Condor Gold finds gold mineralisation on Nicaragua site

19th Aug 2014 16:24

Condor Gold described its geologists' findings of gold mineralisation on the Real de La Cruz Prospect in the La India project in Nicaragua as "highly encouraging".The British-based company said the Real de La Cruz area had the potential to become a low-grade feeder as the deposited is situated only 8km from the planned site of the La India mine."It is highly encouraging that Condor's geologists have defined a large area of gold mineralisation through limited trenching on the Real de La Cruz Concession on La India Project," said group chief executive Mark Child."These trench results endorse Condor's strategy of continuing to explore the considerable upside potential of La India Gold District while fast tracking the main La India open pit resource."Condor's geologists interpret the geological signatures as representing the top of a much larger gold mineralised system that, with further trenching and drilling, has the potential to develop into a supplementary lower-grade feeder pit to the La India process plant located 8km to the southwest."The company dug 13 trenches, totalling over 2.5km in length and the initial evaluations revealed a broad, stockwork gold mineralisation along a 1.1km strike length.The company confirmed gold mineralisation is open in all directions and at depth said from their assays Real de La Cruz has "high level geological characteristics that point to the potential for higher-grade mineralisation at depth".Condor shares were down 0.97% to 102.5p at 15:41 on Tuesday.DC