Condor Gold drill programme returns positive results

Central American focussed explorer Condor Gold said on Monday that the final six drill holes of a 43-hole programme on the Mestiza Vein Set at its La India Project in Nicaragua had returned positive results.

Condor discovered a high-grade ore shoot on the Tatiana vein, nicknamed Big Bend, with a strike length of 450 metres at a depth of 200 metres and a mineralised true width of 4.6m.

The best results came from drill LIDC378, which delivered 17.4 grammes per tonne of gold and 3.0 g/t of silver from 77.3 metres downhole depth, and drill LIDC383 and its 18.50 g/t of gold and 22.1 g/t of silver from 19.60 metres.

Mark Child, chairman and chief executive said, "The final six drill holes of a 43 drill hole programme, totalling about 6,000 metres, at Mestiza demonstrate high-grade gold mineralisation from surface to a depth of up to 200m beneath surface."

"The discovery of a high-grade oreshoot ('Big Bend') on the Tatiana vein, which has a strike length of 450 metres, an estimated average true width of 2.2 metres and a depth of at least 200 metres, is material to the project.

"Additionally, there is potential for a small open pit on the Tatiana vein that can add high-grade gold to the mine plan, reduce the payback period and enhance the project economics," he added.

As of 1235 GMT, Condor was back where it started at 41p.