Founders Metals stock surges to new high on Antino drill results
The new results are highlighted by another high-grade interval of 6 metres at 5.31 g/t gold.
Shares of London-based Condor Gold (LON:CNR) went up almost 11% Wednesday, closing at 125 pounds, as it revealed final results from its latest drilling programme at its 100% owned La India gold project in Nicaragua, Central America.
Sources quoted by Proactive Investors say gold reserves at La India may soon rise above 2 million ounces.
The company completed 59 drill holes for 7,096 metres between mid-April and the end of July on the India-California vein trend with the aim of increasing the overall mineral resource at indicated category by targeting areas considered to have open-pit and underground mining potential.
Since its last announcement on August 1, the company examined results for the final 11 drill holes, representing 1,890 metres of drilling have now been received.
Condor Gold is working with independent geological consultant SRK Consulting to model the mineralised structures in three dimensions. This work is in preparation for an updated gold and maiden silver mineral resource estimation to 43-101 standards for La India Vein Set . Condor Gold is also working on an update of the gold mineral resource on the America Vein Set, which should be finalized next month.
