LONDON (ShareCast) - Condor Gold, the AIM-listed exploration company, has commenced a geotechnical drilling programme of 10 drill holes at the La India open pit resource in Nicaragua.

The company reported that the geotechnical drilling programme had been designed to provide geotechnical data required to build an open pit on the La India Vein Set at the level of confidence required for a pre-feasibility study.

The current open pit resource is 954 thousand ounces of gold at 3.6 grammes per tonne, the company said.

Mark Child, Chairman and Chief Executive Officer, commented: "The current 1,700m of geotechnical drilling is designed to test the competency and strength of the host rock and determine the optimal pit angles for the La India open pit resource."

He added: "The Preliminary Economic Assessment (PEA) identifies an open pit containing 800 koz gold at a 40-42 degree pit angle resulting in a cash cost of $682 per ounce."

Condor Gold’s share price was up 1.45% to 105p at 10:13 on Thursday.

MF

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