Condor Gold commences geotechnical drilling programme at La India Project

Condor Gold, the AIM-listed exploration company, has commenced a geotechnical drilling programme of 10 drill holes at the La India open pit resource in Nicaragua.

Condor Gold, the AIM-listed exploration company, has commenced a geotechnical drilling programme of 10 drill holes at the La India open pit resource in Nicaragua.

The company reported that the geotechnical drilling programme had been designed to provide geotechnical data required to build an open pit on the La India Vein Set at the level of confidence required for a pre-feasibility study.

The current open pit resource is 954 thousand ounces of gold at 3.6 grammes per tonne, the company said.

Mark Child, Chairman and Chief Executive Officer, commented: "The current 1,700m of geotechnical drilling is designed to test the competency and strength of the host rock and determine the optimal pit angles for the La India open pit resource."

He added: "The Preliminary Economic Assessment (PEA) identifies an open pit containing 800 koz gold at a 40-42 degree pit angle resulting in a cash cost of $682 per ounce."

Condor Gold's share price was up 1.45% to 105p at 10:13 on Thursday.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Free 6 issue trial then continue to