The Nicaragua Ministry of Energy and Mines has granted Aim- and TSX-listed Condor Gold a 25-year exploration and mining concession over a 132 km2 area to the northwest of Condor’s La India project.
The Cerro Los Cerritos concession expands the La India project concession package by 29% to 587.7 km2.
Condor CEO Mark Child said in a statement on Monday that the grant confirmed that Nicaragua was pro-mining, open for business and supportive of Condor.
The Cerro concession is expected to host the extension of two north-northwest trending mineralised basement feeder zones that traverse the La India gold district. The La India gold district potentially hosts more than five-milllion ounces of gold.
Condor will soon apply for a Category 3 environmental authorisation from the Nicaragua Ministry of Environment and Natural Resources, which permits low-impact activities such as geological mapping, prospecting and some trenching and drilling in a designated area.
The company also has planned meetings with stakeholders to access permits from landowners prior to proceeding with surface exploration of the area.