Condor Gold updates on drilling at former Soviet site in Nicaragua

Central American gold explorer, Condor Gold said new results from drilling at its La India Project in Nicaragua showed a high-grade ore shoot in the Tatiana vein that contained an approximate 13.7grams of gold per tonne (g/t).

La India Project consists of seven separate resources, one of which, Mestiza, is a former Soviet Union drilling site with an estimated mineral resource of 785,694 ounces of gold.

The majority of resources are contained within the Tatiana vein, the largest of the four main veins at Mestiza, which also includes the Buenos Aires and Jicaro veins to the north of the purchase and the Espinito vein set to the west.

Five of the firm's eight drilling projects found grams of gold per tonne in double digits and all but one contained more than 13 g/t of silver.

While noting that Tatiana was the "highlight" of the update, Mark Child, chairman and chief executive of Condor also said new mapping at the Soviet site had identified a larger vein system than previously thought.

"The Mestiza vein set is about 3.5 km long and about 1 km wide. Surface samples of 41.5 g/t and 47.7 g/t gold are 2 km north of the recent drilling. Mapping will continue and is aimed at identifying further high-grade shoots by targeting dilational bends in the veins."

Condor Gold shares were up 2.67% to 52.36p as of 1040 BST.