Cora Gold is advancing the Sanankoro Gold Project, located in Southern Mali, towards production with construction anticipated to commence in 2022.
The scale and economics of the potential mine are expected to be defined in a fully-funded definitive feasibility study, which is already underway and is due for completion in H122. Given the recent 200% increase in the total JORC 2012 mineral resource estimate, to 809,300 ounces of gold, at a grade of 1.15g/t Au, it is likely that the definitive feasibility study economics will be a significant 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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