• November 8, 2022

Exploration Target Estimates announced by Cora Gold

Published on November 8th, 2022

Cora Gold Limited, the West African focused gold company, has announced the results of an exploration target estimate for the company’s wider Sanankoro Gold project in Southern Mali completed by independent consultancy CSA Global.

The exploration target, based on data from historical drill programmes and other exploration activity, defines the mineralised potential of the areas currently drilled at Sanankoro. Further exploration potential is still considered likely due to limited exploration activity outside of the known structures hosting the Indicated and inferred mineral resources.

Highlights:

The exploration target for Sanankoro is estimated to contain between 26 million t and 35.2 million t with a grade range of 0.58 g/t Au to 1.21 g/t Au for a potential content of 490 koz Au to 1370 koz Au.

The exploration target is in addition to the Indicated and inferred mineral resource of 24.9 million t at 1.15 g/t Au for 920 koz announced on 19 July 2022.

In total, 12 areas comprise the exploration target, with three areas responsible for over 50% of the exploration target, these being Target three, Target five & six and Selin-Bokoro west extension.

Oxide and transitional material make up 90% of the exploration target.

The exploration target will form the basis of future drill programmes to expand the recently published July 2022 mineral resource estimate.

The exploration target was focused on brownfield areas within 8 km of the existing mineral resource and was predominantly estimated using drill data.

Bert Monro, Chief Executive Officer of Cora, commented:

“This exploration target, focused on brownfield areas at Sanankoro, all within 8 km of existing deposits, is clear evidence of our opportunity to considerably expand our mineral resource over time. The exploration target shows the uplift potential for an additional 1.37 million oz of gold over and above our existing 920 koz mineral resource at Sanankoro. This exploration target will be used as part of our planning of future exploration programmes as we look to grow our flagship Sanankoro Gold project.

Map Description automatically generated with medium confidence

Figure 1:  Map showing the locations of the deposits and discoveries at the Sanankoro Gold Project

Read full Announcement

SOURCE: Cora Gold Limited
DATE: November 7, 2022

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