Condor Gold share price jumps on concession
Nicaragua’s Ministry of Energy and Mines has granted the explorer and developer Condor Gold the Las Cruces concession, expanding the La India project package by 45% to 455.6 km2.
The La India project now comprises 11 adjacent and contiguous exploration and exploitation concessions, which Aim- and TSX-listed Condor acquired over the last 12 years.
CEO Mark Child commented that the 25-year concession confirmed that Nicaragua was pro-mining and open for business.
He added that the La India project could be a major gold district and that it had the potential to host more than five-million ounces of gold.
Condor's geologists have identified a major north-northeast-striking basement feeder zone through the La India corridor, which hosts 90% of Condor's 2.4-million ounce gold resource. The feeder zone can be projected south-east into Las Cruces.
Child said that mapping and early prospecting/sampling showed that Las Cruces was inside a volcanic caldera and had extensive clay alteration and rare vuggy silica.
“This alteration appears to be a 'lithocap', which raises the possibility of underlying porphyry-style mineralisation (copper and/or gold). This porphyry is potentially the 'heat engine' and metal source that caused gold mineralisation across the entire La India gold district. We are particularly keen to follow up on anomalous samples of up to 0.1% copper."
Condor jumped 10% on the Aim on Friday to trade at 31p a share.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation