Condor Gold (LON:CNR) says a high-grade intercept to the south of its proposed La India open pit in Nicaragua hints at the untapped potential of going underground.
The latest drill campaign intercepted a 7.55 metre section grading 10.2 grams per tonne.
Condor said this indicated an extension to high grade gold mineralisation 100 metres outside the planned pit shell and next to underground resource.
And chief executive Mark Child explained that “the intercept demonstrates that the underground mining potential at La India may currently be significantly underestimated”.
The company’s geologists are almost halfway through a 4,000 metre drill programme having completed 1,952 metres. So far they have received back assay results for 1,324 metres.
The results from three other holes generated grades of 1.17 grams and below.
In the same announcement Condor said soil sampling on the La Mojarra concession near La India has generated two drilling targets.