Cacao has an current useful resource of 662,000 tonnes at 2.8 grams gold for 60,000 ounces of gold on a strike size of solely 600 meters.
“The potential so as to add additional gold mineral useful resource ounces from Cacao could have a major affect on the general worth of our current La India venture,” stated chief govt Mark Little one in a media assertion.
Condor Gold staked concessions in Nicaragua, Central America’s largest nation, in 2006. Since then, mining has considerably taken off as a result of arrival of international corporations with the money and experience to faucet into current reserves.
The federal government of Nicaragua granted Condor Gold in 2019 the 132.1 km2 Los Cerritos exploration and exploitation concession, which expanded La India venture concession space by 29% to a complete of 587.7 km2.
Condor additionally attracted a associate — Nicaragua Milling. The privately held firm, which took a ten.4% stake within the miner in September 2019, has operated within the nation for twenty years.