Condor Gold confidence boosted further as La India starter-pits unearth high grade drill results

Condor Gold Plc (LON:CNR, TSX:COG) has completed a programme of infill drilling at the La India mine’s starter-pits ahead of a phased development in Nicaragua where the company seeks to boost the economics of early production.

Two starter pits were tested with drill holes in the programme. A total of 44 diamond-core drill holes were drilled for some 2,290 metres.

Results are already in for 29 holes and they confirm high grades. It supports and, significantly, adds confidence to the group’s geological model for the mine project.

“The starter pits are shallow, within 35 metres of the surface and contain 455Kt at 4.17g/t gold for 59,674 oz gold using a 2.00g/t cut off grade,” said Mark Child, Condor chairman. “The intention is to mine them early to quicken the payback period and enhance the project’s economics.”

Drill rigs remain on site and are turning in locations immediately adjacent to the starter pits, with the work following up prior reverse circulation drilling.

Whilst these areas are not in the starter pits, they do fall within the intended main La India open-pit shell, as defined in previous resource estimates.

Highlight drill results from the starter-pits included a 22 metre intersection with 6.48 grams per tonne gold, including 15 metres at 8.68 g/t.

Another showed 5.3 p/t in a 16 metre intersection, within which was 12.35 g/t over 5.9 metres.

Results are awaited for the remaining starter pit holes, and, in the adjacent areas there’s some 1,142 metres of drilling left to be done.

Story by ProactiveInvestors