Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said a metallurgical recovery of 91% will be used in the forthcoming feasibility study for the La India open pit in Nicaragua after final metallurgical tests demonstrated that gold recovery is independent of grade.
“91% metallurgical recovery over the life of mine is a terrific result and represents a significant de-risking of one of the most important variables in the development of a new mine at La India project and provides significant comfort to investors,” said chairman and chief executive Mark Child.
The gold recovery of 91% assumes a 75-micron grind size. At a finer grind size of 53 microns an average gold extraction of 94.7% was achieved, indicating a potential upside gold recovery of about 93%, said Condor.
Condor shares rose as much as 10% following the announcement and were trading up 4.5% at 23.25p in mid-morning London trading.