LONDON (ShareCast) - (Sharecast News) - Condor Gold has started a ground investigation program consisting of 20 geotechnical drill holes and 58 test pits on the tailings storage facility, water retention reservoir and processing plant site at La India Project in Nicaragua, it announced on Tuesday.
The AIM-traded firm said it was accelerating La India 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.

It said geotechnical drilling and test pits for the final design for the tailing storage facility had commenced, with the final storage facility design to be fully compliant with internal and external legislation.

Geotechnical drilling and test pits on La Simona dam and reservoir were also being carried out, with a goal to develop the design criteria for a retention dam and diversion water facility.

Work was also underway, via a dozen test pits, on initial characterisation of the geotechnical properties of the plant area, to allow the next phase of design work to be detailed.

"The commencement of ground investigations via a geotechnical drilling program of 20 drill holes and 58 test pits on the tailings storage facility, La Simona water retention reservoir and processing plant site demonstrates Condor's commitment to advance La India Project to construction," said chairman and chief executive officer Mark Child.

"Condor has previously completed a pre-feasibility level design on the tailings storage facility 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 tailings storage facility final level of design, which will, subject to funding, allow the fast tracking of the project to future operational status."

At 1338 GMT, shares in Condor Gold were up 2.47% at 41.5p.

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