Canadian miner Condor Gold has announced that all assay results have been obtained for an 8,004-metre infill drilling programme on the company’s La Mestiza Open Pit Mineral Resource at La India project in Nicaragua, and the miner is currently readying to secure the necessary financing to explore the asset.
"Project finance discussions are underway with potential providers of pro-ject finance who have access to Condor's data room under confidentiality agreements," Condor Gold said in a statement.
"During the first quarter, we continued to make significant progress on advancing the Feasibility Study for the La India open pit and associated mine site infrastructure. All technical studies undertaken at the Project level are complete. We are currently reviewing the metallurgical test work, geotechnical analysis and capital cost estimates," said Mark Child, the company’s chairman and CEO.
Condor Gold says La India has a combined "Inferred and Indicated Mine-ral Resource of 18.1 Mt at 4.0 g/t for 2,32M oz gold and a Probable open pit Mineral Reserve of 6.9 Mt at 3.0 g/t for 675,000 oz gold."