Condor Gold Commences Drilling on Cacao Vein to Demonstrate the Potential Upside of La India Project, Nicaragua
Condor Gold (AIM: CNR; TSX: COG) announced on Monday they have commenced a 5,000 m diamond drill programme at the Cacao prospect at La India Project, Nicaragua. Cacao is located 4 km from the planned processing plant at our fully permitted La India mine. It is a potential satellite deposit to the already permitted La India, America and Mestiza open pits.
The drill programme has three main objectives: 1) to increase the Inferred Mineral Resource on the Cacao Vein. 2) to increase the strike length of the vein towards the Santa Barbara prospect, 3 km away. 3) to prove the structural geological model that Cacao represents a dilational opening between two major basement feeder zones (the La India and Andrea Corridors).
Mark Child, Chairman and CEO commented:
“Condor has successfully permitted a new processing plant of up to 2,800 tpd, along with the associated mine site infrastructure, and is currently completing detailed engineering studies to make the project ‘shovel ready’. Initial production is expected to be 120,000 oz gold p.a. from three permitted open pits. In parallel, Condor is now embarking on the exciting second part of its strategy: demonstrating the potential for a 5 Moz Gold District with the initial focus on a 5,000 m drilling programme at Cacao.
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