West African focused gold exploration company Cora Gold Limited (AIM: CORA) has successfully extended the mineralised zone at its Sanankoro Gold Project in the Yanfolila Gold Belt of Southern Mali.
Announcing the final drilling results from its Q4 2019 programme at Sanankoro, Cora said that as expected gold zone was intersected in the final two holes at vertical depths of about 120m in sulphide
Highlights of the six holes, 837m programme of core drilling at Zone A and B on the Sanankoro structure included:
Zone A
- 4m @ 1.41g/t Au in hole; and
- 4m @ 1.28g/t
Zone B
Gold zones intercepted between currently defined resources demonstrating continuity of mineralisation over a length of some 1,500m
- 3m @ 2.04g/t;
- 9m @ 44.6g/t;
- 3m @ 5.16 g/t; and
- 5m @ 1.74g/t.
CEO, Bert Monro, said Cora is focused on further developing Sanankoro’s potential for a standalone mine development.
The company recently published a positive Scoping Study on it showing an 84% IRR at a US$1,400 gold price.
“These are the final round of drilling results from this work programme, following on from two previous sets of drilling results on the Sanankoro Gold Project,” Mr Monro said.
“We are pleased that the combined results have identified significant scope to extend resources both at depth and along strike.
“These latest results, including 3m @ 5.16 g/t Au and 13m @ 1.41 g/t Au (with approximately 14% of sample not recovered within the mineralised interval), are further signs of our confidence in the Project.
“Having recently announced a £2.89 million conditional fund raise, we have the capital available to continue to move Sanankoro forward with an initial focus on resource growth and then in time further study work.”
