True width is based on the current interpretation of the veins and may be revised in the future. Top six intercepts ranked by grade multiplied by true width.
Mark Child, Chairman and CEO commented:
"The assay results from the infill drilling programme within the whittle pit shell on La India open pit resource continue to demonstrate continuity of gold mineralization and grade, reaffirming our view that the current drilling programme's target of 800,000 oz gold resource in the Indicated category should be achievable. 5,359m out of a 7,000m drilling programme has been completed of which 1,901m of new drill results are included in this announcement. The best new drill intercept is in drill hole LIDC193, approximately 15m beneath surface, of 6.80m at 13.99g/t gold. Drill hole LIDC183 of 41.26m at 1.41g/t gold near surface demonstrates the coalescence of the India and California veins.
The interconnecting America-Constancia-Escondido veins have a resource of 288,000 oz at 6.0g/t gold including 120,000 oz at 7.8g/t gold in the Indicated Category. The latter is largely estimated from historic underground channel sampling, which was restricted to the high grade core of the veins that were historically targeted for mining. The resource estimation excludes gold mineralisation in the remnant wallrock of the old mine workings as this area has not been previously drilled. Condor has completed 2,664m of a 4,000m drilling programme through the historic mine works of the America-Constancia-Escondido veins. Several drilling intercepts through the old mine workings, including LIDC179 of 4.65m at 6.11g/t gold demonstrate significant gold mineralisation remains in the remnant wallrock."
La India Vein Set
Thirty-five drill holes for 5,359m out of a 7,000m drilling programme on the La India Vein Set have been completed with the primary aim of upgrading the mineral resource that falls within the bounds of the current Whittle open-pit from Inferred to the Indicated level of confidence. The current in-pit resource is 8.21 million tonnes at 3.6g/t for 954,000 oz gold of which 534,000 oz gold at 3.9 g/t is in the Indicated Category and 420,000 oz gold at 3.3g/t in the Inferred Category. Most of the Inferred Category is targeted for conversion. The drilling programme also aims to extend the open pit to the north and increase the resource within the existing whittle pit shell by targeting areas that have been sparsely drilled and have the potential to add in-situ ounces once drilled to the Indicated level of confidence. In addition, four drill holes are being extended into the footwall of La India Vein with the dual aim of testing for a parallel vein within the footwall zone and providing geotechnical data that will be used to better assess potential open-pit wall stability and plan pit wall angles.
Assay results have been received for a further 12 drill holes for 1,901m (Table 3 below) since the last announcement (see RNS announcement dated 11th January 2013) such that a total of 31 drill holes for 4,692m of the current drilling programme on the India-California vein trend have been received to date. The latest results are generally consistent with expectations and appear to validate the geological model used in the current resource by confirming the continuity and average grade of the gold mineralisation.
In the southern zone an intercept of 6.2m (4.7m true width) at 2.39g/t gold in drill hole LIDC181 is consistent with drilling 50m up and down-dip and along strike in both directions confirming geological continuity of mineralisation in this area (Figure 3 below). Weak mineralisation on the 450 cross-section (drill holes LIDC180 and LIDC182) and the 500 cross-section (drill hole LIDC196) confirms the low grade zone modelled in the current mineral resource between the Southern and Central high grade shoots. The 750 and 900 cross-sections of the Central zone continued to return wide moderate to high grade intercepts with a best intercept of 6.8m (6.5m true width) at 13.99g/t gold in drill hole LIDC193. In the Central-North zone an intercept of 1.75m (1.5m true width) at 3.45g/t gold in drill hole LIDC178 was returned from a California Vein in the hangingwall zone of the historic mine workings.
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