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Condor Gold commences drilling on Cacao Vein

Published by
Global Mining Review,


Condor Gold has commenced a 5000 m diamond drill programme at the Cacao prospect at La India Project, Nicaragua. Cacao is located 4 km from the planned processing plant at our fully permitted La India mine. It is a potential satellite deposit to the already permitted La India, America and Mestiza opencast.

The drill programme has three main objectives:

  1. To increase the inferred mineral resource on the Cacao Vein.
  2. To increase the strike length of the vein towards the Santa Barbara prospect, 3 km away.
  3. To prove the structural geological model that Cacao represents a dilational opening between two major basement feeder zones (the La India and Andrea Corridors).

Highlights

  • 5000 m diamond drill programme commenced at the Cacao prospect at La India Project with the objective of increasing its mineral resource.
  • Drilling will concentrate on demonstrating the depth of the main gold mineralisation level and extending it along strike.
  • Cacao already hosts an inferred mineral resource of 662 000 t at 2.8 g/t gold for 60 000 oz gold defined by Condor from 2890 m drilling in 2019.
  • Cacao is a highly prospective target, sitting on a major dilational opening between two major feeder zones (La India and Andrea Corridors).
  • The Cacao vein is one of the thickest in the district, comparable to the main La India Vein. Mineral textures are identical to La India.
  • Isolated exposures of quartz veins in bedrock and colluvium suggest the Cacao structure extends for 3 – 4 km. Samples from active artisanal mine workings in the Rio Viejo, approximately 1.6 km along strike from Cacao returned assays of up to 11.6 g/t gold.
  • A hot spring deposit (sinter) at Cacao indicates minimal erosion, with the entire epithermal system preserved. Sinter is the rock found at the top of an epithermal boiling zone.
  • Higher grades at depth at Cacao. Previous drilling indicates improving gold grade at depth, suggesting the presence of a boiling-related bonanza zone.
  • Mineralisation is open down-dip and along strike.
  • Historic drilling by Condor demonstrated broad zones of gold mineralisation: intercepts included:
    • 7.85 m at 3.75 g/t gold.
    • 7.85 m at 2.95 g/t gold.
    • 17.1 m at 1.74 g/t gold.
  • The principal vein shows excellent continuity.
  • Underlying felsic, glassy volcanic rocks are anticipated at depth. These are a more favourable host for veining, for example at La India. The andesite/felsic contact may be especially favourable for veining and bonanza grade.
  • Potential satellite mine: the prospect is only 4 km from the planned and permitted processing plant at La India.

Mark Child, Chairman and CEO, commented: “Condor has successfully permitted a new processing plant of up to 2800 tpd, along with the associated mine site infrastructure, and is currently completing detailed engineering studies to make the project ‘shovel ready’. Initial production is expected to be 120 000 oz/y gold from three permitted opencasts. In parallel, Condor is now embarking on the exciting second part of its strategy: demonstrating the potential for a 5 million oz Gold District with the initial focus on a 5000 m drilling programme at Cacao.

“The company considers that the significant potential of Cacao is now demonstrated via its 2890 m of drilling, resultant inferred mineral resource of 662 000 t at 2.8 g/t gold for 60 000 oz gold and subsequent geological interpretation. Cacao is open at depth and along strike in both directions. The vein width is comparable to the best intersections at La India and the hanging wall of the vein is increasingly stockworked, as at La India. Structurally controlled ore shoots, as at La India, are to be expected in this major dilational, and continuous, vein. The next phase of drilling at Cacao will test the interpretation that it is largely a concealed gold deposit. It aims to demonstrate the depth of the main gold mineralisation and extend it along strike and increase the inferred mineral resource.”

Mineral resource estimation

Resource modelling suggests that Cacao is amenable to opencast and underground mining, despite the lower grades encountered at surface.

The company considers that the significant potential of Cacao is now demonstrated. It is open at depth and along strike. The vein width is comparable to, or greater than, the best intersections at La India. The epithermal textures indicate boiling conditions, good for high-grade gold. And, as at La India, structurally controlled ore shoots are expected in this major dilational, and continuous, vein. The next phase of approximately 5000 m of drilling will test the interpretation that Cacao is a major concealed gold deposit. Drilling will concentrate on demonstrating the depth of the main gold mineralisation level and extending it along strike.

Read the article online at: https://www.globalminingreview.com/exploration-development/22022021/condor-gold-commences-drilling-on-cacao-vein/

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