Condor Gold intersects gold mineralisation at La India

Condor Gold's shares rose Monday as the miner announced it encountered further gold mineralisation after drilling at the La India Project in Nicaragua.

Condor Gold's shares rose Monday as the miner announced it encountered further gold mineralisation after drilling at the La India Project in Nicaragua.

The company completed 50 drill holes at 7,089.4 metres at the La India Vein Set, aimed at proving 800,000 ounces (oz) of gold in the indicated category.

Drilling results showed a continuity of gold mineralisation and grade of the current geological model.

A near surface bonanza-grade drill intercept from La India revealed 4.80 metres at 37.24 grams per tonne (g/t) of gold from a 14.40 metre drill depth.

A further 39 holes were drilled to 3,567 metres on the America Vein Set to test for remnant wallrock gold and prove a second open pit resource.

The best intercept showed 19 meters at 1.98 g/t and 10 metres at 1.70 g/t separated by only 6.0 metres of low-grade material from a 13 metre drill depth at the intersection of the America America-Escondido-Constancia veins.

"The drill results from this in-fill drilling programme demonstrate continuity of gold mineralisation and grade," said Chairman and Chief Executive Mark Child.

"Three drill holes, each from a depth of less than 20m from surface provide great confidence that La India open pit resource will continue to demonstrate robust economics."

RD

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021