Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
The Ministry of Energy and Mines of Nicaragua granted Condor Gold’s (TSX
Cerro Los Cerritos sits to the northwest of the company’s La India project and adjacent to its La Cuchilla concession. According to Condor, the new addition expands the La India land package to a total of 587.7 square kilometres.
In a press release, the British company said that its geologists identified the Cerro Los Cerritos concession as a greenfield exploration target based on the prospective geological setting and continuation of soil geochemistry and geophysics anomalies along strike from Los Rodeos and la Cuchilla concessions to the southwest.
“Condor’s geologists have identified two major north-northwest-striking mineralised basement feeder zones traversing the project, the ‘La India Corridor,’ which hosts 90% of Condor’s 2.4 Moz gold mineral resource and the ‘Andrea Los Limones Corridor.’ Both mineralised basement feeder zones can be projected north-northwest into Cerro Los Cerritos. Numerous geophysics, soil geochemistry and surface rock chips indicate the possibility for further mineralisation along strike,” CEO Mark Child said in the media release.
Child indicated that Condor will now apply for the Category III environmental authorization from the Ministry of Environment and Natural Resources regional office in Estelí, which allows for low impact activities such as geological mapping, prospecting and limited trenching and drilling in a designated area.
