La Calera Project
The La Calera Project, located 45km northeast of San Salvador, consists of a single concession covering 42kmž and is 100% owned by Condor's subsidiary Minerales Morazan S.A de C.V.
Targets at La Calera are structurally controlled quartz-calcite veins and vein breccias, hosted by strongly propylitically altered andesitic volcanic, volcaniclastic and agglomerate units. These veins exhibit characteristics typical of epithermal gold-silver mineralisation, including quartz and bladed calcite, colloform banding, low sulphide content (pyrite generally <5%) and bonanza gold grades (up to 1m at 91g/t gold in trench samples). At La Calera a number of close-spaced parallel mineralised veins are recognised over a strike length of approximately 2km.
A total of five sub-parallel veins, striking in a generally north-northwest direction, have now been identified spread across a 500m cross-strike distance. From west to east these are referred to as the Acevedo, Escobar, Calichal, Rosa West, and Rosa vein systems. The dip of the veins varies, with all the veins dipping steeply to the northeast, except for the Rosa West veins which dip to the southwest. The Rosa, Rosa West and Calichal veins are the principal veins in terms of grade, width, and continuity of strike and dip, with over 1200m of strike length defined to date on the Rosa vein.
An extensive programme of trenching was undertaken by Condor (Minerales Morazan) in 2006 and 2007, during which time the Acevado and Escobar veins were identified and the three principal veins extended and defined at 80m trench-spacing. Significant new intercepts include 20m at 3.6g/t gold and 3.9g/t silver from the Rosa Vein, and 12m at 7.5g/t gold and 6.3g/t silver from the Rosa West Vein. A resource calculation announced in February 2008, utilising the extensive trench sampling database and supplemented by the existing drilling coverage, estimated an inferred resource of 6Mt at 1.6g/t gold and 1.4g/t silver for 310,000oz gold and 270,000oz silver.
Indications of hydrothermal alteration have been noted further along the mineralised trend and with drilling, Condor (Minerales Morazan) is confident of extending the known mineralised system to a total potential strike length of some 2,000m. As evident in the field, the main vein system can be easily traced laterally through its surface expression.
Less than 20% of the La Calera Concession has been explored to date and the possibility of similar epithermal vein gold mineralisation elsewhere on the concession is considered high. Condor (Minerales Morazan) has secured all previous data including assay results, mapping and diamond core for the concession from a previous owner. This has greatly assisted with advancing the exploration programme on the concession area. As soon as Condor (Minerales Morazan) receives the necessary environmental permits from Government further drilling and the definition of a substantial mineral resource is planned.
Please click here for La Calera Prospect plan.
Please click here for La Calera Prospect cross-section.