In a statement, the AIM-listed firm said the initial seven drill holes have focused on the Tatiana Vein and results to date have been excellent and broadly validated the Soviet era drilling.
Importantly, Condor said, the current drilling has, with only one exception, achieved 100% recovery of the vein zone, including late fault breccias along the structure.
Condor said a second drill rig has arrived on site and the initial programme increased to 3,000m.
In reponse, Condor shares were 3.6% higher in early moring trading, up 2.0p at 57.5p.
Mark Child, Condor’s chairman and CEO said: “The initial drill results at Mestiza of 3.3m at 28.3 g/t gold and 2.65m at 12.6 g/t gold are highly encouraging.
“The objective is to convert an historic Soviet-style mineral resource of 2,392 kt at 10.2 g/t gold for 785,694 oz gold to Canadian NI 43-101 standard.
“This will boost the current NI 43-101-compliant Inferred Mineral Resource at Mestiza of 1,490 kt at 7.47 g/t for 333,000 oz gold.”
Condor commenced drilling with one rig on Mestiza on March 23, to test the Soviet drill intercepts.
Soviet-backed drilling in 1991 estimated a Soviet-style mineral resource of 2,392 kt at 10.2 g/t gold for 785,694 oz gold at Mestiza.
The bulk of the resources are contained within the Tatiana vein, the largest of the four main veins on Mestiza.
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