Cora Gold Limited Drill Rig Mobilisation to Sanankoro Gold Discovery (2428L)
21 December 2018 - 6:00PM
UK Regulatory
TIDMCORA
RNS Number : 2428L
Cora Gold Limited
21 December 2018
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector:
Mining
21 December 2018
Cora Gold Limited ("Cora", "Cora Gold" or "the Company")
Drill Rig Mobilisation to Sanankoro
Cora Gold Limited, the West African focused gold exploration
company, is pleased to announce the mobilisation of a multipurpose
drill rig to recommence its drill programme at the Sanankoro Gold
Discovery in Southern Mali ("Sanankoro" or "the Project").
To view this announcement with illustrative images, please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/2428L_1-2018-12-21.pdf
Overview:
-- Targeted drill programme to involve a 3,000m aircore ("AC") /
reverse circulation ("RC") and 200m core drilling at Sanankoro
-- Infill aircore/RC drilling at the Selin and Zone A prospects
with the objective of continuing to define higher-grade zones
-- Previous drilling highlights (see RNS announcements dated 4 June 2018; 26 July 2018) include:
o 2.53g/t Au over 34.8m at Zone A
o 2.41g/t Au over 52m and 3.54 g/t Au over 32m at the northern
end of the Selin prospect
-- Drill targets determined by results of previous drill
programmes from 2017/2018 dry season where an Exploration Target
for Sanankoro of 1-2 million ounces with significant material
upside was independently determined by consultants SRK Consulting
(UK) Limited (see RNS dated 15 October 2018)
-- Core drilling will provide further geological information on controls to gold mineralisation
-- Drill programme is anticipated to be completed in Q1 2019 and
will also include a collection of samples for preliminary
metallurgical testing
-- In addition, Cora Gold has mobilised a small rotary air blast
("RAB") drill rig to Sanankoro which is planned to commence
drilling short (approximately 40m length) reconnaissance holes
early in Q1 2019
-- The RAB rig will be operated by Cora and provides a low cost,
first pass drilling option that can readily move across project and
prospect sites identifying new targets for follow up by AC/RC
drilling
Jonathan Forster, Chief Executive Officer of Cora, said:
"Following our recent successful fundraise we have swiftly begun
preparations to continue our drill programme at Sanankoro with a
view to unlocking the significant value potential in the Project.
Following the mobilisation of the drill rig, our work programme
will commence immediately to begin delineating gold mineralisation
in areas anticipated to have potential for higher grades, focusing
predominantly in the oxide horizons, which will act as
"starter-pits" for any possible future mining operations. I look
forward to updating our shareholders in the New Year regarding the
Project's development."
Figure 1: Gold intersections from previous drilling at the Selin
Prospect.
(Note - SC 124 3.5/32m refers to previous drill hole number and
g/t grade over drilled interval in metres)
Figure 2: Gold intersections from previous drilling at Zone A
Prospect, Sanankoro Structure.
(Note - previous drill intersections are shown with g/t grade
over drilled interval in metres)
Figure 3: Overview of the Sanankoro Gold Discovery from the
Company's corporate presentation
**ENDS**
For further information, please visit http://www.coragold.com or
contact:
+44 (0) 20 3239
Jon Forster Cora Gold 0010
Ewan Leggat / Charlie SP Angel (Nomad & Joint +44 (0) 20 3470
Bouverat Broker) 0470
Peter Krens / Nick Mirabaud Securities +44 (0) 20 3167
Orgill (Joint Broker) 7150
Lottie Wadham / Gaby St Brides Partners (Financial +44 (0) 20 7236
Jenner PR) 1177
Notes to the Editors
Cora Gold is a gold exploration company focused on two world
class gold regions in Mali and Senegal in West Africa. Historical
exploration has resulted in the highly prospective Sanankoro Gold
Discovery, in addition to multiple, high potential, drill ready
gold targets within its broader portfolio. Cora Gold's primary
focus is on further developing Sanankoro in the Yanfolila Gold Belt
(South Mali), which Cora Gold believes has the potential for a
standalone mine development. Cora Gold's highly experienced and
successful management team has a proven track record in making
multi-million ounce gold discoveries which have been developed into
operating mines.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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