Cacao drilling returns positive results for Condor Gold

Condor Gold announced on Friday that, further to the announcement of 15 December, the scout drilling for four drill holes totalling 719.6 m on the Cacao Prospect at the La India Project had returned results.

The AIM-traded company said the drilling was 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 that, 57% or 1.3 Moz gold is hosted by the La India Vein Set and the remaining 1 Moz is hosted in six 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 hoped to demonstrate that La India is a true gold district, the board said, with excellent potential to substantially increase the global resource.

It reported that the drill core demonstrates a significant dilational vein at Cacao, with the prospect of a much larger gold resource as Cacao forms a major ‘link’ between two major basement feeder zones at La India and Andrea Corridors.

Drill intercepts demonstrated broad zones of gold mineralisation, with 7.85 m at 3.75 g/t gold, 7.85 m at 2.95 g/t gold and 17.1 m at 1.74 g/t gold.

Cacao is at the top of an epithermal system, the results showed, preserved because the regional Highway Fault drops down the entire system towards the southeast, with the vein open along strike and at depth.

The Cacao vein was now upgraded and prioritised for further drilling, to increase its current resource .

Condor said 1,812m of 4,000m scout drilling has been completed on three targets - Cacao, Real de La Cruz and Tatescame - and the drill rig will now be moved to the 4km-long Andrea Vein with further assay results announced in due course.

“Condor's strategy of proving that the La India Project is part of a major gold district continues to yield positive results,” said CEO Mark Child.

“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.”

Child said the vein was 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 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.”