Cora Gold Ltd announced a 14% increase to its revised mineral resource estimate at the Sanankoro gold project in southern Mali.
EXPLORATION
The company also reported a 22% increase in oxide indicated mineral resources from 419koz to 509koz.
Cora added that the MRE, at a cut-off grade of 0.4 g/t gold, comprised 24.9 Mt of material at a grade of 1.15 g/t gold, of which 16.1 Mt are indicated mineral resources and 8.7 Mt are inferred for a total 920 koz gold.
Of this, 657 koz at 1.27 g/t gold is indicated, and 263 koz at 0.94 g/t gold is inferred.
The new MRE follows completion of the 2022 drill programme and builds on the previous MRE from November 2021.
The programme’s main focus was to add oxide indicated ounce to enhance the reserve potential in the definitive feasibility study due to complete during Q3 2022.
“The programme, from a limited drill metre-age while we focused on the DFS, had a very good conversion from inferred to indicated which also bodes well for future infill programmes on the 263kozs of inferred material,” said chief executive Bert Monro.
“The new discoveries in close proximity to existing resources, found during this year’s exploration programme, 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 permit area.”