Condor Gold (TSX: COG) today announced that the company has commenced a 1,700 meter infill geotechnical drilling program within the La India Open Pit. Condor has deployed two diamond drill rigs to hasten progress at the site.
Condor has described the program’s desired outcomes as two fold. One side of the program is targeted towards collecting high quality data that will allow for the refinement of pit wall design slopes, and secondly at positively expanding the resource reserves within La India open pit, if the pit pushes deeper.
The 2014 PFS was conducted at a spot price of US$1,250 oz gold. This current project is meant to align the latest pit slopes and future pit designs with up-to-date gold market conditions. It’s expected that this could potentially take the pit to deeper levels, converting the current below-ground mineral resource, under the pit, into an open pit mineral resource.
The planned program will see a total of thirteen holes drilled ranging in depth from 50 to 200 meters from the surface, with an average length of 131 meters. The infill geotechnical drilling program is expected to take 5 or 6 weeks to complete.
Condor Gold last traded on the TSX at $0.90.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
