Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said assay results from 8,004 metres (m) of infill drilling within the Mestiza open pit at its La India project in Nicaragua demonstrated good continuity of gold mineralisation.
The programme is designed to convert the Inferred Mineral Resource to a higher degree of confidence Indicated category ahead of inclusion within the overall mine plan.
Ninety-six holes were drilled as a part of the programme with the best of the results a gold intercept at a true width of 6.3m at a grade of 6.84 grams per tonne (g/t) gold at depth of around 31m.
Mestiza, which is 3 kilometres from the proposed site of the main La India processing plant, currently has an Indicated resource of 36,000 ounces (oz) and an Inferred resource of 85,000oz.
Mark Child, Condor’s chief executive, said: “It has long been recognised that the Mineral Resource on the Mestiza Vein Set has the potential to double with additional drilling beyond the current mineral resource; in 1991 the Mestiza Vein Set was assigned a Soviet-style mineral inventory classification of 2,392 kt at 10.2 g/t gold for 785,694oz gold."