Condor discovers new gold

Condor Resources told investors this morning that it had struck gold at its La India project in Nicaragua. Shares rose 5% after it said samples from the new area called the Central Breccia returned average grades of 2.74 grams per tonne including two metres at 6.77 grams per tonne.The firm said Central Breccia was discovered by Condor's geologists during prospecting and rock chip sampling in the area where a number of the main epithermal veins appeared to converge.Condor believes the the location could be significant as it is at structural centre of La India epithermal gold system on an axis where the veins in south of the District dip to the north and the veins in the north of the District dip to the south, particularly if follow up drilling reveals a convergence of veins. Chief executive, Mark Child, said the discovery of a much wider zone of gold mineralisation at surface was unusual. "However, Condor remains cautious until it is established whether it is the top of a large structure or a small isolated body," he said.