Condor Gold plc said that final assay results confirmed that 59,672 oz contained gold within 35m of the surface would be mined early at La India, Nicaragua.
The junior miner’s two planned Northern and Southern high-grade starter pits, up to 35m deep, have now been drill tested by 45 diamond core drill holes for a combined 2,345.95m, at 25m by 25m spacing.
RESULTS
The final results from the Southern starter pit show:
6.26g/t gold over 8.1m true width from 38.0m drill depth (LIDC442) just beneath the starter pit, indicating that the pit could push deeper
6.05g/t gold over 5.8m true width from 10.2m drill depth (LIDC448)
2.36g/t gold over 11.9m true width from 7.1m drill depth (LIDC436)
Condor said that 10 drill holes for 827.40m replacing previous RC holes outside the starter pits area of influence, but within the main La India open pit, had been completed.
The drill results support the company’s strategy that approximately 447Kt at 4.17 g/t gold for 59,672 oz contained gold with 35m of surface will be targeted early for extraction.
REVISED MRE
Condor chairman and chief executive Mark Child added that the drill results strengthened the case for the starter pits to be mined early to quicken the payback period and enhance the project’s economics.
The results will be used to estimate a revised mineral resource and reserve and also further derisk the project ahead of production.
La India’s starter pits lie within the fully permitted La India open pit mineral reserve estimate of 6.9Mt at 3.1 g/t gold for 675,000 oz gold.
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