Gold mining company Cora Gold Ltd (LON: CORA) continued an eventful few weeks with the publication of results for a selective infill drill programme for its Selin project at the Sanankoro Gold Discovery in Southern Mali. This comes only days after announcing further mineralisation at the Zone A project on the same field.
The Company said that gold oxide mineralisation extended up to s depth of 90 metres. They recorded potential commercial mineralisation subsections of 25 metres at 2.81 g/t, 19 metres at 1.61 g/t and 9 metres at 2.37 g/t.
In addition to the mineralistion at the Selin prospect, the Company noted potential deposits at the North Bokoro project.
Cora Gold comments
Jonathan Forster, CEO, stated,
“We are extremely pleased with the results of the infill drilling, which continues to demonstrate potentially economic mineralisation in the near surface oxide portion of the Selin prospect. Infill drilling has provided a good measure of the continuity of gold mineralisation at the Selin prospect with the zone now totalling approximately 2,250m in length with oxide mineralisation extending locally up to 90m at depth. The Selin prospect demonstrates good potential for future extraction through low cost open pit mining and the enhanced knowledge of the continuity of oxide mineralisation significantly justifies a further exploration programme to investigate the deeper sulphide mineralisation.”
“Reconnaissance exploration drilling has confirmed that primary, potentially economic gold structures exist in areas extending away from the Selin prospect and provides guidance for future drilling in these areas. Our regional exploration work is demonstrating that there is still significant further potential available across Sanankoro and Cora’s portfolio.”
The Company’s shares have rallied 2.13% or 0.12p to 6.00p a share 07/08/19 16:30 BST. The Group’s p/e ratio and dividend yield are unavailable, its market cap isb £5.81 million.
Elsewhere in the mining and minerals sector, recent updates have come from; Glencore PLC (LON: GLEN), Jubilee Metals Group PLC (LON: JLP), Kavango Resources PLC (LON: KAV), Ariana Resources plc (LON: AUU), Rio Tinto plc (LON: RIO) and Bushveld Minerals Limited (LON: BMN).