Condor Gold PLC (LON:CNR)(TSE:COG) has drilled 25.93 metres of gold, or 14.9 metres true width grading at 3.94 grams per tonne gold from a depth of 263.82 metres at the Cacao prospect in Nicaragua.
Cacao is located approximately four kilometres from the planned processing plant at Condor’s fully permitted La India gold mine, and is thus being assessed as a potential satellite deposit.
Within the intercept there was also a higher grade zone which ran at 4.58 metres or 2.6 metres true width grading 7.76 grams per tonne gold.
This is the best drilling intercept returned to-date from the Cacao prospect.
Furthermore, the result supports the geological model that Cacao is a fully preserved, deep-seated epithermal gold mineralisation system, with the potential to host a significant gold deposit.
Condor has completed 3,500 metres of a 5,000 metre diamond drilling programme to explore the potential of the Cacao prospect to host a significant gold deposit.
Cacao has an existing resource of 662,000 tonnes at 2.8 grams gold for 60,000 ounces of gold on a strike length of only 600 meters.
“The potential to add further gold mineral resource ounces from Cacao may have a significant impact of the overall value of our existing La India project,” said Condor chief executive Mark Child.