Condor Gold said it had bought the concession next to its La India Project in Nicaragua for just over one million dollars.

It thinks there is a possibility its La India gold resource could extend onto the newly purchased La Mojarra Concession.

The company added there was a chance of additional gold mineralised resources elsewhere on the 27sq km concession.

The $1.01m cost of La Mojarra is to be paid in cash and shares.

Chief Executive Mark Childs said: "An initial assessment of La Mojarra Concession surmises that the surface geological features suggest the potential for the discovery of significant buried gold mineralisation".

"Condor will initiate a geophysics programme on La Mojarra and other concessions in La India Project within the next six months," he said.

Related share prices
Condor Gold (CNR) share price