Condor Gold plc has identified a “highly significant” fully preserved epithermal vein system over a 1,000m strike length with a 10m true width, at the Cacao prospect at La India project in Nicaragua.
DRILL OBJECTIVES
A total of 15 drill holes for 3,500m were completed to test whether the near surface gold mineralisation at Cacao was the top of a fully preserved epithermal gold system.
The company also aimed to discover whether the gold mineralising system, buried below surface, extended beyond the 450m long outcrop where all the drilling had to date been concentrated.
Condor said that both objectives had been achieved with a wide zone of high-grade gold mineralisation intercepted below the current mineral resource, and a wide low-grade gold anomaly identified along strike of the outcropping mineralisation.
The latter might be the top of a completely hidden, deep-seated extension of the Cacao epithermal gold system.
The company is planning follow-up drilling to test both targets at greater depths.
GOLD DISTRICT
Chairman and chief executive Mark Child said part of Condor’s strategy was to demonstrate a 5 million oz gold district.
“A 10 metre plus true width mineralised zone including the main Cacao vein has been confirmed for a strike length of approximately 1,000m beneath and extending to the east of the current Cacao mineral resource of 662 Kt at 2.8 g/t gold for 60,000 oz gold.
“Drill hole CCDC033 intercepted 14.9m true width at 3.94g/t gold beneath the existing mineral resource, and 700 m along strike of this intercept, drill hole CCDC028 intercepted 32.9m true width at 0.38g/t gold.
“The current round of drilling has been interpreted to be clipping the top of the gold mineralising system, with the gold grade increasing at depth.
“It is highly significant that a wide, greater than 10m true width, mineralised zone for a strike length of 1,000m, open along strike and down dip, has been identified with grades increasing at depth.”