(Alliance News) - Cora Gold Ltd on Monday said it has secured assay results from three out of four core holes completed at the Sanankoro gold discovery in southern Mali.
The exploration company said the first 223-metre long SD 008 core hole intersected gold mineralisation up to 170 metres below surface and demonstrated continuity of mineralisation 50 metres below the base of the previous deepest intersect.
The SD 009 core hole targeted at an area of sulphide mineralisation where reverse circulation drilling has been unable to fully cross the mineralised zone due to difficult ground conditions. The hole also returned anomalous gold values.
Results of both holes have again confirmed the close association between the mafic igneous unit and gold mineralisation at Sanankoro, the company said, as well as the typical vertical dip of the geological units.
The third SD 010 drill hole targeted depths of 50 metres below that of previous drilling and also observed mineralisation, Cora Gold said.
"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 Jonathan Forster.
"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," added Forster.
Cora Gold shares were trading 1.3% higher in London on Monday at 9.50 pence each.
Cora Gold (CORA)