High grade drilling result for Condor

18th Oct 2011 13:10

Gold miner Condor Resources has reported a high grade drilling result at its La India Project in Nicaragua. The firm sourced its best drill intercept of 2.67g per tonne gold at 23.09m in the hanging wall zone of the project's main vein. A high grade intercept of 4.76g per tonne gold at 4.86m was also sourced, which the company believes demonstrates the potential to re-work the historic mine. Mark Child, chairman of Condor Resources, said: "The latest drill results on La India Vein confirm three important theories put forward by Condor's geologists. Two drill holes placed beneath the historic mine workings confirm that mineralisation extends and is open to depth with good grades. "The same is true of the two drill holes placed within the historic mine, which also add credibility to the view that the historic mine can be re-worked as significant gold mineralisation remains. "Thirdly, the California Vein, which runs parallel to and is in the hanging wall zone of La India Vein, is 1,000m in length. We anticipate a maiden resource for all or part of the California Vein by year end."Four significant gold intercepts have been returned from the main La India Vein. Of these, two intercepts are within the historically mined area and confirm that exploitation was incomplete when mining activity stopped in 1956, and significant amounts of gold mineralisation remain between the mined levels. NR