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Condor Gold are nearly ready at La India project in Nicaragua

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(Kitco News) - Condor Gold (CNR:LSE) has kicked off a 4,000-metre close-spaced infill diamond drilling programme within the permitted open pit at La India project, Nicaragua. The firm plans to tighten the drill hole spacing within the planned high-grade starter pits on the principal La India vein, to provide the sample density required to finalize pit designs and mine schedules ahead of production. 

The mine represents good value for the company as La India open pit hosts a probable mineral reserve of 675,000 ounces of gold and is estimated to be operated with all-in-sustaining-cash costs of US$690 per ounce.

Condor Gold chief executive Mark Child stated "As Condor progresses towards production it has been decided to initiate mine production with high-grade starter pits within the permitted main La India open pit and the permitted high-grade Mestiza open pit,”.

The share price gapped up this morning to hit a high of 50p. The yearly high currently stands at 62p and if the red trendline breaks the bulls could be well on their way. 

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