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High-grade opencast mining scenario

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Global Mining Review,

Condor Gold has presented a high-grade opencast mining scenario for the La India Project, Nicaragua, which has been developed as part of ongoing mining dilution studies being undertaken by SRK Consulting Ltd.

The high-grade opencast scenario is one of three main scenarios being considered by the company. The principal option is to proceed with the construction and development of the main, permitted La India opencast mine, with a target of 80 000 oz/y to 100 000 oz/y of gold. The second option is to add the high-grade feeder pits of Mestiza and America, which are currently being permitted, to the La India opencast mine, which would increase production to approximately 120 000 oz/y of gold for 7 years.

Highlights of the high-grade scenario include:

  • High grade opencast mining scenario delivers a robust diluted tonnage of 1 637 000 t at 4.65g/t gold for diluted head grade of 245 000 oz gold derived from the previously reported Indicated and Inferred Mineral Resources.
  • Supports high-grade option of smaller 1 000 tpd plant for five years.
  • Stockpiling may improve initial head grades.
  • Allows Condor to consider a lower initial capex start up scenario.
  • Demonstrates significant open pit mill feed for a toll milling scenario.

Mark Child, Condor Gold Chairman and CEO, commented: "Condor is running a number of mining scenarios ahead of a construction decision, one of which is based on the construction of a smaller plant which minimises capex and maximises cashflow in the earlier years of production. I am delighted with the preliminary results of the mining dilution studies by SRK on the America and Mestiza satellite feeder pits, which demonstrate that with a selective mining approach, the feeder pits could contribute a diluted tonnage of 1 249 000 t for a diluted head grade of 4.76 g/t gold containing 191 000 oz to the mine plan. When these feeder pits are added to the high-grade material within a series of ‘mini pits’ containing 387 000 t at 4.29g/t gold for 53 300 oz gold within the permitted La India opencast mine, the total diluted mill feed is 1 637 000 t at a 4.65g/t gold diluted head grade containing 245 000 oz gold. This would support a 1000 tpd production feed to either a small plant constructed by Condor or a toll milling agreement with nearby processing plants for approximately five years, while leaving the bulk of the La India opencast mine intact, along with the potential for underground production for a long-range development potential."

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