(Sharecast News) - West Africa-focussed Cora Gold said on Thursday that the Farassaba III permit has been re-awarded for a new nine-year term.
The AIM-traded firm said the new permit, which covers the same 93 square kilometre area as the expired permit, comprised part of the more-than-300 square kilometre group of four permits collectively known as its Yanfolila Project Area.
It said the Yanfolila area is located around Hummingbird Resources' Yanfolila Gold Mine, adding that the permits ranged between eight and 30 kilometres in distance from the Yanfolila processing plant.
"Farassaba III is one of four Cora permits that surround the operating two million ounce Yanfolila Gold Mine," said chief executive officer Bert Monro.
"The permits range from only 8km from the processing plant up to around 30 kilometres away so are within possible trucking distances if economic discoveries are proven on the permits.
"Cora has had some exciting drill results across this portfolio of permits and looks forward to completing further exploration on the ground during 2021."
At 1442 GMT, shares in Cora Gold were down 3.06% at 8.24p.
(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.