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See more trades and director dealings. Play the Fantasy Share Trading Game. Please login or register to post a message on Share Chat. Cerro Quiroz is located along the Libertad-Santo Domingo gold mineralisation corridor, and represents the eastern extent of gold mineralisation discovered to date in this broadly east-west orientated epithermal gold system. There is a long history of gold mining in the area dating back over 150 years. At Santo Domingo, only 4 kilometres to the west of the Cerro Quiroz vein a cooperative of small-scale miners have produced an estimated 14,000 ounces of gold since 1980. Despite the long history of gold mining in the area, the Cerro Quiroz vein was only discovered as recently as 2003 by Canadian explorer Chesapeake Gold Corporation who defined a north-south trending quartz vein grading up to 17.
8 grams per tonne gold over more than 1500 metres strike length. The recent discovery of gold mineralisation along a previously unknown trend at Cerro Quiroz within such a large gold mineralised system indicates that the eastern end of the Libertad-Santo Domingo gold district is significantly under-explored. Condor management team are optimistic that the Cerro Quiroz vein is not an isolated structure and that the Concession has the potential for the discovery of significant gold reserves. Central American gold exploration company announces that it has been granted a 25 year exploration and mining concession over an area of 22. 5 square kilometres in the La Libertad-Santo Domingo gold mining district of Nicaragua.
Without exploration success, La Libertad is nearing the end of its mine life—perhaps in another two or three years. La Libertad Mine is expected to produce between 95,000 and 100,000 ounces of gold in 2019. La Libertad’s gold production is forecast to be weighted towards the second-half of the year. In 2019, La Libertad is budgeted to process a total of 2. 3 Mt of ore at an average grade of 1.
There is no non-sustaining capital budgeted for La Libertad in 2019. 3 million for a total of 3,400 m of planned core drilling, to test several identified regional surface targets. Closure and reclamation costs are estimated and updated annually. 7 million on an undiscounted basis. Current plans at La Libertad include mining and processing into 2020, with a combination of Mineral Reserves and Mineral Resources. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.