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Condor Gold Plc
Summary
| Project: | La India | |
|---|---|---|
| Deposit: | La India | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 1/27/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-1-2017: Condor Gold Plc announces an Exploration/Drilling Update report for its La India deposit at the La India project. Drilling results incl. 17.1m @ 1.74g/t Au, 1.3g/t Ag from 92.7m. Condor Gold (AIM:CNR), is pleased to announce, further to the ann | |
| Resources: | (Resource): 18Mt @ 4.0g/t Au for 2.31Moz Au contained at La India | |
| CP/QP: | [Overall Report]: Warren Pratt (Not stated) | |
| ABSTRACT: | Condor Gold (AIM:CNR), is pleased to announce, further to the announcement of 15 December 2016, the scout drilling results for four drill holes totalling 719.6 m on the Cacao Prospect at the La India Project. This drilling is designed to test targets with the potential to contribute to La India’s high grade mineral resource of 18 Mt at 4.0 g/t for 2.31 Moz gold. Of this, 57% or 1.3 Moz gold is hosted by the La India Vein Set and the remaining 1 Moz is hosted in 6 smaller, separate resources such as Cacao, which has 590,000 tonnes at 3.0 g/t gold for 58,000 oz gold. The scout drilling hopes to demonstrate that La India is a true gold District, with excellent potential to substantially increase the global resource. ‘Condor’s strategy of proving that the La India Project is part of a major gold District continues to yield positive results. The 719.6 m drilling at Cacao demonstrates a significant dilational vein. This vein forms within a major linking structure between two major basement feeder zones identified by regional soil sampling and airborne geophysics (La India and Andrea Corridors - see map below). New drill results of 7.85 m at 3.75 g/t gold and 7.85 m at 2.95 g/t gold build on results from Condor’s prior drilling (including 2.6 m at 34.13 g/t gold and 14.05 m at 6.05 g/t gold). The vein is comparable to some of the best intersections on La India vein. It is important to emphasise that Cacao is at the top of an epithermal gold system, preserved because the regional Highway Fault Condor Gold plc 7 th Floor 39 St. James’s Street London SW1A 1JD Telephone +44 020 74932794 Fax: +44 020 74938633 2 drops down the entire system towards the southeast. The Cacao vein is open down dip and along strike with signs of being substantially bigger and is prioritised for further drilling to expand the mineral resource.’ | |
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