El Condor expects to double reserves at Kemess project

With this year’s first-phase drilling program on the South Kemess property complete, 60% owner and operator El Condor Resources (VSE) is predicting a doubling of reserves.

St. Philips Resources (VSE) owns the other 40% of the property in north-central British Columbia.

Prior to beginning the drilling, preliminary estimates put reserves at about 78 million tons grading 0.30% copper and 0.018 oz. gold per ton. The deposit is described as blanket shaped, measuring about 3,000 ft. long (east-west), 200 ft. wide (north-south) and 295 ft. in thickness.

Drilling to the west and southwest returned the best results with holes 91-51 through 91-53 and holes 91-70 through 91-76 returning an average intersection of 359 ft. grading 0.019 oz. gold and 0.23% copper.

Holes 91-54 through 91-69 returned lower grade, narrower intersections. Hole 91-54, which did not return any significant results, was drilled on the northern boundary while holes 91-59 through 63 were drilled on the eastern boundary, and holes 91-55 through 91-69 were drilled on the southern boundary. The recent drilling also indicates the deposit is deeper to the southwest with holes 91-70 through 91-72 hitting mineralization at between 180 ft. and 370 ft. below surface.

Drilling on the property is continuing on 330-ft. stepouts to the west in a second-phase program budgeted at $1.7 million.

Hole Interval Width Gold Copper

(ft.) (ft.) (oz./ton) (%)

91-51 45.9-363.2 317.3 0.030 0.23

91-52 20.0-659.4 639.5 0.016 0.24

91-53 10.0-249.3 239.3 0.022 0.25

91-54 no significant assays

91-55 20.0-45.9 26.0 0.004 0.25

91-56 59.1-144.4 85.3 0.011 0.24

91-57 170.6-360.9 190.3 0.011 0.18

91-58 219.8-357.6 137.8 0.013 0.25

91-59 20.1-210.0 189.9 0.008 0.09

91-60 111.5-131.2 19.7 0.008 0.10

91-61 13.1-223.1 210.0 0.006 0.11

91-62 22.0-72.2 50.2 0.010 0.16

91-63 26.2-78.7 52.5 0.006 0.10

91-68 178.8-380.6 201.8 0.011 0.16

91-69 147.0-305.1 158.1 0.013 0.20

91-70 192.9-315.0 122.0 0.020 0.14

91-71 370.7-475.7 105.0 0.010 0.12

91-72 180.4-344.5 164.0 0.023 0.20

91-73 144.4-715.2 570.9 0.016 0.22

91-74 30.0-793.3 763.3 0.015 0.23

91-75 14.0-424.6 410.6 0.022 0.27

91-76 55.8-314.1 258.3 0.021 0.23