Silvercorp Metals has unveiled plans to develop the Condor gold project in southern Ecuador as an underground operation concentrating on high-grade gold structures and rhyolitic dykes.
This decision comes after a thorough review of the technical data, including re-logging of historical core samples.
The Condor gold project encompasses a cluster of gold deposits that are distinct in their geology and mineralisation. The Camp and Los Cuyes areas contribute most known mineral resources.
Previous drilling has revealed numerous long core intersections of gold mineralisation, typically surrounded by lower-grade halos.
The company’s analysis indicates that high-grade gold mineralisation is primarily associated with subvertical vein and rhyolitic dyke structures containing pyrite and sphalerite.
Additional minerals such as galena and chalcopyrite may also be present, forming extensive low-grade halos along certain volcanic layers.
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Selected drilling intercepts demonstrate the project’s potential, with true widths exceeding 3.5m. Notable intercepts include 9.03 grame per tonnes (g/t) of gold over 8.05m at Camp; 44.16g/t over 4.5m at Enma; 8.98g/t over 16.7m at Los Cuyes; and 9.00g/t over 21.1m at San Jose.
The Condor deposits are situated within a Cretaceous volcanic complex featuring diatremes and rhyolite/dacite intrusives that intersect the Zamora batholith granodiorite of Jurassic age.
The project consists of five known deposits, each with unique geological characteristics and gold mineralisation patterns.
At Los Cuyes, gold is hosted within a volcanic diatreme, with mineralisation occurring in subvertical vein structures and sulphide dissemination within rhyolitic tuff units.
The Camp deposit’s mineralisation is controlled by north-west-striking rhyolite dykes and remains open beyond a depth of 700m.
Soledad and Guaya feature gold associated with pyrite-sphalerite veins within a rhyodacite porphyry, while Enma’s mineralisation occurs in veins within rhyolitic breccia.
The El Domo-Curipamba project, a Silvercorp-Salazar joint venture, received construction approval in Ecuador in August.
