Cora Gold Ltd said it had received some of its best results of 2022 from its Sanankoro project in southern Mali.
The company added it had also “substantially completed” the component parts of the definitive feasibility study (DFS).
RESULTS
Final reverse circulation (RC) drilling returns from the 2022 drill programme include
12m @ 7.61 g/t Au from 18m in hole SC0639 at Selin South
13m @ 4.97 g/t Au from 61m in hole SC0650 at Zone B North
14m @ 2.00 g/t Au from 64m in hole SC0640 at Selin South
11m @ 2.42 g/t Au from 120m in hole SC0648 at Selin South
12m @ 2.08 g/t Au from 49m in hole SC0636 at Selin South
13m @ 1.90 g/t Au from 18m in hole SC0637 at Selin South
4m @ 6.34 g/t Au from 26m in hole SC0658 at Target 6
RESOURCE
The drill programme comprised 11 air core (AC) shallow holes for 897m and 78 RC holes for a total of 6,992m (4,958m at Zone B North; 1,092m at Selin South, 504m at Fode 1 and 438m at Target 6).
Cora said that drilling successfully targeted converting existing inferred mineral resources to indicated mineral resources, and identified new discoveries at Fode 1 and Target 6, close to existing mineral resources
The company now intends to revise its mineral resource estimate (MRE) for Sanankoro.
DFS AND ESIA
Cora added it would incorporate a revised MRE into the mining study for the DFS, now due for completion in Q3 2022.
The environmental and social impact assessment (ESIA) is scheduled for completion “imminently and submission to commence environmental permitting process will happen in the coming weeks”.
MINE LIFE
Chief executive Bert Monro said that the positive results gave the company confidence to revise the MRE with the addition of mineable ounces to grow ore reserve in the DFS.
“As we have been encouraged by the drilling results we believe they should be reflected in the DFS and, as such, we hope to add mine life to the upcoming Sanankoro DFS.”