Cora Gold (CORA) has announced that an independent review has confirmed a multi-million ounce gold potential for its Sanankoro Gold Discovery in Southern Mali
The review determined an initial Exploration Target of between 30 and 50 million tonnes of gold ore at a grade of between 1.0 and 1.3 g/t Au.
This confirms the Company's internal expectation that Sanankoro has the potential to delineate 1.0-2.0 million ounces to a depth of 100m.
The findings are an indication of the potential for significant further upside at other depth levels.
The company is to commence focused drilling to identify areas of higher grade mineralisation, “which might be suitable as 'starter pits' for any future standalone gold mine”.
Shares in Cora Gold were up 8% on the news to 10p a share following the announcement
Dr Jonathan Forster, Cora's CEO commented “That the Exploration Target of 1.0-2.0 Moz is taken only to a vertical depth of 100m in an environment where depth of oxidation ranges from about 50m to in excess of 100m, suggests that the potential for significant upside remains at depth.”
He added "The review by SRK will now act as a springboard for the next stage of our strategy where we will be seeking to define the strike extent and depth potential of the higher grade zones that the first round of drilling has indicated may exist."
Cora Gold is a new gold exploration company focused on two world class gold regions in Mali and Senegal.
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