Interim Results for the Six Months Ended 30 June 2021
Cora Gold Limited, the West African focused gold company, is pleased to announce its unaudited interim results for the six months ended 30 June 2021.
Highlights
● H1 2021 was a period of intense activity with the launch of an expanded +40,000m drill programme at the Sanankoro Project:
○ Dual focus on targeting resource growth as well as infill drilling to convert existing Inferred resources to Indicated category
○ Results to date have been extremely encouraging with good widths and high-grades in generally shallow oxides ore
○ Previously released drill results include:
▪ 49m @15.55g/t Au (incl 8m @ 89.12g/t Au)
▪ 19m @ 31.56g/t Au (incl 6m @ 95g/t Au)
▪ 2m @ 146.43g/t Au
▪ 32m @ 7.83g/t Au (incl 4m @53.86g/t Au)
▪ 56m @ 3.54g/t Au (incl 21m @ 8.17g/t Au)
▪ 8m @ 19.11g/t Au
▪ 32m @ 4.43g/t Au
▪ 21m @ 5.57g/t Au
▪ 14m @8.54g/t Au
▪ 54m @ 2.07g/t Au (incl 2m @ 17.71g/t Au)
▪ 66m @ 1.58g/t Au)
● Advancing updated Mineral Resource Estimate in H2 2021 and Definitive Feasibility Study in H1 2022
● Continued strong support from investors and existing shareholders demonstrated through participation in a fundraising for in excess of £3.13 million in June 2021.
● Cash at end of June 2021 of US$5.7m
Bert Monro, Chief Executive Officer of Cora, commented: “The first six months of this year have been particularly active for the Company, with significant progress made towards our Definitive Feasibility Study (‘DFS’) at our flagship Sanankoro Gold Project in Mali. During the year-to-date, Cora has undertaken its largest ever drilling campaign at our key Sanankoro asset, which has returned consistently strong results across all target areas.
“Following the recently updated term sheet with Lionhead Capital, Sanankoro is further de-risked and its future development is well supported. The extremely encouraging results from our drilling at Sanankoro also brings us closer to the updated mineral resource estimate once all of the results of the campaign are received later this year. DFS work is now gaining momentum and we expect to publish this in H1 2022.
“I am incredibly grateful for the efforts of our onsite team in Mali to deliver these excellent results, and for the support of the board and management. I would also like to thank our shareholders for their continued support and I look forward to providing further updates to the market on our developments over the coming months.
“This has been a very exciting period for Cora Gold with a significant number of landmark events achieved as we transition from explorer to producer over the coming years.”
The Company’s unaudited interim results for the six months ended 30 June 2021 will be made available on the Company’s website at http://www.coragold.com/category/company-reports.
Market Abuse Regulation (‘MAR’) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.
For further information, please visit http://www.coragold.com or contact:
Bert Monro / Norm Bailie
Cora Gold Limited
+44 (0) 20 3239 0010
