The Argentine has been out of action since the end of February but is in line to make a timely return as the Magpies look to ease their relegation fears at Upton Park.
Alan Pardew: "I think Colo's important this week, no disrespect to the two centre-halves who played against Liverpool.
"I think his leadership is important.
"Hopefully, he comes through this week, and we can get him out on the pitch with the armband on."
Of the two centre halves on duty against Liverpool, Steven Taylor appears the most likely to retain his place against the physical threat of former team-mates Andy Carroll and Kevin Nolan.
Source: Newcastle United Mad