Cora Gold Ltd said it had been re-awarded the Farassaba III permit for nine years at its gold exploration project in western Mali.
The permit, which was re-awarded on the 12 February 2021, covers the same area of 93km2 as the expired permit.
It comprises part of the 300km2 group of four permits collectively known as Cora’s Yanfolila Project Area.
The area is located around the Yanfolila gold mine belonging to Hummingbird Resources plc.
The permits range between 8km-30km in distance from the mine’s processing plant.
“Farassaba III is one of four Cora permits that surround the operating 2Moz Yanfolila gold mine,” said Cora Gold’s chief executive Bert Monro.
“The permits range from only 8km from the processing plant up to around 30km away so are within possible trucking distances if economic discoveries are proven on the permits.
“Cora has had some exciting drill results across this portfolio of permits and looks forward to completing further exploration on the ground during 2021.”
PROJECTS
Cora Gold is focused on two regions in Mali and Senegal in West Africa, namely the Yanfolila Gold Belt in south Mali; and the Kédougou-Kéniéba Inlier gold belt, also known as the Kenieba Window, in west Mali / east Senegal).
The company’s primary focus is on developing Sanankoro in the Yanfolila gold belt (southern Mali), which Cora believes has the potential to be a standalone mine development.
On 10 February, Cora identified a series of new surface gold discoveries from satellite imagery and surface prospecting programmes at the property.