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Condor Gold Plc
Summary
| Project: | La India | |
|---|---|---|
| Deposit: | Mestiza | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 5/22/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-5-2017: Condor Gold Plc announces an Exploration/Drilling Update report for its Mestiza deposit at the La India project. Drilling results incl. 3.3m @ 28.34g/t Au, 38.9g/t Ag from 76.7m. Condor Gold (AIM: CNR) is pleased to announce drill results from | |
| Resources: | (Resource, Inf.): 1.49Mt @ 7.5g/t Au for 333koz Au contained at Mestiza (NI43-101 compliant) | |
| CP/QP: | [Overall Report]: Peter Flindell (Not stated) | |
| ABSTRACT: | Condor Gold (AIM: CNR) is pleased to announce drill results from an initial 2,000 m drill programme on the Mestiza Vein Set ('Mestiza') at La India Project, Nicaragua. The objective is to test an historic, relatively shallow, Soviet mineral resource (2,392 kt at 10.2 g/t gold for 785,694 oz gold). Initial results from the Tatiana Vein, one of the constituent veins, are excellent. The programme continues. Mark Child, Chairman and CEO comments: 'The initial drill results at Mestiza of 3.3 m at 28.3 g/t gold and 2.65 m at 12.6 g/t gold are highly encouraging. The objective is to convert an historic Soviet-style mineral resource of 2,392 kt at 10.2 g/t gold for 785,694 oz gold to Canadian NI 43-101 standard. This will boost the current NI 43-101-compliant Inferred Mineral Resource at Mestiza of 1,490 kt at 7.47 g/t for 333,000 oz gold. Mestiza is excluded from the current mine plans in the PFS and PEAs. A successful resource conversion has the potential to add large, high grade, and relatively shallow resources to a future mine plan, thereby increasing the annual gold production, life of mine and project economics. The Tatiana vein has excellent continuity for 1.5km and is a 4-5 m wide mineralised structure. In the past few days a second rig has commenced drilling on Mestiza." | |
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