Condor Gold (COG.TO, CNR.L) continues to advance its La India project in Nicaragua and the updated resource estimate which was published earlier this quarter has now boosted the total resources to 1.14 million ounces (at 3.6 g/t gold) in the indicated category and 1.18 million ounces (at 4.3 g/t) in the inferred resource category for a combined 2.3 million ounces of gold.
Approximately half (1.3 million ounces) could be mined through an open pit at an average grade of almost 3.3 g/t, and of the total open pit resource, the maiden resource at Mestiza appears to be very intriguing with an initial indicated resource of 92,000 tonnes at 12.1 g/t gold and an inferred resource of 341,000 tonnes at 7.7 g/t for a combined 121,000 ounces of gold. The total amount of ounces sounds relatively low, but this open pit will very likely be a real money maker given the average grade of this vein set. Condor Gold has now also initiated the permitting process to take advantage of the high-grade pits by bringing them into the mine plan as soon as feasible.
This updated resource estimate confirms the findings of previous calculations and studies, and will now be used to define an infill drill program and feasibility study at La India.