Cora Gold Share News (CORA)

(Sharecast News) - West Africa-focussed Cora Gold announced the fifth set of drill results, and the first from Zone A, from its largest ever drilling campaign at the Sanankoro Gold Project in southern Mali on Wednesday.
The AIM-traded firm said it planned to have drilled up to a total 35,000 metres by the end of July, with a dual focus on targeting resource growth as well as infill drilling to convert existing inferred resources to indicated.

It said the new drill results at Zone A confirmed good widths and grades in oxide ore, with 29 metres at 3.23 grams of gold per tonne from 66 metres in hole SC0365, and 32 metres at 1.63 grams per tonne from 32 metres in hole SC0366.

The company also highlighted 14 metres at 2.70 grams of gold per tonne from 63 metres, and 12 metres at 1.57 grams per tonne from 46 metres in hole SC0362.

Finally, it reported 24 metres at 1.64 grams of gold per tonne from 17 metres in hole SC0364, and four metres at 8.51 grams per tonne from 40 metres in hole SC0368.

Looking at its progress, Cora said 174 holes had been drilled totalling over 18,340 metres from the start of the campaign to 14 June.

All three rigs were currently drilling at Selin in the second phase drill programme, targeting deeper holes to deepen existing shallow, average 65 metre depth, pit shells.

"The first set of results in this drill campaign at Zone A have followed strongly from Selin and confirmed more holes of good widths and grade in oxide ore," said chief executive officer Bert Monro.

"While we await further results from this target over the coming weeks, three rigs are now drilling back at Selin for the follow-up deeper second phase programme, and a fourth rotary air blast rig owned by Cora is completing sterilisation drilling on potential process plant and tailings storage facility sites."

At 1133 BST, shares in Cora Gold were down 6.9% at 8.1p.