Condor Gold PLC [COG-TSX; CNDGF-OTC; CNR-LSE AIM] reports that drilling has been completed and assay results released from exploration drilling at its Cacao prospect, part of the 100%-owned La India gold mining district holdings in Nicaragua.
Fifteen drill holes for 3,500 metres were completed to test the geological concept that the near-surface gold mineralization at Cacao is the top of a fully preserved epithermal gold system. Secondly, to test that the gold mineralizing system extends, buried below surface, beyond the 450-metre long outcrop where all the drilling had been concentrated to date.
Both objectives have been achieved with a wide zone of high-grade gold mineralization intercepted below the current mineral resource, and a wide low-grade gold anomaly identified along strike of the outcropping mineralization that may be the top of a completely hidden, deep-seated extension of the Cacao epithermal gold system. Follow-up drilling is being planned to test both targets at greater depths.
Cacao epithermal gold system is interpreted as being fully preserved, open along strike and to depth. The latest drilling is clipping the top of the system; 10-metre-plus-true-width mineralized zone including the Cacao vein has been confirmed for a strike length of approximately 1,000 metres beneath and along strike of the existing Cacao mineral resource.
Drill hole CCDC033 returned 25.93 metres (14.9 m true width) at 3.94 g/t gold from 263.82 metres, including 4.58 metres (2.6 m true width) at 7.76 g/t gold from 282.12 metres drill depth below the Cacao mineral resource and open to depth and along strike in both directions;
Drill hole CCDC028 returned 39.65 metres (32.9 m true width) at 0.38 g/t gold from 181.47 metres, including 3.05 metres (2.5 m true width) at 2.34 g/t gold from 218.07 metres drill depth beneath alluvial cover about 400 metres along strike of the Cacao mineral resource, interpreted as the top of an epithermal system.
Mark Child, chairman and chief executive officer, commented, “Part of Condor’s strategy is to demonstrate a five-million-ounce gold district. The recently completed 3,500-metre exploration drill program has been a success. A 10-metre-plus-true-width mineralized zone including the main Cacao vein has been confirmed for a strike length of approximately 1,000 metres beneath and extending to the east of the current Cacao mineral resource of 662,000 t at 2.8 g/t gold for 60,000 oz gold.
“Drill hole CCDC033 intercepted 14.9 metres true width at 3.94 g/t gold beneath the existing mineral resource, and 700 metres along strike of this intercept, drill hole CCDC028 intercepted 32.9 metres true width at 0.38 g/t gold. Cacao is interpreted as a fully preserved epithermal gold system due to the sinter on the surface and its preservation in a downthrown block. The current round of drilling has been interpreted to be clipping the top of the gold mineralizing system, with the gold grade increasing at depth. It is highly significant that a wide, greater that 10-metre true width, mineralized zone for a strike length of 1,000 metres, open along strike and down dip, has been identified with grades increasing at depth.”