Condor Gold plc reported “significant” assay results from sampling of geotechnical drill holes on the open pit at La India project in Nicaragua.
RESULTS
The company said that the twin geotechnical drill holes LIGT528 and LIGT536 provided a useful additional infill in the planned Northern starter pit.
Intercepts were within and between the planned high-grade starter pits and provided additional confidence to the mineral resource in the area.
Results included:
– 34.1 m true width at 2.56 g/t gold amalgamated from 2.8m drill depth including 6m at 4.3 g/t gold, 2m at 5.3 g/t gold and 3.65m at 8.75g/t gold (drill hole LIGT536), within the planned Northern starter pit.
– 28.7 m true width at 2.62 g/t gold in the hanging wall of historic mine workings (LIGT528).
– 5.3m true width at 3.11 g/t gold from 36.00 m drill depth, and 5.1m true width at 2.70 g/t gold from 51.45m drill depth in drill hole LIGT531.
This was in an area previously interpreted as a low-grade zone between two high-grade shoots that host the planned starter pits.
ECONOMICS
“A wide zone of 34.1 metres true width of good open pit grade gold mineralisation of 2.56 g/t gold from only 2.80 metres drill depth is ideal material as initial mill feed for the permitted processing plant and supports the attractive project economics and 12 month pay back detailed in the PEA technical report filed in October 2021,” said chairman Mark Child.
“This was a geotechnical drill hole within La India open pit that was initially surveyed and analysed for structures and rock strength, which once completed, was assayed for gold and silver.
“It adds confidence to the geological model for the forthcoming feasibility study and serves as a timely reminder of the wide zones of material with good open pit gold grade available near surface within the fully permitted La India project.”