Cora Gold Ltd reported potential for large-scale gold mineralisation from reconnaissance reverse circulation drill results on its Madina Foulbé exploration permit in East Senegal.
ZONE
The permit holds four key target areas and lies within the Kenieba project area.
In May the company completed drilling 40 shallow RC holes for 2,018m on the Tambor gold anomaly, testing 10 of the most prospective targets.
Cora said that that six of the 10 targets drilled, totalling 28 of the 40 holes, intersected mineralisation over broad widths, with further follow-up needed.
Best results include 10m @ 4.41g/t gold from 41m in hole MFC0013 at target 1. All six holes on the target encountered broad mineralisation, “indicating the presence of a 60m wide zone, which remains open in all directions, including at depth”.
More than 50% of holes drilled ended in mineralisation, with an average hole length of just 50m.
The company awaits multi element assays to plan follow-up exploration targeting “higher grade and broader zones of mineralisation”.
Chief executive Bert Monro added that, with further exploration, the results gave “good confidence” to define resources in the future.
“Up until this point Madina Foulbé has been largely untested, so with six of our ten high priority targets confirming gold mineralisation, we are pleased with the results received from what was a first pass reconnaissance programme.”
The project lies close to several operating mines and “excellent” infrastructure within a mining friendly jurisdiction.