LONDON (Alliance News) - Condor Gold PLC Monday said it has commenced its 4,000 metres drilling programme on its flagship La India Project in Nicaragua.
The Nicaraguan-focused gold exploration company said it has also commenced a soil sampling programme on the La India project, aimed at identifying high level epithermal prospects potentially concealing deeper high grade gold mineralisation.
Condor Gold said the 4000 metres drilling programme is aimed at demonstrating the immediate upside of the project. It said the aim of the initial 2000 metres of drilling is to test to test the depth extension of the high grade gold mineralisation beneath La India open pit reserve and test the strike extent to the south of the main La India open pit. It said the remaining 2,000 metres of the drilling programme will depend on the initial drilling results, and test existing targets on La India Project.
The company said it is fulled funded for the drilling programme, which it said will cost less than USD1 million, having raised USD10 million at the end of last year.
Condor Gold shares were trading 1.7% lower at 66.01 pence Monday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Condor Gold (CNR)