Condor Gold Provides La India MRE Update




















published by

Global Mining Review,






Condor Gold has announcement the results of an updated mineral resource estimate (MRE) of its 100% owned La India project in Nicaragua. The updated MRE is 9,672,000 t at 3.5 g/t gold (Au) for 1,087,000 oz Au in the Indicated Mineral Resource category and 8,642,000 t at 4.3 g/t Au for 1,189,000 oz Au in the Inferred Mineral Resource category. resource category.

The MRE was prepared by SRK Consulting (US) Inc. and uses the terminology, definitions and guidelines given in the Mineral Resource and Mineral Reserve Standards of the Canadian Institute of Mining, Metallurgy and Petroleum (ICM) (May 2014) and The CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (MRMR Best Practice Guidelines, November 2019).

Strong points

  • MRE updated to 9,672,000 t at 3.5 g/t Au for 1,088,000 oz Au in the Indicated Mineral Resource category and 8,642,000 t at 4.3 g/t Au for 1,190,000 oz Au in the inferred mineral resources.
  • The open pit MRE is 8,693,000 t at 3.2 g/t Au for 893,000 oz Au in the Indicated Mineral Resource category and 3,026,000 t at 3 g/t Au for 291,000 oz Au in the category of inferred mineral resources.
  • Total underground EMR is 979,000 t at 6.2 g/t Au for 194,000 oz Au in the Indicated Mineral Resource category and 5,615,000 t at 5 g/t Au for 898,000 oz Au in the inferred mineral resources.
  • A feasibility study is underway on the La India Open Pit, which has an EMR of 8,487,000 t at 3 g/t Au for 827,000 oz Au in the Indicated Mineral Resource category and 893,000 t at 2.4 g/t Au for 69,000 oz Au in the inferred mineral resource category. There is a small silver content of 1,803,000 oz.
  • Cacao Mineral Resources increased by 69% to 1,164,000 t at 2.5 g/t Au per 101,000 oz Au in the Inferred Mineral Resource category. The deposit remains “open” laterally and at depth.
  • Updated geological interpretations and integrated litho-structural, alteration and mineralization models are incorporated into the ERM and reflect the greater degree of detail that is warranted for a pit mine feasibility study level opened La India. This is supported by closer diamond drilling in the upper part of the main La India pit, as well as additional detailed surface mapping across the deposit.

Mark Child, President and CEO, said, “Condor has produced a much more robust and conservative MRE for the entire La India project, which comprises six separate deposits, all of which have the potential for expansion. Emphasis was placed on building confidence in the geological model ahead of an upcoming feasibility study at the La India open pit mine. La India Open Pit Update Includes Infill Drilling Assay Results, New Lithologic, Structural and Alteration Model, New Depletion Model for Historic and Artisanal Mining and Increased cut-off grade of 0.65 g/t Au from 0.5 g/t Au. The updated Mineral Resource includes the latest mining costs and bulk density measurements. I am pleased that the drilling on the Cacao deposit increased the MRE in the Inferred Mineral Resource category by 69% to 101,000 oz Au at 2.5 g/t Au, the interpretation is that the drilling cut the high of a fully preserved epithermal vein system with a strike length of at least 1 km.

“The updated MRE is 9,672,000 t at 3.5 g/t Au for 1,088,000 oz Au in the Indicated Mineral Resource category and 8,642,000 t at 4.3 g/t Au for 1,190 000 oz Au in the Inferred Mineral Resource category. . A feasibility study is underway on the La India open pit mine which has an EMR of 8,487,000 t at 3 g/t Au for 827,000 oz Au in the category of indicated mineral resources and 893,000 t at 2.4 g/t Au for 69,000 oz Au in the Inferred Mineral Resource category. There is an additional 289,000 oz of Au classified as open pit material outside the main La India open pit, some in licensed pits, which will be targeted for additional initial plant feed . The plan is to add the significant underground mineral resource, currently over 1 million ounces Au, to the mine plan once in production.

Read the article online at: https://www.globalminingreview.com/exploration-development/23082022/condor-gold-provides-la-india-mre-update/







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