Condor Gold plc reported high grade intersects with the completion of infill drilling in the starter pits at La India gold project, Nicaragua.
Condor said it intended to mine them early to quicken the payback period and enhance the project’s economics.
The two planned high-grade starter pits (up to 35 metres deep) were drill tested at 25m by 25m spacing.
A total of 44 diamond core drill holes for 2,290 metres were drilled, with infilling between the pre-existing diamond core drill holes and also replacing eight reverse circulation (RC) drill holes with the higher quality diamond core.
DRILL RESULTS
The results show:
– 22.05m (21.6m true width) at 6.48 g/t gold from 24.75m drill depth including 15.35m (15.0m true width) at 8.68 g/t gold from 24.75m drilled depth (drill hole LIDC413).
– 16.00m (15.7 m true width) at 5.30 g/t gold from 18.35m drill depth, including 5.90m (5.8m true width) at 12.35 g/t gold from 22.10m drilled depth (drill hole LIDC416).
– 19.40m (18.7m true width) at 2.80 g/t gold from 28.45m drill depth, including 8.20m (7.9m true width) at 4.90 g/t gold (drill hole LIDC433).
Two drilling rigs are currently re-drilling the remaining 1,142m of RC drill samples that lie outside of the starter pits but within the main La India mineral resource open pit shell.
Assay results have been returned for 29 of the drill holes and provide a complete data set for the Northern starter pit and the first six drill holes in the Southern starter pit.
Chairman and chief executive Mark Child described the drill intersects in LIDC413 and LIDC416 as exceptional and impressive.
“Both drill results add considerable confidence to the geological model, the mineral resource and mineral reserve calculations and the mine plan.”