Cora Gold CEO Bert Monro spoke to London South East and talked us through the newly released Mineral Resource Estimate for Sanankoro Gold Mine in Southern Mali. Bert said he was delighted with the results from the 40,000 drill programme which have resulted in a 200% increase to the resource estimate.
A higher proportion of the 809,000 ounces of gold estimate is in the higher indicated resources category, "with 550,000 ounces there, which is what you need to convert into Reserves, and also a very good conversion of free-digging oxide materials as well."
"We want to move the project into construction and into production as quickly as we can. The benefit of oxide material is that you don't need to drill and blast it, you can scoop it up with a digger and you can process it more cheaply than you can fresh rock, which is the whole strategy."
"In terms of drilling, 77% of our material is in oxides, with another 22% of our material in a transitional zone which is part oxide and part fresh, so yes, it ticked all the boxes we were hoping for " said Bert.
And Bert confirmed the the earliest date the DFS could be released would be late April or the beginning of May all being well, as lots of work still needs to be done. Bert also confirmed the Mine Life has increased from 3-4 years to 7-8 years of Mine Life "and will comfortable go into the teens in terms of total years of production as we have a huge amount of growth beyond our current reserves."
Cora Gold (CORA)