Condor - Company Highlights

Transcription

1 SEPTEMBER 2016

2 Condor - Company Highlights Condor is a project generator focused exclusively on precious and base metals exploration in Peru. Our objective is the discovery of a major new precious and/or base metals deposit. Excellent portfolio of ten discovery stage properties, four of which are farmed out. Earn-in agreement with Compañia Minera Casapalca S.A. on Soledad and Ocros projects, where Casapalca has the option to earn up to a 70% interest in each. Casapalca is expected to commence drilling at our Ocros project in September Casapalca completed a 4 hole, 2,807m drill program at Soledad in June 2016, with compelling results, including a 290m interval from surface of 2.1 g/t AuEq. Production royalty agreements are in place on the Lucero and Chavin projects, with combined annual minimum payments to Condor of US$100,000. Three new projects acquired in 2016 by staking and are 100% owned. 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 25 years of mineral exploration. Previously the Senior Regional Exploration Geologist for the Andes at Newmont Peru, and recipient of Newmont Exploration s 2006 discovery recognition award for the Breapampa discovery, now in production. Graham H. Scott, Corporate Secretary & Director Associate Counsel at MOI Solicitors, and former Principal of VECTOR Corporate Finance Lawyers. 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 Jonathan Younie, Chief Financial Officer Over 15 years accounting and finance experience with public and private companies. 3

4 EXCLUSIVELY IN PERU: TEN QUALITY PROJECTS Four projects in Ancash: Chavin is subject to production lease that pays Condor an annual royalty Soledad and Ocros both subject to earn-in agreement with Minera Casapalca Quriurqu is available for j.v. One project in Huanuco Huińac Punta was recently acquired, available for j.v. One project in Ica Pucamayo our holdings recently increased from 19 sq km to 100 sq km, available for j.v. One project in Ayacucho Humaya recently acquired and available for j.v. Two projects in Arequipa: Lucero is subject to production lease that pays Condor an annual royalty San Martin is available for j.v. One project in Puno Quilisane recently acquired, and available for j.v.

5 Ocros: Copper-Gold-Silver Porphyry project, with abandoned underground workings from the 1950s 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. Declaración de Impacto Ambiental ( DIA ) for the project received in August 2016, with Casapalca expected to start their drill program in September. The historic Eldorado mine, circa 1950s, is located on the Ocros Property. 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 at 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. 5

6 Ocros model showing 2008 drill holes relative to old workings

7 Ocros: Copper-Gold-Silver Porphyry project Abandoned Structures of historic Eldorado Mine at Ocros 7

8 Soledad - Gold/Silver/Copper prospect with very encouraging results from first and second 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 completed a four hole, 2804m drill program in June of results included 119m from surface of 2.1 g/t AuEq, 164m from surface of 1.5 g/t AuEq, and 290m from surface of 2.1 g/t AuEq. (SDH-013, 014, and 016, respectively) Prior to the earn-in agreement with Casapalca, a 12 hole, 2084m program was completed in 2014, with notable results including 161m of 2.1 g/t AuEq in SDH-012 and 174m of 4.4 g/t AuEq in SDH-009. The drilling to date supports the concept that the cluster of exposed breccias is underlain by a mineralized porphyry system. 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. 8

9 L18500E L17700E Hole From To Width Au g/t Ag g/t Cu % Mo g/t AuEq g/t** SDH ,30 27,1 0,32 2,1 includes ,79 32,9 0,48 2,8 SDH ,42 70,0 0,13 1,5 includes , ,0 1,81 25,1 includes ,37 15,2 0,05 0, , n/a n/a includes ,22 35 n/a SDH-015 No significant results SDH ,74 30,3 0,39 1,6 includes ,04 33,5 0,47 2,1 includes ,30 25,8 0,28 1,0 ** assumes $1200 Au, $16.00 Ag, $2.10 Cu, 100% recovery. From surface to 164m: 0.42 g/t Au; 70 g/t Ag; 0.13 % Cu; 1.5 g/t AuEq 2016: 4 drillholes No significant results From surface to 119m: 1.3 g/t Au; 27.1 g/t Ag; 0.32 % Cu; 2.1 g/t AuEq SDH-016, Breccia 1 LEGEND From surface to 490m: 0.74 g/t Au ; 30.3 g/t Ag; 0.39 % Cu; 1.6 g/t AuEq Includes from surface to 290m: 1.04 g/t Au; 33.5 g/t Ag; 0.47 % Cu; 2.1 g/t AuEq Drilled Holes 2016 Traces meters SDH-016, Potassic core Condor Resources Inc. SOLEDAD PROJECT 2016 DRILL HOLE MAP Projection: UTM Zone 18. Southern Hemisphere (WGS 84)

10 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)

11 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. 11

12 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 ledges in the high sulphidation area, and high grade ore shoots in the 3 former producing mines and in the numerous other veins and structures located on the property. 12

13 Pucamayo East: Gold-Silver project, Central Peru Strategic 3 sq km concession (Anta Rumi 101) acquired by staking in early sq km concession (Sandra IMG) acquired at no cost in late 2015, bringing area to 19 sq km. Concession swap in 2016 increased area to 117 sq km. 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 porphyry target, which is coincident with a 600m diameter high chargeability anomaly and anomalous gold and copper values. original 15sqkm 13

14

15 Share Structure September 7, 2016 Shares Outstanding: 91,808,241 Options: 6,000,000 Warrants: 12,150,000 Fully Diluted: 109,958,241 Working Capital* (May 31, 2016): - $0.21 million *$287,000 received since May 31 st from stock option and warrant exercise 15

16 Moving Forward Capital Preservation: Leverage on our ability to secure quality early stage projects in Peru. Advance projects via joint ventures with partners. Ocros: DIA the major environmental permit received in August 2016, and Minera Casapalca are expected to start a drill program in September Systematic channel sampling of old adit yielded 326m of 0.68% copper over its length; last mined in the 1950s by Hochschild. Minera Casapalca have an option to earn up to a 70% interest in the Ocros concessions. Soledad: Very encouraging results from the first phase drill program in 2014, and the second phase drill program completed in Drilling confirms the presence of a breccia-porphyry complex, and we believe this complex is centered at the Soledad project. Minera Casapalca have an option to earn up to a 70% interest at Soledad. Lucero concessions (ore source for the former Shila Mine/Mill): Production Royalty agreement signed in November % NSR, with annual minimum. Pucamayo East: Gold-Silver project, recently expanded from 19 sq km to 117 sq km. 16

17 Contact Information Head Office Condor Resources Inc. Suite 520, 800 W. Pender St. Vancouver, BC, Canada, V6C-2V6 Phone: // Lyle Davis, President/CEO Lima Office Av. Javier Prado Este No. 1184, Office 302 San Isidro, Lima 27, Peru Ever Marquez, VP Exploration 17