Condor Gold Plc is planning a 10,000-meter drilling program in 2017 at the La India project in Nicaragua, it said March 31.
The company aims to expand the current mineral resource of 18 million tonnes at 4.0 g/t of gold for 2.31 million ounces of contained gold by drill-testing the historical Soviet area resources at the Mestiza vein set.
The company has completed about 360 meters of a 2,000-meter, relatively shallow drilling campaign on Mestiza.
Depending on the outcome of the drilling, the company is expected to undertake a further about 4,000 meters of drilling to convert the Soviet mineral resource to a National Instrument 43-101-compliant inferred mineral resource.
The company noted that Mestiza already hosts an NI 43-101-compliant resource of 1.5 million tonnes at 7.47 g/t of gold for 333,000 contained ounces. However, this was excluded from the current pre-feasibility study and preliminary economic assessments at the project.
"There is a high possibility of bringing additional high-grade gold from Mestiza into a future mine plan, feeding a centralized processing plant," Condor added.
In addition, the company will look to identify new resources hosted in additional veins sets on the 313-square kilometer project area with 4,000 meters of scout drilling.