Condor Gold PLC (AIM:CNR, TSX:COG, FRA:W5XA, OTC:CNDGF) said the latest results from in-fill drilling at the Mestiza open pit at its La India gold project in Nicaragua showed good continuity in mineralisation between adjacent drill holes in the high-grade zones.
The total drilling programme on Mestiza Open Pit is approximately 7800 metres with 2 drill rigs operating on the site. The drilling should be completed within 6 weeks.
Mark Child, chairman and chief executive, said: he was "delighted" with the initial results.
"The high-grade drill intercepts announced today of 4.1 m true width at 15.23 g/t gold and 3.6 m true width at 29.1 g/t gold, approximately 40 m and 85 m respectively below surface may add to our mineral resource inventory at Mestiza and possibly improve the project's economics, although this will only be confirmed at the conclusion of this drilling campaign.
“The September 2021 PEA estimated the Mestiza Open Pit can currently deliver a fully diluted mill feed of 499Kt at 5.37g/t gold for 86,000 oz gold.
“The tighter drill spacing has delivered relatively shallow, high-grade drill intercepts which add considerable confidence to the existing monthly mine schedules".
The Mestiza Open Pit sits within the La Mestiza Vein Set, which is 3 km from the permitted processing plant on Condor's La India Project and comprises several gold-bearing quartz veins.