Condor - Company Summary

Transcription

1 NOVEMBER 2014

2 Condor - Company Summary Condor is a project generator focused exclusively on precious and base metals exploration in Peru and Chile. Condor s objective is the discovery of a major new precious and/or base metals deposit. Excellent portfolio of discovery stage properties. Over the last year and a half, Condor has had 6,300m of diamond drilling completed on 3 separate projects by its partners. At our Soledad project, a twelve hole, 2,084m drill program was completed in June. Phase 2 drill program at Soledad planned for early 2015, after completion of more geophysics in November. Committed to a high standard of community & social responsibility. 2

3 Experienced and Lean Management Team Management Lyle Davis, President/CEO, Director 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. Directors Graham Scott, Director Lyle Davis, Director Paul Larkin, Director Robert Boyd, Director Francisco de Undurraga, Director Patrick Burns, Director Graham H. Scott, Corporate Secretary & Director Principal of VECTOR Corporate Finance Lawyers. John S. Watt, Chief Financial Officer Chartered Accountant with over 37 years of business experience. 3

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5 Project Generator case study: SOLEDAD Late 2011 open concession staked Early 2012 Condor wins sealed bid auction April June 2012 geophysics, sampling, etc. October 2012 proposal from major to earn 51% over 3 years - turned down by the company October 2012 DIA application submitted July 2013 DIA received September 2013 letter of intent signed. Optionee can earn 70% over 4 years, by payments totalling US $1.1m, and exploration work totalling US $4.0m 5

6 Project Generator Case Study Timeline of less than 2 years Value add by Condor: Identification of project of merit 100% interest acquired for reasonable consideration in this case about $30,000 via sealed bid auction Securing the DIA (9 months), without expensive consultants Structure of transaction when the optionee earn their 70% interest, a seamless ownership transition A professional approach from start to finish. 6

7 Project Generator Case Study our Soledad project textbook example of project generation. And this is the model we will duplicate with our other projects: Identification of project of merit 100% interest acquired for reasonable consideration Chavin, Lucero, and Quriurqu for example Securing the DIA we are very close on Pucamayo east Structure of the transaction this one shall remain a trade secret 7

8 Sealed Bid Auction a recent example Peru use computerized concession system, analogous to BC s, but with one major difference On the day the concession becomes open, more than one party can claim it The Ministry of Energy and Mines (MEM) will then advise all of the claimants, and schedule a date for the auction It s a formal affair, with court reporters and MEM officials; envelopes are opened, the bid amounts recorded and reported Results from August; 8 sq km concession, about 80km from Soledad 12 bidders; range in bids from $60 to $650,000 4 of 12 bids were under $1,000 4 of 12 bids were in the range of $1,000 to $10,000 4 of 12 bids were > $50,000 (2 > $100,000) 8

9 PERU: PRINCIPAL MINERAL DISTRICTS ECUADOR ECUADOR BOLIVIA BOLIVIA BRASIL BRASIL PACIFIC OCEAN PACIFIC Kilometers Kilometers OCEAN CHILE CHILE BOLIVIA BOLIVIA LEGEND LEGEND Condor projects Condor projects Fault Fault Trench Ridge Transform Kilometers Kilometers CHILE CHILE 9 Source: Peruvian Mineral Districts by S. Meldrum

10 Soledad and Quriurqu Projects, Ancash Department 10

11 Soledad Project 7.13 sq km 11

12 The Soledad property comprises a number of mineralized hydrothermal breccia pipes. 12

13 13 A 2012 Geophysical survey delineated known breccia zones, as well as a previously unrecognized zone of intense advanced argillic alteration.

14 Quasi 3D view, with two vertical sections running north-south 14

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16 Holes 1 and 9 16

17 174m high grade interval from 92m to 266m 17

18 Breccia #5 is about 830 metres west of Breccia #1 18

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22 Ever Marquez with core from hole 9 at Soledad gold-copper-silver project; core from 165m depth. Grade from 165m to 166m was 2.5% copper, 378 g/t silver, and 1.0 g/t gold. 22

23 Huancapeti Mine shown in foreground 23

24 SOLEDAD: Conclusion Great example of a successful project generator model Condor s blueprint for our other quality projects in Peru Some of the best mineralized intervals reported in 2014 More geophysics this month Drilling in early 2015 With the work done to day, and the upcoming geophysics, there will be some great drill targets

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26 APPENDIX I: CONDOR DE ORO 102 sq km project is located in precious and base metals belt that is host to Fruta Del Norte, Mirador, and others, in Ecuador. Option agreement signed on 34 sq km Area 1 with Mariana Resources Ltd. Mariana can earn 51% interest over 4 years with cash payments of US$2.5 million, and US$12.5 million in work programs. Initial 8 hole 2,585m drill program completed August Drilling to date has confirmed the target size, intense alteration, and precious and base metal mineralization. 26

27 Cordillera del Condor hosts numerous large tonnage precious & base metal deposits

28 Mariana s option covers 34 sq km in the area of the Pucayacu target 28

29 Pucayacu Target at Condor de Oro (Gold Silver Copper) Panoramic view showing base camp with helicopter pad located in center of the Au-Ag-Cu mineralized system. 29

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31 Contact Information Head Office Condor Resources Inc. Suite 1700, 750 West Pender Street Vancouver, BC Canada, V6C 2T8 Phone: Fax: Toll Free: info@condorresources.com Lyle Davis, President/CEO ldavis@condorresources.com 31