Mining firms advance push for Nicaragua gold growth

Mining companies are advancing toward production growth across a string of gold assets in Nicaragua following exploration successes.

Firms have reported high grade drill results from two development stage assets in recent days, with another announcing a major expansion of reserves at producing mines.

Mining companies are planning a sharp increase in gold output from Nicaraguan assets in the coming years.

CALIBRE

Calibre Mining is mulling further production growth following a sharp increase in mineral reserves at its Nicaraguan assets.

The company reported 864,000oz gold in reserves for end-2020, up 202% from end-2019.

Reserve grades are 4.49g/t gold.

The updated reserve estimate provides an excellent foundation for future growth, CEO Darren Hall said.

Reserves are split between the Libertad and Limón mines, with additional inferred resources at the Eastern Borosi project.

MAKO

Mako Mining reported high grade drill results from its San Albino project, where commercial production is on track for Q2.

Drilling from the Arras Zone at San Albino intersected 24g/t gold over 4.4m, 15m from surface and outside the resource pit shell.

Ongoing exploration at Arras aims to increase confident in current resources and define additional, shallow high-grade resources.

Mako secured financing in February allowing it to accelerate the ramp up at San Albino.

CONDOR

Condor Gold completed the first 40 holes of a diamond drill program at its La India project (in picture), focusing on the La India starter pit area.

Highlights include 17.9m at 3.27g/t gold, including 2.1m at 15.1g/t.

The high-grade intersect “is highly encouraging and adds considerable confidence to the geological model, the mineral resource and reserve calculation and mine plan,” CEO Mark Child said.

Condor is planning to accelerate development of La India toward production following an agreement earlier in March to acquire a new SAG mill from First Majestic Silver.