Condor Gold plc announced the best drilling intercept to date from the Cacao prospect at the La India project in Nicaragua.
The drill intercept of 25.93m (14.9m true width) at 3.94g/t gold from 263.82m, including 4.58m (2.6m true width) at 7.76g/t gold from 282.12m drill depth was in drill hole CCDC033.
The junior miner said that the assay result supported the geological model that Cacao was a fully preserved, deep-seated epithermal gold mineralisation system, with the potential to host a significant gold deposit.
Cacao lies some 4km from the planned processing plant at La India and is being assessed as a potential satellite deposit.
OPERATIONS
Condor has completed 3,500m of a 5,000m diamond drilling programme to explore the potential of the Cacao prospect to host a significant gold deposit.
The aims of the drill programme are to demonstrate the Cacao vein has a strike length of an additional 2,500 metres, test the depth extension and increase the mineral resource.
Cacao has an existing inferred mineral resource of 662 Kt at 2.8 g/t gold for 60,000 oz gold on a strike length of only 600 metres.
The existing mineral resource is partially an open pit mineral resource, which Condor seeks to expand.