Cora Gold Share News (CORA)

(Sharecast News) - West-Africa focussed Cora Gold announced improved results from the re-analysis of drilling samples carried out in the fourth quarter of 2020 at the Dako II permit on Monday.
The AIM-traded firm said Dako II is contiguous with its flagship Sanankoro gold project in southern Mali.

It said the first-pass screening 50g fire assay results announced on 20 January, used for quick results on exploration holes, had now been tested by 2kg leachwell bottle roll with 50g fire assay on the tail for a resource-quality result.

The bottle roll analysis was described by the company as a "more representative" assay, adding that it had generally delivered "significantly enhanced" results in terms of intercept widths and grades.

It said the results included five metres at 6.14 grams of gold per tonne from 84 metres in hole DC0035, up from 3.75 grams per tonne, and 13 metres at 1.87 grams of gold per tonne from 55 metres in hole DC0030, up from 1.61 grams per tonne.

They also included 13 metres at 1.2 grams of gold per tonne from 15 metres, up from three metres at 2.08 grams per tonne from 24 metres, and 13 metres at 1.2 grams per tonne from 33 metres in hole DC0031, which was up from 12 metres at 0.75 grams per tonne.

Cora said more than three kilometres of surface mineralisation was yet to be drilled at Dako II.

"We are pleased by the enhanced results from the bottle roll analysis of last year's drilling at Dako II," said chief executive officer Bert Monro.

"Having over three kilometres of surface mineralisation still to be drilled at Dako II offers the potential for even more."

Monro said Dako II is seven kilometres south of the company's existing resources at Sanankoro, with the board hoping to see the discovery turn into part of the future resources and mine plan for the project.

"Drilling is ongoing at Sanankoro with first results from the recently commenced programme due during the second quarter.

"Dako II will be drilled later in this campaign to follow up on these results."

At 1041 GMT, shares in Cora Gold were up 3.39% at 7.62p.