Condor Gold plc has received all assay results from the first phase of infill drilling of 39 holes for 3,372 metres on the Mestiza open pit near La India project in Nicaragua.
RESULTS
Assay results include:
4.1 m true width at 15.23 g/t gold from 47.80 m (LIDC514) approximately 40m below surface.
3.6 m true width at 29.1 g/t gold from 105.70m (LIDC471) approximately 85m below surface.
Two drill rigs are operating at the site and drilling is due to be completed within six weeks.
| Drill hole ID | Intercept From (m) | Intercept To (m) | Interval (m) | True Width (m) | Au (g/t) | Ag (g/t) | True grade-width (gm/t) | |
| 1 | LIDC471 | 105.70 | 109.60 | 3.90 | 3.6 | 29.09 | 51 | 104.4 |
| 2 | LIDC344 | 76.70 | 80.00 | 3.30 | 2.4 | 28.34 | 39 | 68.4 |
| 3 | LIDC514 | 47.80 | 52.30 | 4.50 | 4.1 | 15.23 | 23 | 62.6 |
| 4 | LIDC358 | 160.50 | 164.05 | 3.55 | 2.6 | 23.34 | 67 | 60.6 |
| 5 | LIDC365 | 142.60 | 146.20 | 3.60 | 3.3 | 13.72 | 14 | 45.5 |
| 6 | LIDC523 | 21.20 | 22.35 | 1.15 | 1.0 | 43.40 | 34 | 45.2 |
| 7 | LIDC360 | 40.30 | 43.40 | 3.10 | 2.6 | 14.44 | 29 | 38.0 |
| 8 | LIDC500 | 206.05 | 208.92 | 2.87 | 2.7 | 13.91 | 15 | 37.7 |
DRILL PROGRAMME
The total drilling programme on Mestiza open pit is for approximately 7,800m.
The first phase of 3,371.58m infill drilling has ‘tightened-up’ the drill spacing from a mix of 50m to 100m spacing to a regular 50m along strike and 50m down-dip grid.
Condor said that the results were consistent with previous drilling grades and widths, demonstrating good continuity in gold mineralisation between adjacent drill holes in the high grade zones.
PHASE II
A second phase of approximately 4,500m of infill drilling to 25m along strike and 50m down-dip spacing is underway in the area of the principal open pit resource on the Tatiana vein.
The drill programme aims to upgrade a significant proportion of the 85,000 oz gold open pit MRE in the inferred category to the indicated category.
MINE SCHEDULES
Chairman and chief executive Mark Child added that the Mestiza open pit was targeted for early production.
“The high grade drill intercepts announced today may add to our mineral resource inventory at Mestiza and possibly improve the project’s economics, although this will only be confirmed at the conclusion of this drilling campaign.
“The September 2021 PEA estimated the Mestiza open pit can currently deliver a fully diluted mill feed of 499Kt at 5.37g/t gold for 86,000 oz gold.
“The tighter drill spacing has delivered relatively shallow, high grade drill intercepts which add considerable confidence to the existing monthly mine schedules.”