Recent sampling work by Condor Gold (LON:CNR) has identified a potential gold-bearing corridor 9km north of its planned mine at La India in Nicaragua.
The junior was following up targets identified by field work last year and Condor has now expanded its soil survey to cover the remaining 242 sq km of the La India acreage.
Condor picked up 114 rock chips during the 2015 work, of which 15 had gold values of 1-5 g/t and 6 were greater than 5 g/t.
This included a 53.9 g/t sample from a new site in the Los Limones area.
“This is significant when put into the context of the high level epithermal characteristics observed in this area, including opaline quartz, sinter and silicified wood fragments,” Condor said.
Mark Child, chief executive, added: “A high grade rock chip of 53.9 g/t gold at the northern end of the Andrea-Limones mineralised corridor, some 6 km away from the nearest gold mineral resource, is highly encouraging.”
More trenching work is now planned in this area, he said.
In addition, Condor has appointed Dr Warren Pratt as is new senior geological consultant.
He was involved in the due diligence carried out by Canadian investor Ross Beaty ahead of his recent investment in the company and will produce a detailed geological, stratigraphic and structural map of La India Project.
Beaty took just short of a 7.2% stake in April when Condor raised £2.6mln.