11th Feb 2020 12:02
(Alliance News) - Cora Gold Ltd said Tuesday it has found multiple higher-grade gold intercepts at its Sanankoro gold project in southern Mali.
The West-Africa focused gold exploration company said drilling mainly targeted deeper oxide and sulphide extensions to the current inferred mineral resource of 5.0 million tonnes, which has a grade of 1.6 grams per tonne of gold, containing 265,000 ounces of gold.
The company said drilling results included 2.61 grams of gold over 29 meters, including 3.89 grams of gold over 12 meters in a sulphide portion of the hole.
Further results from additional drilling are anticipated in the coming weeks, Cora noted.
Bert Monro, chief executive, said: "This set of results mainly tested the 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 metres to 100 metres so there is significant scope to increase the open pit resources with further successful drilling," Monro said.
Cora shares were trading 1.3% lower in London at 5.80 pence each on Tuesday.
By Loreta Juodagalvyte; [email protected]
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