Cora Gold upbeat on latest work at Sanankoro
West Africa-focussed gold exploration company Cora Gold updated the market on its latest work programme at the Sanankoro Gold Discovery in the Yanfolila Gold Belt of Southern Mali on Tuesday, reporting that its 5,000 metre drilling programme had started, with completion during the fourth quarter.
The AIM-traded firm said the programme was designed to further investigate the sulphide and deep oxide potential below known mineralisation at key prospects, and extend the existing and potential new shallow oxide targets.
It said its exploration team had been re-mobilised to Sanankoro over the last month, following the wet season, and added that the drilling to date had covered less than 25% of the exploration target area of between one and two million ounces.
“In what has been an excellent exploration year so far, with our objective of defining higher grade zones at Sanankoro having been met as well as good indicators now pointing to sulphide potential, we look forward to the final phase of exploration for 2019,” said Cora Gold chief executive officer Jonathan Forster/
“With the objective of better understanding the potential beneath the base of the oxide mineralisation, and in addition starting to look to expansion of the oxide potential, we see the work as being likely to supplement the guidance on future development.”
At 1126 GMT, shares in Cora Gold were down 2.67% at 5.48p.