Bert Monro, CEO of Cora Gold Limited (LON:CORA) Drill results update

We talk with Bert Monro, CEO of Cora about the recent drill results announced this morning at the Sanankoro project.


Bert Monro, CEO of Cora Gold, commented, “Cora has successfully intersected multiple higher-grade gold intercepts at Sanankoro in its latest drill programme.

This set of results mainly tested continuity of mineralisation at depth, in part below the limit of the existing Resource pit shells. The current Resource has a range of pit depths from about 40-100m so there is significant scope to increase the open pit Resources with further successful drilling.

Cora Gold Limited, the West African focused gold exploration company, is pleased to announce the first drill results from its campaign, which commenced in November 2019 at its Sanankoro Gold Project (“Sanankoro” or “the Project”), Southern Mali. Drilling mainly targeted deeper oxide and sulphide extensions to the Maiden pit constrained Inferred Mineral Resource of 5.0 million tonnes (Mt) at 1.6 g/t Au for 265,000 ounces of gold.

To view the press release with illustrative diagrams and maps, please use the following link:

http://www.rns-pdf.londonstockexchange.com/rns/5414C_1-2020-2-10.pdf

Highlights:

· Results from targeting extensions at depth to the Maiden pit constrained Inferred Resource

o SC241: 2.61 g/t Au over 29m from 82m including;

§ 3.89 g/t Au over 12m in sulphide portion of the hole

o SC246: 4.2 g/t Au over 7m from 101m including;

§ 8.38 g/t Au over 3m

o SC248: 2.05 g/t Au over 14m from 61m including;

§ 3.31 g/t Au over 7m

o SC248: 1.08 g/t Au over 18m from 84m

o SC250: 1.68 g/t Au over 4m from 137m, hole ended in mineralisation

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· Further results from additional drilling at Sanankoro anticipated in the coming weeks

Bert Monro, CEO of Cora Gold, commented, “Cora has successfully intersected multiple higher-grade gold intercepts at Sanankoro in its latest drill programme. This set of results mainly tested continuity of mineralisation at depth, in part below the limit of the existing Resource pit shells. The current Resource has a range of pit depths from about 40-100m so there is significant scope to increase the open pit Resources with further successful drilling.

“Our recently announced Scoping Study, which was calculated on our current Maiden pit-constrained Inferred Mineral Resource of 5Mt at 1.6 g/t Au for 265,000 ounces of gold, highlighted the attractive economic returns possible at Sanankoro including a high IRR of 84% and short capex payback of 18 months. We look forward to announcing further results from this drilling programme covering predominantly potential extensions to existing Resources.”

Ful update; www.share-talk.co.uk/announcements/rns


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