Cora Gold has announced a new surface gold discovery at the Group’s flagship Sanankoro Gold Project (‘Sanankoro’ or the ‘Project’) in southern Mali, in previously unexplored areas 7km from the Zone A deposit.
While management retains its primary focus of advancing the Project into an open-pittable, free-digging oxide mine as swiftly as possible, it nevertheless continues to seek opportunities to build on existing resources through new discoveries. Given the Bokoro permit’s close proximity to the flagship asset, the fact that selected rock samples have delivered assay results up to 0.85 g/t gold (‘Au’) serves well to highlight just how extensive the mineralisation at Sanankoro could ultimately prove to be.
Indeed, the scale and economics of the principal asset, which is due to be defined in a fully-funded definitive feasibility study (‘DFS’) during H1 2022, might be seen as just a first step. Irrespective of this, the 200% increase in its total JORC 2012 mineral resource estimate, to 809,300 ounces of gold, at a grade of 1.15g/t Au, released on 16 November 2021, is expected to demonstrate a significant economic improvement on those published in the 2020 scoping study that returned an NPV8 of US$30.9 million (£23.3m) and an IRR of 84%.
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