Highlights
- 4000 m infill drilling commences within permitted La India opencast has commenced.
- Drilling focused on shallow (to around 35 m depth) high-grade starter pits within the main La India opencast.
- Final drilling to make the starter pits ‘shovel ready’ ahead of production.
- Starter pits are designed pits containing 445 000 t at 4.17 g/t gold for 59 700 oz gold using a 2 g/t gold cut-off.
- Aim to convert a small near-by tonnage in the inferred mineral resource category to the higher confidence indicated mineral resource category, and its potential inclusion in the mine plan.
- Replacement of historical RC drilling within the main La India opencast with diamond core drilling to enhance sample quality and the database ahead of extraction and assist with mine scheduling.
Mark Child, Chairman and CEO, commented: “As Condor progresses towards production it has been decided to initiate mine production with high-grade starter pits within the permitted main La India opencast and the permitted high-grade Mestiza opencast. La India opencast hosts a probable mineral reserve of 6.9 million t at 3.01 g/t gold for 675 000 oz gold with all-in-sustaining-cash costs of US$690/oz gold. The La India starter pits are designed pits, the estimated mill feed is 445 000 t at 4.17 g/t gold for 59 700 oz gold using a 2 g/t gold cut-off. The starter pits have a maximum depth of 35 m and have a relatively low strip ratio. The drill program within the La India starter pits will close-up the sample density to 25 m by 25 m spacing and is the final drilling ahead of extraction. Drilling on the high-grade Mestiza opencast is expected to start in January 2021. Mining the higher grade will bring forward cashflow, shorten the payback period and enhance project economics.”
