4th Aug 2021 11:43
(Alliance News) - Cora Gold Ltd on Wednesday noted "extremely encouraging" high-grade drilling results at its Sanankoro gold project in Southern Mali.
The West African-focused gold company said it has intersected strong mineralisation in the Selin deposit including significant grade and horizontal, near-surface widths.
Cora Gold shares were up 43% on Wednesday in response to the news, trading at 16.45 pence in London. The stock is up 80% so far in 2021.
Among the drilling highlights, the company discovered 49 metres at 15.55 grams of gold per tonne and 32 metres at 7.83 grams of gold per tonne.
"Even more significantly, the objective of this drilling has been to extend the existing 65 metre average depth pit shells at Selin deeper, and these initial results provide a great deal of encouragement as we target an updated resource at the end of this programme," said Chief Executive Bert Monro.
Cora Gold has drilled 277 holes over 30,923 metres in its current campaign by the end of July.
As the drilling campaign continues, the company said it remains focused on target resource growth and infill drilling, to convert inferred resources to indicated ones.
By Scarlett Butler; [email protected]
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