Cora Gold Ltd has extended its land holdings with a joint venture on the Farani permit which lies within the miner’s Yanfolila Project Area, southern Mali.
The permit covers 62 km2 and is next to Cora’s 100% owned Tagan permit, which in turn lies halfway between the company’s Sanankoro gold project and the Yanfolila gold mine operated by Hummingbird Resources plc.
Historical third-party rotary airblast (RAB) drilling results at Farani include 30m @ 2.8 g/t Au; 9m @ 1.17 g/t Au; and 6m @ 2.1 g/t Au.
Cora said it was earning up to 95% interest through the payment of staged fees to its JV partner totalling US$80,000 over the next six years.
The Farani permit was awarded on 14 May 2021 and has a term of nine years.
The miner added that this week’s coup in Mali had not affected the Sanankoro project but the company would continue to ensure the safety of all its employees.