Cora Gold Ltd said it was making excellent progress with the definitive feasibility study (DFS) ahead of £25 million funding for the Sanankoro gold project in southern Mali.
WORK PROGRAMME
Cora added that hydrogeological and geotechnical drilling programmes, as well as geotechnical test pits, have begun on site which lies in the Yanfolila gold belt.
The site layout is developed to include process plant and tailings storage facility (TSF) locations, with geophysics work on the TSF facility completed.
Metallurgical test work of samples is due to be completed during Q1 2022 and waste rock samples have been sent for geochemical analysis.
Cora expects to complete the environmental and social impact assessment (ESIA) during H1 2022 and the DFS by end of H1 2022.
EXPECTATIONS
Chief executive Bert Monro said that the company had reached various milestones in the DFS process.
“We are making excellent progress in advancing the DFS at Sanankoro, which when completed, will unlock the US$25 million Lionhead Capital funding to support the construction of the mine.
“The recently updated mineral resource estimate exceeded our expectations and set up strong foundations for the mining study to be completed on with a high conversion to indicated oxide material.”