Fifteen drill holes for 3,500 m 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. Secondly to test that the gold mineralizing system extends, buried below surface, beyond the 450 m long outcrop where all the drilling had been concentrated to-date. 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 1,000 m 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 (drill hole CCDC033) 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 (drill hole CCDC028) beneath alluvial cover some 400 m along strike of the Cacao mineral resource, interpreted as the top of an epithermal system.
Background
The Cacao prospect is a low-sulphidation epithermal gold vein deposit with an Inferred Mineral Resource of 188,000 tonnes at 2.3 g/t for 14,000 oz open-pittable gold, and 474,000 tonnes at 3.0 g/t for 46,000 oz with underground mining potential, contained within a 450 m strike length to a depth of 150-250 m below surface. It has been identified as a potential satellite deposit for processing at the Company's fully permitted processing plant to be located 4 km away. The mineral resource modelling indicates that Cacao could support a small open pit. Current exploration drilling is focused towards identifying deeper level mineralisation that could support a larger pit or underground mining.
The Cacao prospect sits on a major east-west trending structure with a 3-4 km strike length identified in Condor's regional geophysics and soil sampling data. Other isolated exposures of bedrock along the structure have returned anomalous gold assays. The best results to the east of Cacao are rock chip samples of up to 11.6 g/t gold from artisanal mine workings approximately 1.6 km east of the mineral resource. The Cacao structure occurs within a major downthrown geological block, separated from the Company's principal gold deposit at La India by the late-stage Highway Fault. At La India erosion has exposed high-grade epithermal mineralisation at surface, however, at Cacao the low-lying downthrown block has not been significantly eroded and the epithermal mineralisation is typically hidden and interpreted to be preserved in its entirety beneath the surface.
The latest drilling campaign has tested the geological concept that the gold-bearing rock outcrops at Cacao are part of the top of a higher grade, deep-seated, and possibly much more extensive epithermal gold deposit. The depth potential was tested by drilling 50 m and 100 m spaced step-out drill holes around and below the current mineral resource to explore for the higher-grade epithermal boiling zone interpreted to be at depth. Secondly, the deep-seated strike potential was drill tested along 500 m strike extension immediately to the east of the Cacao Mineral Resource with 100 m spaced drill holes to explore for the mineralised structure beneath the alluvial cover.
About the Sampling & Assay Procedures
Drill core was cut, and half core samples collected and bagged by Condor staff on-site. Samples were transported to
Contact:
Tel: +44 (0) 20 7493 2784
About
In
Environmental Permits were granted in April and
Forward Looking Statements
All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to the Company within the meaning of applicable securities laws, including statements with respect to: the ongoing mining dilution and pit optimisation studies, and the incorporation of same into any mining production schedule, future development and production plans at
Such forward-looking information involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to: mineral exploration, development and operating risks; estimation of mineralisation and resources; environmental, health and safety regulations of the resource industry; competitive conditions; operational risks; liquidity and financing risks; funding risk; exploration costs; uninsurable risks; conflicts of interest; risks of operating in
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
(C) 2021 Electronic News Publishing, source