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Cora Gold Ltd.
Summary
| Project: | Sanankoro | |
|---|---|---|
| Deposit: | Sanankoro | |
| Location: | Mali | |
| Commodities: | Gold | |
| Date: | 2/11/2020 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-2-2020: Cora Gold Ltd. announces an Exploration/Drilling Update report for its Sanankoro deposit at the Sanankoro project. Drilling results incl. 29m @ 2.61g/t Au from 82m. Cora Gold Limited, the West African focused gold exploration company, is please | |
| Resources: | (Resource, Inf.): 5.0Mt @ 1.6g/t Au | |
| CP/QP: | [Overall Report]: Jonathan Forster (Not stated) | |
| ABSTRACT: | Cora Gold Limited, the West African focused gold exploration company, is pleased to announce the first drill results from its campaign, which commenced in November 2019 at its Sanankoro Gold Project ("Sanankoro" or "the Project"), Southern Mali. Drilling mainly targeted deeper oxide and sulphide extensions to the Maiden pit constrained Inferred Mineral Resource of 5.0 million tonnes (Mt) at 1.6 g/t Au for 265,000 ounces of gold. Bert Monro, CEO of Cora Gold, commented, "Cora has successfully intersected multiple higher-grade gold intercepts at Sanankoro in its latest drill programme. This set of results mainly tested continuity of mineralisation at depth, in part below the limit of the existing Resource pit shells. The current Resource has a range of pit depths from about 40- 100m so there is significant scope to increase the open pit Resources with further successful drilling. “Our recently announced Scoping Study, which was calculated on our current Maiden pit-constrained Inferred Mineral Resource of 5Mt at 1.6 g/t Au for 265,000 ounces of gold, highlighted the attractive economic returns possible at Sanankoro including a high IRR of 84% and short capex payback of 18 months. We look forward to announcing further results from this drilling programme covering predominantly potential extensions to existing Resources.” | |
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