Condor Gold plc said it had started an 8,500m infill diamond drilling programme to increase resource to the indicated category in La Mestiza open pit at La India project in Nicaragua.
The existing La Mesitza open pit hosts 433kt at 8.6g/t gold for 120,000 oz gold (92kt at 12.1 g/t gold for 36,000 oz gold in the indicated category and 341kt at 7.7 g/t gold for 85,000 oz gold in the inferred category).
Preliminary mine schedules from SRK Consulting (USA) Inc indicated the potential to deliver 499kt of high grade material to the processing plant at a diluted head grade of 5.37 g/t gold, with the potential to produce 86,000 oz gold.
DRILL PROGRAMME
Two diamond core drill rigs at Mestiza have to date drilled approximately 600 metres with the programme expected to take a further four months to complete.
Condor Gold said that improving the grading of resources to the indicated category would be included in future pre-feasibility or feasibility studies.
The Mestiza vein set is open down dip and along strike and has the potential for a material
increase with additional drilling.