Condor Gold, an exploration firm drilling a site in Nicaragua, has surged after revealing impressive results from a major drilling programme.
The company completed fifty-nine drill holes at its 100% owned La India Project between mid-April and the end of July on the "India-California vein trend". The aim was to increase the overall resource by targeting areas considered to have open pit and underground mining potential.
Commenting on the results, Condor's Chief Executive, Mark Child, said: "The high grade gold mineralisation (and) the gold grade increasing 3 to 4 fold (in some areas) bodes well for the resource update expected to be completed in mid September 2012 and enhances my belief that La India Project is on track to host a large, highly economic gold mine."
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This was enough to push the stock up 9.7% in early trading.
BS
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
