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Condor expands exploration concession in Nicaragua

1st July 2019

By: Marleny Arnoldi

Deputy Editor Online

     

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The Nicaragua Ministry of Energy and Mines has granted Aim- and TSX-listed Condor Gold a 25-year exploration and mining concession over a 132 km2 area to the northwest of Condor’s La India project.

The Cerro Los Cerritos concession expands the La India project concession package by 29% to 587.7 km2.

Condor CEO Mark Child said in a statement on Monday that the grant confirmed that Nicaragua was pro-mining, open for business and supportive of Condor.

The Cerro concession is expected to host the extension of two north-northwest trending mineralised basement feeder zones that traverse the La India gold district. The La India gold district potentially hosts more than five-milllion ounces of gold.

Condor will soon apply for a Category 3 environmental authorisation from the Nicaragua Ministry of Environment and Natural Resources, which permits low-impact activities such as geological mapping, prospecting and some trenching and drilling in a designated area.

The company also has planned meetings with stakeholders to access permits from landowners prior to proceeding with surface exploration of the area.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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