LONDON (ShareCast) - Condor Gold announced Monday it commenced drilling at the Central Breccia area at the La India project in Nicaragua.

The 2,000 metre drilling programme will target a maiden open pit resource on the Central Breccia and test two nearby geochemical anomalies, identified in a soil sampling programme, that are potentially hidden breccia pipes hosting gold mineralisation.

The La India project has potential production of 152,000 ounces (oz) gold per annum at 3.8g grams per tonne for the first eight years of a 13 year mine life at a cash cost of $575 per oz gold.

Condor has five diamond core drilling rigs operating at the project, including one at the Central Breccia area.

Central Breccia was discovered in 2011 when following-up on historic regional soil sampling data collected in the 1980s.

Trench testing around the initial discovery outcrop delineated a 300m by 150m low grade alteration zone with multiple zones of wide high-grade gold mineralisation including trench intercepts.

RD

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