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Condor Gold completes La Mestiza infill drilling

Published by
Global Mining Review,


Condor Gold has announced the completion of an 8004 m infill drilling programme on the fully permitted high-grade La Mestiza Open Pit mineral resource at La India Project, Nicaragua. The drilling programme has tightened drill spacing to 25 m along strike and 50 m down-dip in the zones that have the potential to support opencast mine development. The drilling is expected to upgrade the existing opencast gold mineral resource to the indicated category for the potential inclusion in future pre-feasibility or feasibility studies of the company’s fully permitted La India Gold Mine Development Project.

Highlights

  • 96 diamond core drill holes for 8004 m infill drilling was completed on the high-grade La Mestiza Open Pit.
  • La India Open Pit has an opencast mineral resource of 92 000 t at 12.1 g/t gold (Au) for 36 000 oz Au in the indicated category and 341 000 t at 7.7 g/t Au for 85 000 oz Au in the in the inferred category.
  • La Mestiza Open Pit contains an estimated fully diluted mill feed of 499 000 t at 5.37 g/t Au for 86 000 oz gold in the September 2021 PEA and is targeted for early extraction.
  • The tighter drill spacing is aimed to upgrade the opencast gold mineral resource to the indicated category for the potential inclusion in future pre-feasibility or feasibility studies.
  • The Mestiza vein set remains open down dip and along strike in both directions, has parallel veins identified by rock chip sampling and trenching and has the potential for further significant discovery.

Mark Child, Chairman and CEO, commented: “The completion of 8004 m of infill drilling on the fully permitted La Mestiza Open Pit is another milestone achieved in de-risking the La India Project ahead of production. Condor already has monthly mine schedules for this open pit as it is targeted for early extraction. The focus of the infill drilling is to convert the Inferred material to the higher category indicated mineral resource. Drill results so far have been consistent with previous drilling grades and widths, demonstrating good continuity in gold mineralisation between adjacent drill holes in the high grade zones, for example, 4.1 m true width at 15.23 g/t Au from 47.80 m (drill hole LIDC514) approximately 40 m below surface. 3.6 m true width at 29.1 g/t Au from 105.70 m (drill hole LIDC471) approximately 85 m below surface. The September 2021 PEA estimated the Mestiza Open Pit can currently deliver a fully diluted mill feed of 499 000 t at 5.37 g/t Au for 86 000 oz Au. Assuming a 91% metallurgical recovery and a gold price of US$1700/oz, gold production would be 78 260 oz Au and revenues US$133 million.”

Read the article online at: https://www.globalminingreview.com/exploration-development/21102021/condor-gold-completes-la-mestiza-infill-drilling/

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Gold mining news South American mining news