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The highlight new drill result is LIDC464 of 6.6 m true width at 10.51 g/t gold.
The drilling programme has successfully completed 4 objectives: Firstly, to tighten the drill hole spacing to 25 m by 25 m within high grade starter pits within the fully permitted La India open pit. Secondly, to provide the sample density required to finalize pit designs and mine schedules ahead of production. Thirdly, the diamond drilling programme has replaced all historical RC drill holes within the overall La India open pit Mineral Resource and Mineral Reserve, the results of which will improve the integrity of the geological model and sample quality. Lastly, the diamond drilling targeted nearby Inferred Mineral Resources to potentially upgrade the target to an Indicated Mineral Resource, and its then potential inclusion in the mine plan.
Highlights
- 3,370 m diamond core drilling programme completed, all assay results have been received and all significant intercepts have been reported.
- 22.05 m (21.6 m true width) at 6.48 g/t gold from 24.75 m drill depth including 15.35 m (15.0 m true width) at 8.68 g/t gold from 24.75 m drilled depth (drill hole LIDC413).
- 60 m (54.5 m true width) at 1.98 g/t gold from 4.15 m drill depth, including 5.75 m (5.2 m true width) at 16.88 g/t gold from 42.55 m drill depth in drill hole LIDC452 located between the two proposed starter pits.
- 16.00 m (15.7 m true width) at 5.30 g/t gold from 18.35 m drill depth, including 5.90 m (5.8 m true width) at 12.35 g/t gold from 22.10 m drilled depth (drill hole LIDC416).
- The wide zone of gold mineralization of 54.5 m true width at 1.98 g/t gold near surface has the potential to reduce the strip ratio in the area between the starter pits due to the increase in gold mineralized tonnage verses waste rock, thus potentially improving Project economics.
- Potential to amalgamate the two
"All assay results for a 3,370 m diamond core drill programme have been received. Please see Table 1 below for top 10 gold intercepts, notably: 22.05 m (21.6 m true width) at 6.48 g/t gold from 24.75 m drill depth including 15.35 m (15.0 m true width) at 8.68 g/t gold from 24.75 m drilled depth (drill hole LIDC413) and 60.60 m (54.5 m true width) at 1.98 g/t gold from 4.15 m drill depth, including 5.75 m (5.2 m true width) at 16.88 g/t gold from 42.55 m drill depth in drill hole LIDC452 located between the two proposed
This has been a very successful drill programme and achieved a number of key objectives: Firstly, the geological model has been re-affirmed and is now more robust following a close spaced 25 m by 25 m drill programme in the Starter Pits with some drill assay results better than expected. Secondly, the Starter Pits are now "shovel ready", are within 35 m of surface and will provide early high-grade mill feed for the recently purchased
Background and Summary of Drill Programme
The drilling has returned grades and widths of the principal gold mineralised structures in-line with expectations and achieved the four objectives stated earlier. It has also extended the strike length of an approximately 2 m wide vein in the footwall zone which potentially can add extra ounces of gold to the mineral resource. A broad zone of mineralisation from near surface, LIDC452 of 54.5 m true width at 1.98 g/t gold, including 5.75 m (5.2 m true width) at 16.88 g/t gold, has been confirmed between the two
Table 1. Top ten gold intercepts from
The twinning and replacement of RC drilling data with diamond core drilling within the open pit Mineral Resource and Mineral Reserve Estimate was undertaken to improve the quality and resolution of the geological model. The diamond core twin drill holes generally confirmed the results of the RC drilling. However, some higher than expected grades and broader zones of mineralisation intersected near surface between the two planned
1. 60 m (54.5 m true width) at 1.98 g/t gold from 4.15 m drill depth, including 5.75 m (5.2 m true width) at 16.88 g/t gold from 42.55 m drill depth in drill hole LIDC452 located between the two proposed
2. 75 m (3.4 m true width) at 9.94 g/t gold from the hanging wall of the historic mine workings in drill hole LIDC454 located between the two
The starter pits are currently planned to exploit two high-grade segments of the La India open pit to a depth of approximately 35 m below surface; the Southern starter Pit along a 250 m strike length and the Northern starter Pit along 300 m strike are separated by 200 m of what was previously considered a low grade zone.
These new drill intercepts will be considered in the final starter pit resource estimation and mine design to see if the starter pits can be extended, of even joined, by exploiting the near-surface gold mineralisation now demonstrated along the intervening 200 m of strike length.
Latest Assay Results
Results for the final two drill holes, one infill drill hole and one RC-twin drill hole were returned:
1. An infill drill hole (LIDC464) intercepted 6.65 m (6.6 m true width) at 10.51 g/t gold some 10 m below the
2. A broad intercept of moderate-grade mineralization returned from the final RC-twin drill hole LIDC468 is comparable with the original RC drilling results and confirms mineralization as modelled in this relatively low-grade section of the La
Table 2. Final assay results from
Notes:
1. The sample chain of custody is managed by the Condor's Geology Team on site. Reported results are from diamond drilled core samples. Intervals of core to be analysed are split into half using a mechanized core cutter, with one half sent to the Laboratory for geochemical analysis and the remaining half kept in storage for future reference and uses. Diamond drilled core has been a HQ size and recoveries are consistently 100% across all drill holes intercept reported.
2. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QAQC program involves insertion of duplicate samples, blanks and certified reference materials in the sample stream. Gold analyses are performed by standard fire assaying protocols using a 50-gram charge with atomic absorption (AAS) finish and a gravimetric finish performed for assays greater than 10 grams per tonne.
3. Sample preparation and analysis are performed by the independent
About the Starter Pits
On
The La India Vein Set hosts an open pit Mineral Resource of 8,377 kt at 3.1 g/t gold for 837 Koz gold in the Indicated category and 887 kt 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 kt at 4.9 g/t gold for 107 Koz gold in the Indicated category and 1,718 kt at 5.6 g/t gold for 309,000 oz gold in the Inferred category.
The
As announced on
Table 3:
About the replacement of Reverse Circulation (RC) drilling with
Following the recent completion of a 25 m-spaced infill and reverse circulation (RC) replacement drilling on the La India Starter Pits (see RNS dated
The current open-pit Mineral Resource partially relies upon chip samples from RC drilling. Whilst it is generally recognised that RC drilling provides reliable gold-grade data at regular metre-scale sample intervals suitable for inclusion in an open-pit Mineral Resource estimation, better and more detailed geological information on the structures that contain the gold mineralised veins and breccia is provided by diamond core drilling. This additional data will further enhance the current Mineral Resources and Mineral Reserves and be utilised in final mine schedules.
About the Drilling Techniques
Drilling was undertaken using heavy duty track-mounted drilling rigs. All of the drilling was undertaken using diamond core drilling techniques employing large diameter PQ core barrels and triple tube in the mineralised zones to ensure good sample recovery. Drilling close to surface and in proximity to historical and artisanal mine workings can present challenges to the driller, however, the drilling programme benefitted from employment of local geologists, field support staff and experienced drill contractors, all with a decade of experience of drilling at la India. Consequently, all target depths were met and good sample recovery was achieved.
About the Assaying
Drill core was cut, and half core samples collected and bagged by Condor staff on-site. Samples were transported to
- Ends -
For further information please visit www.condorgold.com or contact:
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Blytheweigh
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In Europa:
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About
In
Environmental Permits were granted in April and
Disclaimer
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.
Qualified Persons
The Mineral Resource Estimate has been completed by
The technical and scientific information in this press release has been reviewed, verified and approved by Gerald D. Crawford, P.E., who is a "qualified person" as defined by NI 43-101 and is the Chief Technical Officer of
The technical and scientific information in this press release has been reviewed, verified and approved by
Technical Information
Certain disclosure contained in this news release of a scientific or technical nature has been summarised or extracted from the technical report entitled "Technical Report on the
Forward Looking Statements
All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to the Company within the meaning of applicable securities laws, including statements with respect to: the ongoing mining dilution and pit optimisation studies, and the incorporation of same into any mining production schedule, future development and production plans at
Such forward-looking information involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to: mineral exploration, development and operating risks; estimation of mineralisation, resources and reserves; environmental, health and safety regulations of the resource industry; competitive conditions; operational risks; liquidity and financing risks; funding risk; exploration costs; uninsurable risks; conflicts of interest; risks of operating in
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Technical Glossary
Assay - The laboratory test conducted to determine the proportion of a mineral within a rock or other material. Usually reported as parts per million which is equivalent to grams of the mineral (i.e. gold) per tonne of rock
Ag - Silver
Breccia - A fragmental rock, composed of rounded to angular broken rock fragments held together by a mineral cement or in a fine-grained matrix. They can be formed by igneous, tectonic, sedimentary or hydrothermal processes.
Down-dip - Further down towards the deepest parts of an ore body or zone of mineralisation.
Grade - The proportion of a mineral within a rock or other material. For gold mineralisation this is usually reported as grams of gold per tonne of rock (g/t)
g/t - grams per tonne
Indicated Mineral Resource - That part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.
Inferred Mineral Resource - That part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited, or of uncertain quality and reliability,
Kt - Thousand tonnes
Mineral Resource Estimate - A concentration or occurrence of material of economic interest in or on the Earth's crust in such a form, quality, and quantity that there are reasonable and realistic prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated from specific geological knowledge, or interpreted from a well constrained and portrayed geological model.
NI 43-101 - Canadian National Instrument 43-101 a common standard for reporting of identified mineral resources and ore reserves
Open pit mining - A method of extracting minerals from the earth by excavating downwards from the surface such that the ore is extracted in the open air (as opposed to underground mining).
Strike length -
The longest horizontal dimension of an ore body or zone of mineralisation.
Vein - A sheet-like body of crystallised minerals within a rock, generally forming in a discontinuity or crack between two rock masses. Economic concentrations of gold are often contained within vein minerals.
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