4th Nov 2019 15:02
(Alliance News) - Cora Gold Ltd on Monday said the results from its most recent work programme at its Sanankoro gold discovery, southern Mali, confirmed the potential for higher gold grades at multiple zones.
Sanankoro has an independently determined exploration target of between one to two million ounces of gold.
The AIM-listed exploration company said the recent work programme included over 6,000 metres of aircore and reverse circulation drilling, and over 600 metres of core drilling. In total, there is around 30 kilometres of mineralised structures across the Sanankoro permit area that form the exploration target, Cora said.
"This work has generated positive results, consistently demonstrating the continuity of the mineralisation with economic potential," explained Chief Executive Jonathan Forster.
By zones, an infill drilling programme was undertaken at Selin, which demonstrated that identified mineralisation correlates with the results from earlier programmes. In addition, the host mafic unit continues to be identified and a new oxide gold zone was discovered.
At Zone A, a wide zone of gold mineralisation has been identified, Cora said, while at Zone B, Cora said it has reduced drilling due to access issues across the central part of the zone caused by historical artisanal workings.
Zone B North surface exploration indicators, meanwhile, suggested that the exploration potential for the gold zone extends for at least an additional 2,500 metres, Cora highlighted.
"We believe that the scale of the structure at Sanankoro is substantial given that drilling to date has only focussed on oxides over less than 20% of the potential mineralised structures on the permit area. Accordingly, we look forward to advancing our fourth quarter work programme to support this belief," added Forster.
Cora shares were trading 3.8% higher in London on Monday at 6.85 pence each.
By Evelina Grecenko; [email protected]
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