28th Nov 2018 12:04
LONDON (Alliance News) - Condor Gold PLC said Wednesday it has extended known targets and discovered new vein systems at its La India project in Nicaragua.
Shares in Condor were up 13% on Wednesday at 30.40 pence.
In an update on its regional exploration at La India, the miner said it is working to prove a 5 million ounce gold district, and has extended it known targets as well as discovering new vein systems with high grade grab samples.
Summarising the firm's regional activity in the last year, Condor Executive Chairman Mark Child said the relog of 207 drill holes on the La India and America veins within the project has "generated entirely new open pit and underground drill targets with excellent potential".
Child also said that mapping and sampling at the Andrea East, Cacao, and La Cuchilla concessions had resulted in new drill targets.
Cacao is one of Condor's top priority drill targets with intercepts including 7.9 metres at 3.8 grams of gold per ton of ore.
The Andrea East target is currently ready to be drilled and is likewise a high priority with grab samples giving up to 9.7 grams of gold per ton of ore.
"There are so many veins in the district that the company is effectively 'drowning' in targets and a major issue is how to prioritise exploration," said Child.
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