LONDON (ShareCast) - AIM-listed gold and silver mining exploration company Condor Gold has unveiled positive test results from its project in Nicaragua.

The company, which is focused on delineating a commercial reserve on its 100%-owned La India Project in Nicaragua, which hosts a CIM compliant Mineral Resource of 2.4m ounces (oz) gold at 4.6 grammes per tonne, reported that metallurgical testwork commenced in early April 2013 on approximately 500kg of sample material from La India Project.

It said that the testwork was being undertaken by the inspectorate's metallurgical division in Vancouver and included samples from all areas that were included in its recently announced preliminary economic assessment (PEA) or were expected to feature in the planned pre-feasibility study (PFS).

The group reported that the initial results demonstrated that the ore at La India Open Pit was "amenable to processing using standard industry technologies with recoveries of 93-96%".

The main portion of the metallurgical programme is to be conducted on three master composites and six variability composites prepared from one quarter core of selected drill hole intervals from the La India Vein Set, representing La India South, La India Central and La India North zones.

In addition, the company said that metallurgical testwork to PEA level was underway on test composites from the America Vein Set, the Mestiza Vein Set, and the Central Breccia.

The metallurgical testwork is expected to be completed by the fourth quarter of 2013, the group said.

MF

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