(Alliance News) - Cora Gold Ltd on Monday announced "fantastic" discoveries at Sanankoro gold project in southern Mali as the West Africa-focused gold exploration company completes its fourth set of drill results from its "largest-ever drilling campaign".
Cora shares were up 7.7% at 8.78 pence each in London on Monday morning.
A total of 163 holes have been drilled totalling over 16,000 metres from the start of the campaign. A third rig will commence drilling shortly, with the company aiming to complete up to 35,000 metres of drilling by the end of July.
Chief Executive Bert Monro noted that the discovery of 56 metres at 3.54 grams per tonne of gold from 22 metres in more shallow oxides is "another fantastic drill hole in this campaign".
Monro said: "I continue to be hugely impressed with the work all the Cora team and our contractors are doing on site...Having just completed phase 1 drilling at zone A and B, with results for that to follow shortly, the rigs are returning to Selin [deposit] for the phase 2 programme aiming to extend the average 65m pit shell deeper.
"We have now completed over 16,000 metres of drilling, and reported 5,168 metres of assay results, in this programme and remain on schedule and budget to complete the resource expansion and upgrade programme during July 2021 with an updated mineral resource estimate to follow during [the second half of] 2021. This is an extremely exciting time for the company with plenty more news to come from this ongoing programme."
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Cora Gold (CORA)