Condor Gold plc said results from a 8,004m infill diamond drill programme of 96 holes demonstrated continuity in gold mineralisation at La Mestiza open pit at La India project in Nicaragua.
DRILL PROGRAMME
The company added that results were consistent with previous drilling grades and widths.
This shows “excellent” continuity in gold mineralisation between adjacent drill holes in the high-grade zones, adding confidence to the geological model.
Drilling has tightened drill spacing to 25m along strike and 50m down-dip in the zones that have the potential to support open pit mine development.
The programme aimed to upgrade the existing open pit gold mineral resource to the indicated category for potential inclusion in a future feasibility study of La India gold mine development.
RESULTS
Assay results include:
6.3m true width at 6.84 g/t gold from 31.45m (drill hole LIDC568, approximately 50m below surface outcrop which occurs on a rise).
4.1m true width at 15.23 g/t gold from 47.80m (drill hole LIDC514) approximately 40m below surface.
3.6m true width at 29.1 g/t gold from 105.70m (drill hole LIDC471) approximately 85m below surface.
LA MESTIZA
La Mestiza open pit has a mineral resource of 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.
Condor said that La Mestiza open pit contains an estimated fully diluted mill feed of 499Kt at 5.37g/t gold for 86,000 oz gold in the October 2021 PEA and is targeted for early extraction.
La Mestiza vein set remains open down dip and along strike in both directions and has parallel veins identified by rock chip sampling and trenching.
The company added that this had potential for further resource expansion and discovery.
HISTORICAL DRILLING
Drilling during 1991 estimated a Soviet-style mineral inventory classification of 2,392Kt at 10.2 g/t gold for 785,694 oz gold at Mestiza, indicating exploration potential beyond the current mineral resource.