Mako buys Nicaragua concessions from Condor
TSX-V-listed Mako Mining has picked up the Potrerillos exploration and exploitation concession from dual-listed Condor Gold for $600 000.
The concession comprises 12 km2 of sub surface mineral rights and is located in Nuevo Segovia in the north of Nicaragua, adjacent to and along strike from Mako's San Albino gold project and which includes the former San Albino mine.
Condor explored the Potrerillos concession between 2007 and 2009, with a number of channel samples taken on trenches and former mine adits.
“This is an important acquisition for Mako. Recent drilling indicates that the Potrerillos concession is along strike and down dip of San Albino. Now that we have access to this concession, we plan to immediately begin exploration work to evaluate our ability to expand San Albino,” said Mako CEO Akiba Leisman.
Condor’s focus is the La India project, which has an environmental permit for the development, construction and operation of a processing plant with capacity to process up to 2 800 t/d with capacity to produce about 100 000 oz/y of from an openpit mineral reserve of 6.9-million tonnes at 3.0 g/t gold for 675 000 oz gold.
The net sale proceeds would be used for working capital purposes on La India project.
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