Cora Gold Ltd announced it had made a new surface gold discovery at its flagship Sanankoro project in southern Mali.
DISCOVERY
The find is on previously unexplored areas 7km from the Zone A deposit.
The company said that gold assay results from selected rock samples returned up to 0.85 g/t gold.
Grain counts from channel samples in the Bokoro II permit returned up to 75 visible gold grains.
Cora has also conducted ground exploration work including termite, rock and channel sampling in unexplored areas of the Bokoro II and Bokoro Est permits.
The company is soon due to start a 7,500m drill programme to improve resource confidence and add further ounces.
DEFINITIVE FEASIBILITY STUDY
Chief executive Bert Monro added that the company’s primary aim was to advance the Sanankoro project into an open-pittable, free-digging oxide mine as swiftly as possible.
“To this end, our definitive feasibility study [DFS] remains on track to be delivered in H1 2022, after which the company will look to complete both the permitting and financing of the project.”
The company has a US$25 million term sheet with Lionhead Capital to fund the project’s development after the DFS.