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Condor Gold Plc
Summary
| Project: | La India | |
|---|---|---|
| Deposit: | La India | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 8/6/2018 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Mine Development | |
| Report details: | 6-8-2018: Condor Gold Plc announces an EIA/ESIA report for its La India deposit at the La India project. Environmental Approval secured for Mine development and operation. Condor Gold (AIM: CNR; OTCQX: CNFGF; TSX: COG) is pleased to announce that it has r | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Crawford (Internal) | |
| ABSTRACT: | Condor Gold (AIM: CNR; OTCQX: CNFGF; TSX: COG) is pleased to announce that it has received an environmental permit for the development, construction and operation of a processing plant with a capacity of up to 2,800 tonnes per day ("tpd") and associated mine site infrastructure at its wholly-owned La India Gold Project, located in the Department of Leon, Nicaragua.Mark Child, Chairman and Chief Executive Officer of Condor, commented:"I am delighted that the Ministry of the Environment and Natural Resources ("MARENA") has granted Condor Gold the key Environmental Permit for the development, construction and operation of a processing plant with capacity to process up to 2,800 tpd. Gold production is expected to be approximately 80,000 oz gold per annum from a single open pit, represents a US$120 million investment and creates 1,000 new jobs."The receipt of the Environmental Permit is a tribute to the hard work and dedication of Condor Gold's team on the ground, they are 100% Nicaraguan nationals; I am proud of their achievements. It also marks the culmination of 11 years of detailed scientific geological work and technical mining studies at La India Project, including three years of the permitting process. The local team share the Company's vision of working with the local communities to alleviate poverty, provide employment and significantly raise living standards in a former mining community by building a new gold mine. The grant of the permit is also an important sign of commitment by the Nicaraguan Government to the mining industry in the Country."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"). In addition, under the conditions of the Environmental Permit, the Company has to submit to MARENA final engineered designs for several key components of the mine prior to construction. For example, the final design and operations manual for the Tailings Storage Facility. Subject to financing, completion of a BFS and completion of the final engineering designs, construction is expected to commence within 18 months of the grant of the Environmental Permit. The construction period is expected to take 18 to 24 months." | |
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