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Condor Gold Plc
Summary
| Project: | La India | |
|---|---|---|
| Deposit: | La India | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 11/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-11-2017: Condor Gold Plc announces a Pre-Feasibility Study report for its La India deposit at the La India project. Refiled technical report for pre-feasibility study at La India project. Condor Gold (AIM: CNR), the AIM-listed Nicaraguan focused gold e | |
| Resources: | (Reserve, Prob.): 6.9Mt @ 3.0g/t Au, 5.3g/t Ag at La India | |
| CP/QP: | [Resources]: Benjamin Parsons (SRK Consulting (UK) Ltd.) | |
| ABSTRACT: | Condor Gold (AIM: CNR), the AIM-listed Nicaraguan focused gold exploration company, is pleased to announce the results of its Pre-Feasibility Study (“PFS”) and updated Preliminary Economic Assessments (“PEA”) for its 100% owned La India Project in Nicaragua. “The Pre-Feasibility Study on La India Project has demonstrated a robust, economically viable base case on La India open pit with a post tax IRR of 22% using a US$1,250 gold price. Maiden Mineral Reserves are 6.9Mt at 3.0g/t for 675,000 oz gold. A 0.8Mtpa plant produces average annual production of 79,300 oz gold over 7 years with lower quartile all-in-sustaining cash costs (“AISC”) of US$690 per oz gold. A high-grade 3g/t gold open pit mineral reserve has resulted in a relatively small 2,300tpd plant with resultant low upfront capital cost of US$110 million including contingency. The two Preliminary Economic Assessments (“PEAs”) highlight the flexibility, scalability and economic upside of La India Project. The first PEA includes existing PFS reserves as well as open pit mineral resource extensions. This PEA envisions a 1.2Mtpa plant and increases average annual production to 96,800 oz gold for 8 years, while retaining the low AISC at US$685 per oz and upfront capital costs remain low at US$127 million including contingency. | |
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