TPI provides its latest research note on Cora Gold Limited (CORA.L).

Cora has announced very promising first drill results from its largest-ever campaign, including 34m @ 1.98 g/t Au from 13m depth and 52m @ 1.78 g/t Au from 20m depth.

The intercepts reported equate to the first 817m of the total budgeted total 35,000-metre drill programme at its Sanankoro Gold Project (‘Sanankoro’ or ‘the Project’) in Southern Mali, that is expected to be completed by the end of July 2021. Having started in March 2021, this represents just the initial 15% of the Selin Phase 1 programme planned and completed targeting the shallow oxides and emphasises the potential of the deposit.

Given that drilling is due to ramp over the next month with the commencement of a 2,500m diamond core programme in May along with the arrival of a second RC rig around the same time, investors should anticipate significant continuing news flow between now and end-Q3 2021.

With the dual focus of targeting resource growth as well as infill drilling to convert existing resources from Inferred to Indicated category, the Company is expected to move rapidly toward updating its mineral resource estimate once the drill programme has been completed.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Cora Gold Limited. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.


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