Condor Gold
Condor Gold Plc is a UK based AIM listed exploration Company focused on proving a large commercial reserve on its 100% owned La India Project in Nicaragua.
At 18th September 2012, La India Project has a Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards resource of 2.4M oz gold at 4.6g/t including 751,000 oz at 4.4g/t in the Indicated Category, as required by NI 43-101 . La India Project resource includes a high grade open pit resource of 954,000 oz gold at 3.6g/t gold. A preliminary economic assessment is currently underway. In addition to the La India Resource, 87k oz gold on the Rio Luna Resource takes Condor's total resource to 2.5m oz gold in Nicaragua to CIM standards.
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Condor Gold: America vein likely to become high priority target - Ocean Equities
The America vein area is likely to become a high priority exploration target for Condor Gold (LON:CNR), following yesterday's encouraging results, reckons broker Ocean Equities.
Trenching showed gold mineralisation with highlights, including 10 metres at 3.56 g/t and 3.6 metres at 6.17 g/t.
The historic America mine is part of the La India exploration project in Nicaragua.
"The trench results are from an area above the historic mine workings on the vein that have yet to be drill tested by the company, with previous drilling on the vein targeting virgin ground," said analyst Christopher Welch.
He said the best finds were from trenches across remnant pillars in the shallow underground mine workings exposed at surface.
"These early results are interesting as the hanging wall and footwall mineralisation suggests this is another area where smaller veins coalesce as occurs at the La India Veinset area but further exploration is required to prove this.
"This area will likely become a high priority exploration target while Condor continues to develop the open pit potential at the La India Veinset area. Continued trenching and drilling should yield positive results in the near term."
Condor recently announced an open pit resource on La India/California veins of 954,000 ounces of gold at 3.6g/t.
It has now begun follow up trenching, using a digger at 50 metre intervals, over the 1,200 metre length of the historic mine.
The firm plans to follow up with a 2,000m drill programme through the old mine workings.
If successful this may prove a second open pit resource on La India project.
Other Condor Gold news
- Condor Gold kicks off work to consider La India pit dynamics
2013-04-25 - Condor Gold announces next stage of drilling programme
2013-04-24 - UPDATE: Condor Gold unveils further positive La India results
2013-04-15 - Condor Gold stakeholder passes on third funding top-up
2013-03-22 - Condor Gold's drilling continues to make the grade
2013-03-04
