Cora Gold discovers gold deposits on the surface at Sanankoro.
Cora Gold Limited, a gold company based in West Africa, shared an update on its portfolio of gold assets in southern Mali.
The company’s flagship Sanankoro Gold Project is 7km from the Zone A deposit, in previously undiscovered territory.
Results
Certain rock samples yielded gold concentrations of up to 0.85 g/t. The Bokoro II permit’s gold grain counts detected up to 75 observable gold grains in stream samples.
Ground excavation work has been carried out in uncharted sections of the Bokoro II and Bokoro Est licences at the Project, including termite, rock, and channel sampling.
The company said findings warrant further exploration activity on the authorised areas to keep up to date on the preliminary findings.
“Our primary focusis advancing our Sanankoro Gold Project into an open-pittable, free-digging oxide mine as swiftly as possible. To this end, our Definitive Feasibility Study remains on track to be delivered in H1 2022, after which the Company will look to complete both the permitting and financing of the Project. Nonetheless, alongside these critical developments we are committed to maximising the value potential of the Project and our wider portfolio.
“We remain active explorers and are constantly seeking opportunities to build on our existing resources through new discoveries. This recent exploration programme was aimed at identifying prospective new targets to support this goal, and we are delighted with the success it has achieved. Results from the Bokoro II permit are particularly encouraging given its proximity to our main Sanankoro Gold Project, underpinning how extensive the mineralisation at Sanankoro could be. Indeed, all deposits remain open at depth and along strike and we are due to commence a ~7,500m drill programme imminently to improve resource confidence and add further ounces. We look forward to sharing updates on this work programme as they become available,” said Bert Monro, Chief Executive Officer, Cora.
Cora Gold’s shares are trading up 5% to 8p on Wednesday morning.
