEAN PACIFIC Kilometers Kilometers OCEAN CHILECHILE CHILE CHILE BOLIV LEGEND LEGEND Condor projects Condor projects Fault Fault Trench Trench Ridge Ridge Transform Transform Kilometers Kilometers CHILECHILE CHILE CHILE

5 Soledad - Gold/Silver/Copper prospect with very encouraging results from first stage drill program Compañia Minera Casapalca S.A. can earn a 70% interest over 4 years with US$725,000 in cash payments and 15,500m of diamond drilling, or work equivalent. Casapalca are expected to commence Phase II drilling in the first quarter of Prior to the earn-in agreement with Casapalca, a 12 hole, 2084m program was completed in 2014, with notable results including 174m of 4.4 g/t AuEq in SDH-009, and 161m of 2.1 g/t AuEq in SDH-012. The Phase I drill program supports the concept that the cluster of exposed breccias is underlain by a mineralized porphyry system. After the Phase I drill program in 2014, a deep sensing geophysics survey was completed in late 2014, and in March 2015, further infill geophysics were completed. Soledad is a 100% owned, 7.13 sq km property, located in the central Peruvian Andes about 34 km south of Barrick s Pierina mine. 5

6 Soledad SDH-009 Drill Core Ever Marquez, Condor s V.P. of Exploration, with core from 165m depth in hole 9 at the Soledad goldcopper-silver project, circa June Grade from 165m to 166m was 2.5% copper, 378 g/t silver, and 1.0 g/t gold. 6

7 HOLE No UTME UTMN ALT AZ DIP DEPTH SDH SDH ,5 SDH SDH ,5 SDH ,5 SDH SDH ,5 SDH SDH SDH ,5 SDH ,5 SDH , g/t Au & 13 g/t Ag Image SDH g/t Au; 33 g/t Ag 0.2% Cu, 0.9 g/t Au & 15 g/t Ag 19 g/t Ag 0.4% Cu, 1.3 g/t Au & 13 g/t Ag 1.2% Cu, 0.7 g/t Au, 114 g/t Ag 19 g/t Ag LEGEND 0.10 g/t Au; 11.2 g/t Ag;0.19%Cu meter s 1.0% Cu, 3.4 g/t Au & 23 g/t Ag Drilled Holes Traces Condor Resources Inc. SOLEDAD PROJECT 2014 DRILL HOLE MAP & SIGNIFICANT RESULTS TSXV : CN Projection: UTM Zone 18. Southern Hemisphere (WGS 84)

8 Ocros: Copper-Gold-Silver Porphyry project, with abandoned underground workings Casapalca can earn up to a 70% interest over 4 years by making cash payments of US$550,000 and completing 10,000m of diamond drilling, or work equivalent. Casapalca and the Company are currently preparing the drill permit application. The historic Eldorado mine, circa 1950s, is located on the Ocros Property, Ancash. A total of 62 horizontal adit wall channel samples with an average weight of 2.2kg were collected over the entire length (326m) of the recently re-opened 200 Level Adit. The sample results yielded 0.68% copper over 326m, including a 141m interval of 1.1% copper on the western end of the adit. The adit entrance is over 1 km east & and about 300m lower than the nearest of seven drill holes completed by Condor in 2007/2008. The closest 2008 drill hole ended at a depth of 400m, and reported 251m of 0.15% Cu from 150m to 400m, which included 54m of 0.41% Cu at the bottom of the hole the closest drillhole interval to the 200 Level Adit. 8

9 Ocros: Copper-Gold-Silver Porphyry project Abandoned Structures of historic Eldorado Mine at Ocros 9

10 Lucero: High Grade Gold-Silver, ore source for the Shila Mine A production royalty agreement at Lucero was concluded in late 2015 with a private Peruvian company, with a 3% NSR payable to the Company, subject to a minimum annual royalty of US$75, sq km of concessions, acquired by staking, and 100% owned by Condor. Located in southern Peru, approximately 22 kilometres south of Buenaventura s Orcopampa mine. Lucero covers what is known as the Shila Mining Camp, which includes several precious metal vein mines, including the Sando Acalde, Pillune and Apacheta-shila. Buenaventura were extracting ore from 1990 until 2006, and processing it at a small plant east of the concessions. Public production numbers for Shila from 1998 until 2005, show the 7 year average mined grade was 14.1 g/t Au, and 373 g/t Ag. Annual production averaged 18,819 oz gold, and 435,953 oz silver. We believe that potential remains for the discovery of additional high grade ore shoots in the 3 former producing mines, and in the numerous other veins and structures located on the property. 10

11 Pucamayo East: Gold-Silver project, Central Peru Declaración de Impacto Ambiental (aka, a DIA ) granted for Pucamayo East in March DIA allows Condor or its assignee to complete up to 20 drill holes at Pucamayo East. Strategic 3 sq km concession (Anta Rumi 101) acquired by staking in early Epithermal disseminated precious metals mineralization at Pucamayo East occurs in vuggy silica and hydrothermal breccias out-cropping in a partially exposed erosion window below an advanced and granular silica cap. Condor geologists recently identified a breccia-porphyry target, which is coincident with a 600m diameter high chargeability anomaly. 11

12 LS, LS,IS IS VEIN VEINTARGET TARGET HS EPITHERMAL & PORPHYRY TARGET Quartz carbonate veins with Ag-Au-Cu-Pb-Zn mineralization. Au-Ag-Cu-Pb-Zn mineralization. DANIELA TINCO Epithermal Breccias/Vuggy Silica Ledges Breccia Porphyry Target New concession: Anta Rumi 104 Acquired 2015 Condor ResourcesInc. Inc. Condor Resources Rock Channel (saw) g / t Rock Channel g/t meters 1000 PUCAMAYO EAST PUCAMAYO PUCAMAYO EAST EAST ZONE ZONE Geophysics 2: IP -FIGURE Chargeability KNOWN TARGETS 50 meters Depth TSXV : CN Projection: UTM Zone 18. Southern Hemisphere (WGS 84)

13 Share Structure January 31, 2016 Shares Outstanding: 85,863,241 Options: 6,670,000 Warrants: 16,650,000 Fully Diluted: 109,183,241 Working Capital (November 30, 2015): $0.04 million 13

14 Moving Forward Capital Preservation: We operate in a very cyclical industry, and are in the midst of a prolonged trough. Preserve capital, and be poised to move when markets turn. Advance projects via joint ventures with partners. Soledad: Very encouraging results from the first phase drill program in Minera Casapalca have an option to earn up to a 70% interest at Soledad, and are expected to commence a Phase II drill program in the first quarter of Ocros: Systematic channel sampling yielded 326m of 0.68% copper over the length of a recently reopened adit on the eastern edge of the concessions, last mined in the 1950s. Minera Casapalca have an option to earn up to a 70% interest in the Ocros concessions. Permitting process underway. Lucero concessions (ore source for the former Shila Mine/Mill): Production Royalty agreement signed in November % NSR, with annual minimum. Pucamayo East: Copper-Silver project, with DIA. We expect to secure a partner for this project in

15 Contact Information Head Office Condor Resources Inc. Suite 303, 543 Granville Street Vancouver, BC, Canada, V6C 1X8 Phone: // Lyle Davis, President/CEO Lima Office Av. Javier Prado Este No. 1184, Office 302 San Isidro, Lima 27, Peru Ever Marquez, VP Exploration 15