Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said it expects to publish a Feasibility Study (FS) for its La India project in Nicaragua in the first quarter of next year and provided an update on the progress made so far.
The study is being conducted on La India Open Pit and associated mine site infrastructure.
Work is well underway with supporting field and testing studies nearing completion for the final mine design to begin in November 2021, it said.
“Several key studies have been completed or are near completion,” said chairman and chief executive Mark Child. “There are no negative surprises and the project continues to be materially de-risked, nearing a shovel ready status.
“A Feasibility Study increases the confidence of the project, incorporating a Feasibility Level engineering design, and +/- 15% capital and operating costs. This in turn will facilitate project financing ahead of project construction.”
The processing plant design, incorporating a 2,300 tonnes per day SAG Mill, has been 100% completed as have a surface water hydrological model and the Tailings Storage Facility (TSF) design.
A mineral resource estimate update, including recent in-fill drilling on La India Open Pit, is about 80% complete, it said.