Identifies Fully Preserved Epithermal Vein System With Over 1,000m Of Strike
Condor Gold (AIM:CNR; TSX:COG) has received further positive assays results following the completion of drilling at the Cacao Prospect in Nicaragua.
Fifteen drill holes for 3,500m were completed to test the geological concept that the near surface gold mineralisation at Cacao is the top of a fully preserved epithermal gold system. The programme also tested the gold mineralising system extension, buried below surface, beyond the 450m long outcrop where all the drilling had been concentrated to-date.
Chairman and CEO, Mark Child, said both objectives have been achieved with a wide zone of high-grade gold mineralisation intercepted below the current mineral resource, and a wide low-grade gold anomaly identified along strike of the outcropping mineralisation that may be the top of a completely hidden, deep-seated extension of the Cacao epithermal gold system. Follow-up drilling is being planned to test both targets at greater depths.
Highlights
- Cacao epithermal gold system is interpreted as being fully preserved, open along strike and to depth. The latest drilling is clipping the top of the system.
- 10 metre plus true width mineralised zone including the Cacao vein has been confirmed for a strike length of approximately 1,000m beneath and along strike of the existing Cacao mineral resource
- 25.93 m (14.9 m true width) at 3.94 g/t Au from 263.82 m, including 4.58 m (2.6 m true width) at 7.76 g/t Au from 282.12m drill depth below the Cacao mineral resource and open to depth and along strike in both directions.
- 39.65 m (32.9 m true width) at 0.38 g/t Au from 181.47 m, including 3.05 m (2.5 m true width) at 2.34 g/t Au from 218.07 m drill depth beneath alluvial cover some 400 m along strike of the Cacao mineral resource, interpreted as the top of an epithermal system.
“Part of Condor’s strategy is to demonstrate a 5M oz Gold District. The recently completed 3,500m exploration drill programme has been a success,” Mr Child said.
“A 10 metre plus true width mineralised zone including the main Cacao vein has been confirmed for a strike length of approximately 1,000 m beneath and extending to the East of the current Cacao Mineral Resource of 662 Kt at 2.8 g/t gold for 60,000 oz gold.
Drill hole CCDC033 intercepted 14.9 m true width at 3.94g/t gold beneath the existing mineral resource, and 700 m along strike of this intercept, drill hole CCDC028 intercepted 32.9 m true width at 0.38g/t gold.
‘Cacao is interpreted as a fully preserved epithermal gold system due to the sinter on the surface and its preservation in a downthrown block. The current round of drilling has been interpreted to be clipping the top of the gold mineralising system, with the gold grade increasing at depth.
“It is highly significant that a wide, greater that 10 m true width, mineralised zone for a strike length of 1,000m, open along strike and down dip, has been identified with grades increasing at depth.
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