Cora Gold Ltd recorded an increase in losses as it progressed its Sanankoro project in the Yanfolila gold belt, southern Mali.
FINANCES
The company’s interim results for the six months ended 30 June 2022 showed losses of US$954,000 (H1 2021: $716,000).
Cash and equivalents fell to $2,022,000 (H1 2021: $5,676,000).
OPERATIONS
During H1 2022, Cora completed a drill programme at Sanankoro, focusing on converting additional ounces from the inferred to the indicated category, resulting in a revised mineral resource estimate.
The company is working on a definitive feasibility study (DFS) due for completion during Q3 2022.
POTENTIAL
“New discoveries made during H1 2022 in close proximity to existing resources at Sanankoro also show that there is plenty of potential to find new deposits in the future as we remain in the early stages of developing the exploration potential across the Sanankoro area,” said chief executive Bert Monro.
Cora has three main de-risked project areas covering 1,000km2 within two known gold belts in Mali and Senegal.