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(Sharecast News) - West Africa-focussed exploration company Cora Gold announced final drilling results from its fourth quarter programme at the Sanankoro Gold Project in the Yanfolila Gold Belt of Southern Mali on Monday.
The AIM-traded firm said the programme comprised six holes, totalling 837 metres of core drilling at zones A and B on the Sanankoro structure.
At zone A, it said the expected gold zone was intersected in both holes at vertical depths of about 120 metres in sulphide, reporting 13.4 metres at 1.41 grams of gold per tonne in hole SD0012, and 4.4 metres at 1.28 grams per tonne in hole SD0013.
On zone B, Cora said gold zones were intercepted between currently-defined resources, demonstrating continuity of mineralisation over a length of around 1,500 metres.
Highlights there included three metres at 2.04 grams of gold per tonne in hole SD0016, 0.9 metres at 44.6 grams per tonne in hole SD0016, three metres at 5.16 grams per tonne in hole SD0016, and five metres at 1.74 grams per tonne in hole SD0018.
"These are the final round of drilling results from this work programme, following on from two previous sets of drilling results on the Sanankoro Gold Project," said chief executive officer Bert Monro.
"We are pleased that the combined results have identified significant scope to extend resources both at depth and along strike."
Monro said the latest results, including three metres at 5.16 grams of gold per tonne and 13 metres at 1.41 grams per tonne, with approximately 14% of that sample not recovered within the mineralised interval, are further signs of the firm's confidence in the project.
"Having recently announced a ?2.89m conditional fundraise, we have the capital available to continue to move Sanankoro forward with an initial focus on resource growth and then in time further study work."
At 1328 GMT, shares in Cora Gold were up 1.16% at 4.35p.
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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