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Condor Gold Plc
Summary
| Project: | La India | |
|---|---|---|
| Deposit: | Mestiza | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 8/30/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-8-2017: Condor Gold Plc announces an Exploration/Drilling Update report for its Mestiza deposit at the La India project. Drilling results incl. 3.6m @ 13.7g/t Au from 142.6m. Condor Gold (AIM: CNR) is pleased to announce new results from drilling on th | |
| Resources: | (Resource, Inf.): 1.49Mt @ 7.5g/t Au for 333koz Au contained at Mestiza (NI43-101 compliant) | |
| CP/QP: | [Overall Report]: Peter Flindell (Internal) | |
| ABSTRACT: | Condor Gold (AIM: CNR) is pleased to announce new results from drilling on the Mestiza Vein Set ('Mestiza') at the La India Project, Nicaragua. A drill programme of 5,922 m has now been completed. The initial focus was on the Tatiana Vein, one of the four constituent veins; later drilling tested the nearby Buenos Aires and Jicaro veins. The objective is to convert an historic Soviet mineral resource (2,392 kt at 10.2 g/t gold for 785,694 oz gold) to Canadian NI 43-101 standard. Mark Child, Chairman and CEO comments: 'The drill programme of approximately 6,000 m on Mestiza has been completed and drill rigs stood down. The highlight of results so far is a high-grade ore shoot in the Tatiana vein. This has a strike length of 450 m and an estimated average true width of 2.2 m. The shoot can be extrapolated approximately 200 m below surface; LIDC 344, which has a drill width 3.30 m at 28.3 g/t gold, is 60 m vertically beneath surface. LIDC 358, drill width of 3.55 m at 23.3 g/t gold, is approximately 100 m vertically below LIDC 344. New mapping has identified a larger vein system than previously thought. The Mestiza vein set is about 3.5 km long and about 1 km wide. Surface samples of 41.5 g/t and 47.7 g/t gold are 2 km north of the recent drilling. Mapping will continue and is aimed at identifying further high grade shoots by targeting dilational bends in the veins. Mestiza is excluded from the current mine plans in the PFS and PEA. A successful resource conversion of the Soviet-style resource 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.' | |
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