Condor Gold (AIM: CNR; TSX: COG) has said in a statement that it has commenced a ground investigation program consisting of 20 geotechnical drill holes and 58 test pits on the Tailings Storage Facility (TSF), Water Retention Reservoir and Processing Plant site at La India Project, Nicaragua.
Condor is accelerating La India Project from a Pre-Feasibility level of design to Final Engineering Designs on key infrastructure in preparation for construction on the fully-permitted La India gold mine project.
Geotechnical drilling and test pits for the final design for the tailing storage facility (TSF) has commenced, the company said.
Mark Child, Chairman and CEO commented: “The commencement of ground investigations via a geotechnical drilling program of 20 drill holes and 58 test pits on the Tailings Storage Facility (TSF), La Simona water retention reservoir and processing plant site demonstrates Condor’s commitment to advance La India Project to construction. Condor has previously completed a Pre-Feasibility level design on the TSF and water retention reservoir. The decision has been taken to accelerate the Project, by-passing a Feasibility level design, which is typically required for bank lending and go directly to a TSF Final level of design, which will, subject to funding, allow the fast tracking of the Project to future operational status”.
Background Tierra Group International, Ltd. (Tierra Group) has been engaged to develop the Final Designs for the TSF and water retention reservoir for a new mine at La India Project. The Final TSF design will be fully compliant with internal and external legislation.
In August 2018 Condor received an environmental permit for the development, construction and opertion of a processing plant with a capacity of up to 2,800 tonnes per day and associated mine infrastructure at the La India Project. Following the grant of the Environmental Permit the Company’s objective is to progress the redesigned mine site infrastructure for La India Open Pit to a bankable level of Feasibility Study (“BFS”).