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Condor Gold completes La India drilling programme

Mon, 09th Sep 2013 18:32

Central America-focused miner Condor Gold has announced the completion of the drilling programme at its wholly-owned La India Project in Nicaragua and said that results show continuity of gold mineralisation and grade.The AIM-listed firm, with a market capitalisation of around £45m, said that the 23,598m drilling programme hosts a mineral resource estimate of 2.4m ounces of gold at 4.6g per tonne over a total of 162 drill holes."The focus of the recent drilling has been to prove over 1m oz gold in the Indicated category in high grade open pit resources, while maintaining circa 200,000 oz gold in the Indicated category in underground resources in preparation for a Pre-Feasibility Study," explained Chairman and Chief Executive Mark Child.A resource update for La India Project is scheduled to be completed by SRK Consulting by the end of October.The stock was up 3.85% at 135p by 14:05 on Monday afternoon. AB