LONDON (ShareCast) - Condor Gold’s shares rose Monday as the miner announced it encountered further gold mineralisation after drilling at the La India Project in Nicaragua.

The company completed 50 drill holes at 7,089.4 metres at the La India Vein Set, aimed at proving 800,000 ounces (oz) of gold in the indicated category.

Drilling results showed a continuity of gold mineralisation and grade of the current geological model.

A near surface bonanza-grade drill intercept from La India revealed 4.80 metres at 37.24 grams per tonne (g/t) of gold from a 14.40 metre drill depth.

A further 39 holes were drilled to 3,567 metres on the America Vein Set to test for remnant wallrock gold and prove a second open pit resource.

The best intercept showed 19 meters at 1.98 g/t and 10 metres at 1.70 g/t separated by only 6.0 metres of low-grade material from a 13 metre drill depth at the intersection of the America America-Escondido-Constancia veins.

“The drill results from this in-fill drilling programme demonstrate continuity of gold mineralisation and grade,” said Chairman and Chief Executive Mark Child.

“Three drill holes, each from a depth of less than 20m from surface provide great confidence that La India open pit resource will continue to demonstrate robust economics.”

RD

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