Cora Gold Limited New Gold Discoveries at Sanankoro Gold Project (5385O)
10 February 2021 - 6:00PM
UK Regulatory
TIDMCORA
RNS Number : 5385O
Cora Gold Limited
10 February 2021
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector:
Mining
10 February 2021
Cora Gold Limited ('Cora' or 'the Company')
New Gold Discoveries at Sanankoro Gold Project
Cora Gold Limited, the West African focused gold company, is
pleased to announce a series of new surface gold discoveries from
satellite imagery and surface prospecting programmes at the
Sanankoro Gold Project ('Sanankoro'), on the Yanfolila Gold Belt in
southern Mali. Additionally, the Company is delighted to announce
the award of a new Convention agreement, one of the first under the
new mining code, with respect to the Sanankoro Permit area.
Highlights:
-- Three new mineralised structures identified
o +4km trend of new surface workings identified at Selin
-- Selin is the largest and highest-grade deposit at Sanankoro
-- New x-ray fluorescence ('XRF') work has defined a clear
strong Au:As:W signature which will facilitate fast-tracking
additional Selin-styled diorite-host resource targets
o +8km trend of surface workings identified West of C Zone -
Bokoro West Trend, on newly identified Bokoro Far West Trends
-- Two new trends of surface workings identified east of the Sanankoro Main Trend South
o +3km north-eastern extension of Dako II Main discovery
-- A new prospect located on Dako II Far East Trend
-- Over 900 samples have been collected and panned to identify these discoveries
-- Follow up drilling is now planned on these discoveries with
the Company's Dando rotary airblast ('RAB') rig during Q1 and Q2
2021
Bert Monro, CEO of Cora Gold, commented, "These new discoveries
will be ordered and prioritised accordingly and fed into the
drilling pipeline at Sanankoro. The fact the team on the ground is
continually making new discoveries bolsters our confidence in the
Sanankoro resources growing significantly over time with further
drilling. We look forward to following up these discoveries with
drilling in the near future."
To view the RNS with illustrative maps and diagrams please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5385O_1-2021-2-9.pdf
Convention Agreement
On 29 January 2020 the Company was awarded a Convention
d'Établissement in respect of the area covered by the Sanankoro
Permit which expired, in accordance with the Mining Code, on 1
February 2020. The Convention d'Établissement is one of the first
to be awarded under Mali's new Mining Code which was introduced in
September 2019. A Convention d'Établissement sets out the
administrative, legal and fiscal framework under which the permit
holder will operate when working on the relevant area. Cora looks
forward to announcing the award of the related new permit in due
course, once the necessary process set out in the Mining Code has
occurred. This will subsequently complete the permitting
process.
Competent persons statement: Norman ('Norm') Bailie has
sufficient experience relevant to the style of mineralisation and
type of deposit under consideration, and to the activity which he
is undertaking to qualify as a Competent Person in accordance with
the guidance note for Mining, Oil & Gas Companies issued by the
London Stock Exchange in respect of AIM Companies, which outlines
standards of disclosure for mineral projects. Norm Bailie consents
to the inclusion in this announcement of the matters based on his
information in the form and context in which it appears.
Market Abuse Regulation ('MAR') Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
For further information, please visit http://www.coragold.com or
contact:
+44 (0) 20 3239
Bert Monro / Norm Bailie Cora Gold Limited 0010
Christopher Raggett finnCap Ltd +44 (0) 20 7220
/ Charlie Beeson (Nomad & Joint Broker) 0500
Turner Pope Investments +44 (0) 20 3657
Andy Thacker (Joint Broker) 0050
Megan Dennison / Susie St Brides Partners +44 (0) 20 7236
Geliher (Financial PR) 1177
Notes
Cora Gold is a gold 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's primary focus is on further
developing Sanankoro in the Yanfolila Gold Belt (Southern Mali),
which Cora believes has the potential for a standalone mine
development. Sanankoro has a positive Scoping Study published on it
showing an 107% IRR and US$41.5m NPV(8) at a US$1,500 gold price.
Cora's highly experienced management team has a proven track record
in making multi-million-ounce gold discoveries, which have been
developed into operating mines.
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END
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