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Nicaragua
La India Project

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 Location:
2.3 km NW from La Cruz de la India, Nicaragua

  Project Contacts:
7/8 Innovation Place Douglas Drive
Godalming
United Kingdom
GU7 1JX
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life8.4 years (as of Jan 1, 2022)
Condor’s strategy has been to develop the fully permitted La India Project in 2 stages. The plan is to materially expand production with a stage 2 expansion by converting existing Mineral Resources into Mineral Reserves and an associated integrated mine plan.

The Board has concluded it is in the best interests of the Company and all stakeholders to sell the assets of the Company to a gold producer with mine building expertise, thus ensuring a new mine at La India, a significant investment in the local area and a regeneration of the local communities.
Latest NewsCondor Gold Provides an Update on the Sale of Assets     December 5, 2023


Owners

Source: p. 21
CompanyInterestOwnership
Condor Gold Plc 100 % Indirect
Condor Gold Plc holds 100% ownership of a 588 km2 concession package covering 98% of the historical La India Gold Mining District.

Contractors

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Deposit Type

  • Hydrothermal
  • Vein / narrow vein
  • Breccia pipe / Stockwork


Summary:

Gold mineralisation at La India occurs associated both with quartz vein systems and within well-confined hydrothermal breccias. The veins and stockwork zones are hosted within massive andesites, andesitic and felsic tuffs or felsic lava flow deposits. Veins are typically less than 3 m in width, but stockwork zones and stacked stockwork-vein zones can be up to 25 m wide.

Quartz veins, often including a brecciated component, vary in thickness and are most typically between 0.7 m and 2 m in thickness. In many areas, the wallrock hosts a breccia or stockwork zone with vuggy quartz veinlets up to 5 cm thick and accounting for up to 70% of the rock mass. The breccia/stockwork zone is typically up to 10 m thick and is associated with silica-haematite alteration. The quartz in the breccia zone may be gold mineralised, although the country rock component means that gold grades are diluted compared to the veins.

The grade of gold and silver can vary from a few grams per tonne to significant intersections with grades in excess of 30 g/t Au (>1 oz/t). Gold mineralisation occurs as fine gold-silver amalgam with a gold to silver ratio of 1 to 1.5.

The “Central Breccia” Deposit is interpreted as a gold-mineralised hydrothermal breccia with, low grade gold mineralisation is associated with carbonate breccia cement and high-grade gold mineralisation is associated with argillic alteration and sulphide mineralisation.

The gold-silver mineralised phrea ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining operation consists of a conventional drill, blast, load and haul operation with material hauled to the WRDs (Waste Rock Dump), backfill areas, HG (High grade distance restriction zone), MG (Medium grade distance restriction zone), LG (Low grade distance restriction zone) and Marginal stockpiles.

The 2022 FS assumes a single open pit mining operation extracting ore at a nominal rate of 1.3 Mtpa (during the 5 years after pre-stripping and before ramp-down) with an operating life of 8.4 years and mill processing at a nominal rate of 0.89 Mtpa. The mine schedule produces a total of 7.3 Mt of ore grading 2.56 g/t Au with an associated 96.7 Mt of waste. A stockpiling strategy is employed to provide higher grade ores in the initial years of operation. The average life of mine (LOM) stripping ratio is 13.2:1 (twaste:tore) over a mine schedule of 7 years including 1 year of pre-stripping 5.1 Mt. After operating Year 6, mining from the pit will cease but mill production will continue into Year 9 as the lower grade material from the stockpile is processed. The La India open pit is located to the northwest of the village of La India and excludes the requirement for the relocation of the village. The pit at full extent maintains a 100m standoff from the nearest structures and is separated by a 5m high berm to minimise the sound, dust, and visual impact of the mine.

The waste rock extracted from the pit will initially be placed in an external dump to the n ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 82548
Silver koz  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual processing rate  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at March 31, 2022:
Underground Mineral Resources beneath the open pits are reported at a cut-off grade of 2.0 g/t Au over a minimum width of 1.0 m. Cut-off grades are based on a price of USD1,800 per ounce of gold.
Mineral Reserve based on a cut-off grade of 0.6 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Probable 7.32 Mt Gold 2.56 g/t 602 koz
Probable 7.32 Mt Silver 5.31 g/t 1,250 koz
Indicated 9,672 kt Gold 3.5 g/t 1,088 koz
Indicated 9,672 kt Silver 6.4 g/t 1,992 koz
Inferred 8,642 kt Gold 4.3 g/t 1,190 koz
Inferred 8,642 kt Silver 8.1 g/t 1,193 koz

Commodity Production Costs:

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold USD  ......  Subscription required
All-in costs Gold USD  ......  Subscription required
Assumed price Silver USD  ......  Subscription required
Assumed price Gold USD  ......  Subscription required
* According to 2022 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t milled) USD 34 *  
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 179.4
G&A costs $M USD 49.1
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Operating margin, %  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Net Operating Income (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 0% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of October 25, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
Compactor ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Feb 6, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 25, 2022
....................... Subscription required ....................... Subscription required Subscription required Feb 6, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 6, 2023
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Feasibility Study Report 2022
Press Release 2022
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
Pre-Feasibility Study Report 2014
Subscription required - Subscription is required.

News:

NewsDate
Condor Gold Provides an Update on the Sale of Assets December 5, 2023

Subscription required - Subscription is required.

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