Thursday, 21st December 2006 (2373 views)

Australian-based mining company Condor Resources has increased its resource estimate for its La Calera project in El Salvador.

The company has confirmed that its initial resource calculation for gold for the project has been raised by 32 per cent following ongoing exploration at the site.

Therefore, total inferred resources at La Calera equal 1.69 million tonnes of gold at a grade of 2.07 grams per tonne, or 112,604 ounces and 1.69 million tones of silver at 1.79 grams per tonne, or 97,373 ounces.

Condor Resources currently has number of operations throughout central American, with its El Potosi and El Pescadito projects in El Salvador showing promising forecasts. The company is also planning to expand exploration at its San Albino project in Nicaragua in order to ensure gold production in the near future.

It is expected Condor Resources will continue drilling at the La Calera site during the first three months of 2007 and the latest resource estimates mean that the company's worldwide gold resources now equal a total of 467,104 ounces.

 

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