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(Sharecast News) - West Africa-focussed gold exploration company Cora Gold announced assay results that has been received from three out of four core holes completed at the Sanankoro Gold Discovery in Southern Mali in the third quarter on Monday.
The AIM-traded firm said vertical continuity of gold mineralisation at the Selin prospect had been confirmed to depths of 170 metres.
It said the core drill programme at Selin and Zone A, Sanankoro was intended to provide information on the potential for gold sulphide mineralisation at depths previously untested by the company.
The reported intersections included 13 metres at 1.84 grams per tonne of gold, and 17.5 metres at 2.70 grams per tonne of gold.
Cora's board said the results demonstrated the potential to "significantly expand" the scale of the discovery at Sanankoro.
"We continue to improve our understanding of the potential of Sanankoro and the results from these first three core drill holes have provided strong encouragement for the continuity of gold sulphide mineralisation at considerable depth," said chief executive officer Jonathan Forster.
"To have tracked gold mineralisation to a vertical depth of 170m represents a key positive development for the company that, excitingly, opens up the opportunity to significantly expand the scale of the gold discovery at Sanankoro.
"In addition, our geological understanding of the style of gold mineralisation at both prospects is expanding with evidence emerging for late stage disruption of gold mineralisation by shearing."
Forster said the core holes were drilled at the end of what had been a "highly successful and transformative" drill programme for the firm.
"The findings to date have not only improved our understanding of the gold mineralisation at Sanankoro but have also demonstrated continuity of the gold mineralisation over some 2.2 kilometres of the Selin structure, with potential for extension at depth.
"We are looking forward to reporting the final set of drill results, as well as an initial mineral resource and delivering a scoping study on the project before the end of this year."
27 Jun 2022 20:26
IN BRIEF: Cora Gold financer signs off on feasibility study delay
Cora Gold Ltd - West Africa-focused gold explorer - Says Lionhead Capital Advisors Proprietary Ltd has confirmed it does not intend to terminate the term sheet for the funding of Cora's flagship Sanankoro Gold Project if Cora fails to deliver the definitive feasibility study by June 30. The delivery of the DFS by the deadline was part of the terms and conditions of the USD25 million mandate and term sheet with Lionhead, as announced last September.
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