Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) announced “significant” drilling results from the La India open pit in Nicaragua.
The intercepts were located within and between the planned high-grade starter pits and provide additional confidence in the mineral resource in this key area, the company said.
"A wide zone of 34.1 metres true width of good open pit grade gold mineralisation of 2.56g/t [grammes a tonne] gold from only 2.80 metres drill depth is ideal material as initial mill feed for the permitted processing plant and supports the attractive project economics and 12-month pay back detailed in the PEA [preliminary economic assessment] technical report filed in October 2021,” said chairman and chief executive Mark Child.
True width is based on the current interpretation of the veins and may be revised.
“This was a geotechnical drill hole within La India open pit that was initially surveyed and analysed for structures and rock strength, which once completed, was assayed for gold and silver,” said Child. “It adds confidence to the geological model for the forthcoming feasibility study and serves as a timely reminder of the wide zones of material with good open pit gold grade available near surface within the fully permitted La India project."
Other highlights from the drilling programme included 28.7m true width at 2.62g/t gold from a depth of 5.5m in the hanging-wall of historic mine workings.
The two twin holes reported today returned the 8th and 10th best intercepts to-date on the La India Vein, Condor noted.