LONDON (Alliance News) - Cora Gold Ltd on Monday said final assay results have confirmed grades of up to 25 grammes of gold per tonne of ore at Mali's Tekeledougou project, though it may have to reconsider mining plans.
The results also confirm strike lengths of gold of least 1.1 kilometres at the Kouroudian prospect, and 350 metres at Woyoni.
Chief Executive Jonathan Forster said: "The second phase of drilling which combined both reverse circulation and orientated core at Tekeledougou has been of value as it has successfully identified extensions to the mineralised structures and allowed us to better understand the distribution of gold mineralisation at the two prospects, Kouroudian and Woyoni.
"The results suggest we are dealing with multiple gold mineralised quartz veins set in "en-echelon" fashion. The frequency of the veining and its direct association with gold is encouraging."
However, Forster continued: "As is often the case in exploration, the controls to gold mineralisation prove to be more complex than envisaged from the first few drill holes. The association with en-echelon zones of quartz veining mean the company may elect to consider these as selective rather than bulk mining targets."
Shares in Cora Gold were down 15% on Monday at 12.50 pence each.
Cora Gold (CORA)