Mobilises Second Drill Rig To La India
Condor Gold (AIM:CNR) (TSX:COG) has mobilised a second drill rig and commenced and drilling on a 4,000m close-spaced infill diamond drilling programme within the permitted open pit at La India Project, Nicaragua.
The 4,000m infill drilling programme’s objectives are three-fold; firstly, to tighten the drill hole spacing within the planned high-grade starter pits on the principal La India Vein. The results of this drilling will provide the sample density required to finalize pit designs and mine schedules ahead of production.
Secondly, the diamond drilling programme is designed to replace approximately 90% of the historical reverse circulation (RC) drill holes within the overall La India open-pit Mineral Resource, the results of which will improve the geological model and sample quality.
Thirdly, the diamond drilling is targeting near-by Inferred Mineral Resources to potentially upgrade the target to an Indicated Mineral Resource, and its then potential inclusion in the mine plan, furthermore the infill drilling may upgrade the Indicated Mineral Resource to the Measured Mineral Resource category.
Aim to convert a small near-by tonnage in the Inferred Mineral Resource category to the higher confidence Indicated Mineral Resource category, and its potential inclusion in the mine plan.
Chairman and CEO, Mark Child, said Condor is aiming to convert some of the Indicated Mineral Resource to the higher confidence Measured Mineral Resource category.
It will also replace historical reverse circulation (RC) drilling within the main La India open pit with diamond core drilling to enhance sample quality and the database ahead of extraction and assist with mine scheduling.
“In early December 2020, Condor initiated a 4,000m infill drilling programme within the La India starter pits, which are within the main, permitted La India open pit,” Mr Child said.
“Six drill holes have been completed to date, assay results are pending. The arrival of a second drill rig will accelerate the infill drilling programme.
“As Condor progresses towards production it has been decided to initiate mine production with high grade starter pits within the permitted main La India open pit and the permitted high grade Mestiza open pit.
“La India open pit hosts a Probable Mineral Reserve of 6.9 million tonnes (Mt) at 3.01 g/t gold for 675,000 oz gold with all-in-sustaining-cash costs of US$690 per oz gold. The La India starter pits are designed pits; the estimated mill feed is 445Kt at 4.17g/t gold for 59,700 oz gold using a 2.0g/t cut-off. The starter pits have a maximum depth of 35m and have a relatively low strip ratio.
“The drill programme within the La India starter pits will close-up the sample density to 25 metre by 25 metre spacing and is the final drilling ahead of extraction. Mining the higher grade will bring forward cashflow, shorten the payback period and enhance project economics.”