Shares of Canada's Condor Resources Inc rose as much as 15 percent on Tuesday, a day after the base metal miner said it discovered high grade silver at its Peru project.

Condor's shares were trading up at 27 Canadian cents on Tuesday morning on the Toronto Venture Exchange. The stock was one the top gainers on the exchange, with more than 300,000 shares changing hands by 1020 ET.

A total of 99 of the 145 samples from the Condor's San Martin property returned silver assays with values in excess of 15 grams per tonne, the company said in a statement.

Condor, which also has properties in Chile, said it plans to conduct an geophysical survey at the property soon.