LONDON (Alliance News) - Condor Gold PLC said Friday that it has been granted the Las Cruces concession, a 25 year exploration and exploitation permit covering an area of 142.6 square kilometres, by the Ministry of Energy & Mines of Nicaragua.
The permit was awarded to the exploration company's Nicaraguan subsidiary Condor SA. It is adjacent to, and south-east of, the company's La India Project and expands the project package by 45% to 455.6 square kilometres.
"We remain convinced that the La India Project is a major Gold District with the potential to host over 5 million ounces of gold," Condor Chairman & Chief Executive Mark Child said.
The La India Project now comprises 11 adjacent and contiguous exploration and exploitation concessions, acquired by the company over 12 years.
Shares in Condor were trading 8.9% higher at 30.50 pence each.
Condor Gold (CNR)