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Condor Gold upbeat on latest data from La India drilling
9th Mar 2021 15:06
(Sharecast News) - Condor Gold announced on Tuesday that the first 26 drill holes for a combined 1,296 metres of diamond drill core had been completed on La India starter pit infill drilling programme.
The AIM-traded firm said the primary objective of the programme was to provide 25 metres spaced drill sampling within the two shallow, high-grade starter pits within the main La India open pit mineral reserve.
Drilling on the Northern starter pit was complete, with 25 drill holes for 1,273 metres, four of which had twinned existing reverse circulation drill holes.
Condor said drilling had now started on the Southern starter pit, with two rigs drilling, and the first three holes already completed.
Initial drill results had also been received for the first two drill holes located at the northern end of the Northern starter pit, with hole LIDC404 drilled 9.6 metres true width at 3.98 grams of gold per tonne from surface.
The discovery of an additional vein of 2.9 metres true width at 2.27 grams of gold per tonne from a drill depth of 24.15 metres in the footwall in the same drill hole was reported.
That led to Condor describing LIDC404 as an "exciting development", which would be rapidly evaluated as potentially mineralised material available for inclusion in the mine schedule.
LIDC404, meanwhile, had an amalgamated drill intercept from 1.2 to 27.15 metres drill depth, of 24.15 metres, or 23.6 metres true width, at 2.05 grams of gold per tonne, which included a 1.8 metre mine cavity.
"I am delighted with the initial drill assay result of 9.6 metres true width at 3.98 grams of gold per tonne from surface in drill hole LIDC404 as it confirms the geological model of a wide zone of high grade ore in La India starter pit, which is within the fully permitted main La India open pit mineral reserve," said chairman and chief executive officer Mark Child.
"The discovery of an additional vein of 2.9 metres true width at 2.27 grams of gold per tonne from 24.15 metres drill depth in the same drill hole is an added bonus and is likely to add mineralised material to the mine plan."
Child said mining the area was likely to focus on putting high-grade material through the future processing plant, and stockpiling or blending the lower-grade material with higher-grade material from elsewhere.
"Only two drill assay results have been received from 25 drill holes on the Northern starter pit for a combined 1,273 metres of infill and reverse circulation replacement drilling completed so far in La India starter pits.
"Approximately 2,200 metres oif drilling remains to be completed of the current drill programme."
At 1447 GMT, shares in Condor Gold were flat at 45p.
The AIM-traded firm said the primary objective of the programme was to provide 25 metres spaced drill sampling within the two shallow, high-grade starter pits within the main La India open pit mineral reserve.
Drilling on the Northern starter pit was complete, with 25 drill holes for 1,273 metres, four of which had twinned existing reverse circulation drill holes.
Condor said drilling had now started on the Southern starter pit, with two rigs drilling, and the first three holes already completed.
Initial drill results had also been received for the first two drill holes located at the northern end of the Northern starter pit, with hole LIDC404 drilled 9.6 metres true width at 3.98 grams of gold per tonne from surface.
The discovery of an additional vein of 2.9 metres true width at 2.27 grams of gold per tonne from a drill depth of 24.15 metres in the footwall in the same drill hole was reported.
That led to Condor describing LIDC404 as an "exciting development", which would be rapidly evaluated as potentially mineralised material available for inclusion in the mine schedule.
LIDC404, meanwhile, had an amalgamated drill intercept from 1.2 to 27.15 metres drill depth, of 24.15 metres, or 23.6 metres true width, at 2.05 grams of gold per tonne, which included a 1.8 metre mine cavity.
"I am delighted with the initial drill assay result of 9.6 metres true width at 3.98 grams of gold per tonne from surface in drill hole LIDC404 as it confirms the geological model of a wide zone of high grade ore in La India starter pit, which is within the fully permitted main La India open pit mineral reserve," said chairman and chief executive officer Mark Child.
"The discovery of an additional vein of 2.9 metres true width at 2.27 grams of gold per tonne from 24.15 metres drill depth in the same drill hole is an added bonus and is likely to add mineralised material to the mine plan."
Child said mining the area was likely to focus on putting high-grade material through the future processing plant, and stockpiling or blending the lower-grade material with higher-grade material from elsewhere.
"Only two drill assay results have been received from 25 drill holes on the Northern starter pit for a combined 1,273 metres of infill and reverse circulation replacement drilling completed so far in La India starter pits.
"Approximately 2,200 metres oif drilling remains to be completed of the current drill programme."
At 1447 GMT, shares in Condor Gold were flat at 45p.