1st May 2018 12:52
LONDON (Alliance News) - Shares in Cora Gold Ltd jumped on Tuesday as the company reported two new gold zones at the Tekeledougou permit in southern Mali.
Cora's shares were trading at 15.70 pence each Tuesday, up 34%.
The results, coming from Cora's maiden Tekeledougou drilling programme, showed gold zones at Woyoni and Kouroudian.
At Woyoni, Cora's results included 56 metres at 2.2 grammes of gold per tonne of ore including 22 metres at 4.9 g/t gold. Drilling, Cora said, confirmed a strike length of at least 250 metres and it is open in all directions.
The company discovered 17 metres at 6.8 g/t gold at Kouroudian including 1 metre with 102 g/t gold. Drilling revealed a strike length of around 500 metres and there is "clear" potential for this to extend over a kilometre, and the strike is also open in all directions.
Cora said cyanide bottle roll assays show potential gold recoveries of between 91% and 96%.
Chief Executive Jonathan Forster said: "These are exciting new gold discoveries and hold great promise for further development. Some excellent grades and widths, a deep weathering profile which signifies the potential for lower cost mining, and both discoveries' proximity to an operational processing plant underpin the outstanding potential which we see at Tekeledougou.
"I look forward to promptly pursuing these discoveries, with follow up infill and extensional RC programmes being planned, as well as some core drilling to help understand the new systems."
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