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Condor Gold (TSX: COG) announced on Wednesday that it has commenced initial site preparation at Mina La India, in Nicaragua.
According to the company, this includes the main plant access road from a regional paved highway to the processing plant, in-plant roads and a bypass road. The total area being cleared is 11.26 hectares and is estimated to be completed in 3 to 4 months.
“Two viewing platforms over the plant area have already been constructed. 25 geotechnical test pits have been completed to aid with the design of the plant layout,” Condor Gold CEO Mark Child said in a media release.
The la India open pit hosts probable mineral reserves of 6.9 million tonnes at 3.01 g/t gold for 675,000 oz gold with all-in-sustaining-cash costs of $690/oz
According to a mineral resource estimate completed in January 2019, the La India project comprises 9.85 million tonnes at 3.6 g/t gold for 1.14 million oz gold in the indicated category, as well as 8.48 million tonnes at 4.3 g/t gold for 1.17 million oz gold in the inferred category.
The La India vein set hosts an open pit mineral resource of about 8.37 million tonnes at 3.1 g/t gold for 837,000 oz gold in the indicated category and 887,000 tonnes at 2.4 g/t gold for 69,000 oz gold in the inferred category.
Beneath the La India open pit is an underground mineral resource estimate of 678,000 tonnes at 4.9 g/t gold for 107,000 oz gold in the indicated category and 1.71 million tonnes at 5.6 g/t gold for 309,000 oz gold in the inferred category.
The la India open pit hosts probable mineral reserves of 6.9 million tonnes at 3.01 g/t gold for 675,000 oz gold with all-in-sustaining-cash costs of $690/oz.
Midday Wednesday, Condor’s stock was up 7% on the TSE. The company has a C$100 million market capitalization.
