Condor Gold (AIM:CNR), announced that they have acquired the 86.4 sq km ‘HEMCO-SRP-NS’ Concession for a US$275,000 payable by way of issuing new ordinary shares in Condor Gold.
As quoted in the press release:
- 86.4 sq km Concession covering a potential 13km strike extension to the America and Mestiza Vein Sets.
- Consideration of US$275,000 payable by issuing new ordinary shares in Condor Gold plc at a price of £2.00 per share.
- Four areas of quartz veining identified, indicating epithermal fluid movement.
- Historically poorly explored area due to poor access.
Condor’s Chairman and CEO, Mark Child, said:
The dominant trend of the quartz veins that comprise La India Project is from the North-West to the South-East. Preliminary field work by Condor’s geologists indicates that the veins within the America Vein Set which hosts a resource of 405,000 oz gold at 6.0g/t and the Mestiza Vein Set which hosts a resource of 334,000 oz gold at 7.0g/t are open to the North West and trend into the HEMCO Concession.