Condor Gold updates market on Nicaragua activities

Condor Gold updated the market on Friday, on its regional exploration activity at the La India project in Nicaragua.

Among the work undertaken by the AIM-traded company in the first half of 2016 was follow-up field work on 33 exploration targets identified in a structural geology study and 13 exploration targets identified by the ongoing soil survey as at the end of 2015.

Initial success from that has highlighted a 12.5km mineralised corridor 9km north of the main La India open pit resource, with high-grade rock chip of 53.9 g/t gold.

The soil survey was also expanded to cover the remaining 242 square kilometres of La India to delineate further prospects and demonstrate the district scale gold potential.

Finally, Condor’s board highlighted the addition of Dr Warren Pratt as a senior geological consultant, focusing on the exploration upside.

The board said he is producing a detailed geological, stratigraphic and structural map of La India.

“Following on from the successful structural geology study last year, which identified 33 new exploration targets, and a 71 square km soil survey that identified an additional 13 new exploration targets, Condor recently initiated a further 242 square km soil survey programme at La India Project aimed at identifying additional prospects and demonstrating the district-scale gold potential of La India Project,” said CEO Mark Child.

“Recent work by Condor geologists has identified a 12.5 km long mineralised corridor 9 km to the north of La India open pit.

“A high grade rock chip of 53.9 g/t gold at the northern end of the Andrea-Limones mineralised corridor, some 6 km away from the nearest gold mineral resource, is highly encouraging,” Child added.

He said follow up trenching is being planned in the area.

“I am delighted that Dr Warren Pratt has joined Condor as a senior geological consultant.

“He will advise the board on the exploration upside of La India Project,” Child explained.

He said Dr Pratt contributed to the due diligence ahead of the recent investment in the company by Ross Beaty, and strengthens the geological team.