Condor Gold plc said it had started a 1,700m infill geotechnical drill programme at its La India open pit, Nicaragua.
The five to six-week programme using two rigs aims to achieve a feasibility level of design by SRK Consulting (UK) Ltd as well as complement other feasibility study level programmes underway.
Condor Gold added that the programme aimed to collect high quality data to allow refinement of pit wall design slopes, that will potentially have a positive impact on the waste-stripping quantities.
If successful, this could subsequently expand the reserves within La India open pit, particularly if the pit pushes deeper.
DRILL PROGRAMME
The programme comprises a total of 13 diamond core drill holes ranging from 50m to 200m from surface with an average length of 131m.
Drilling will be conducted with oriented core equipment, followed by either acoustic or optical
televiewer logging to confirm structures and rock types.
“The feasibility-level of designs of the geotechnical study builds on the 2014 pre-feasibility study [PFS] on La India open pit, which hosts a probable mineral reserve of 6.9 million tonnes at 3.1 grams per tonne gold for 675,000 ounces of gold,” said chief executive Mark Child.
“The PFS was conducted at a $1,250 gold price. Beneath La India open pit there is an underground mineral resource of 678,000 tonnes at 4.9 grams per tonne gold for 107,000 ounces of gold in the indicated category and 1.116 million tonnes at 5.6 grams per tonne gold for 209,000 ounces of gold in the inferred category.”