 is soaring on Wednesday, up by 37.50% heading into the afternoon session as the gold-focused company announced its latest drilling results.){kind=link}
Cora Gold Share Price
The Cora Gold share price (LON:CORA) is soaring on Wednesday, up by 37.50% heading into the afternoon session as the gold-focused company announced its latest drilling results. It is the first price move of such a sudden nature in approximately a year as the Cora Gold share price has been trading sideways since the beginning of 2021. Year-to-date the AIM-listed firm is up by 25%, largely down to the move today, which followed on from the announcement from its Sanankoro Gold Project in the south of Mali.
Drilling Results
Cora Gold found a “world class intersection” while drilling at the Sanankoro gold project in Southern Mali.
The company said it has been encouraged by its results to date with good widths and high-grade results in generally shallow oxides ore.
The company said that results at Zones A and C further reinforce the mineable quality of the Sanankoro gold structures. Highlights from Zone A include 19m @ 31.56 g/t Au from 65m, while the intercept began 50m below existing pit shell at Zone A.
At Zone C it reported 14m @ 8.54 g/t Au from 115m, in addition to three other intercepts.
Bert Monro, CEO of Cora, expressed delight at the results which caused the Cora Gold share price to rocket: “This drill programme continues to go from strength to strength. 19m @ 31.56 g/t Au is by far the most significant drill hole that Cora has ever drilled. This hole sits outside the existing inferred resource pit shell, starting 50m deeper than the current resource pit shell, so offers even greater upside to the Sanankoro Gold Project. This programme is continuing to deliver very high-grade oxide drill results from shallow depths, offering significant economic potential for the upcoming resource and DFS.”
“Zones A and C were historically lower grade than Selin, but these results demonstrate that there is potential for better grades in these deposits. The Company is aiming to complete the 35,000m drill programme over the next month with a resource update due to follow once all the assay results have been received.”
There could be further news on the Cora Gold share price once this has taken place.