8th Nov 2013 10:25
LONDON (Alliance News) - Condor Gold PLC Friday saw its shares fall after saying its wholly-owned La India Project now holds a total mineral resource of 18.4 million tonnes at 3.9 grams per tonne, or 2.3 million ounces of gold.
The gold exploration company, with operations in Nicaragua said the the total is made up of an indicated mineral resource of 9.6 million tonnes at 3.5 grams per tonne of gold and an inferred mineral resource of 8.8 million tonnes at 4.4 grams per tonne of gold.
Condor Gold also said the silver resource at the site now comes to 2.7 million ounces at 6.2 grams per tonne of silver.
The company added that its total open pit mineral resources come to 1.1 million ounces at 3.1 grams per tonne of gold comprising 921,00 ounces at 3.0 grams per tonne of gold for its La India project, 160,000 ounces at 4.2 grams per tonne of gold at its America Open Pit and 57,000 ounces at 1.9 grams per tonne at the company's Central Breccia Open Pit.
Condor Gold shares were down 11.9% to 107.50 pence, putting it in the top ten AIM losers during early trading Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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