(Alliance News) - Cora Gold Ltd said Tuesday it received "encouraging" results from samples taken from its Sanankoro gold discovery in Mali.
The results were from the the testing of 207 kilograms of samples from three prospects at the discovery: Selin, Zone A and Zone B.
Ore leach tests generated gold recoveries of between 92.4% and 96.7%. This was without oxygen addition and using a 106-micron grind size and low cyanide concentration.
"The results from this comprehensive scoping study level of metallurgical testwork on a variety of oxide ore types and depths at Sanankoro has continued to yield a very encouraging characteristics profile for the processing of oxide gold," Cora Chief Executive Jonathan Forster said.
"The confirmation that the oxides are soft and will require only moderate grinding to a relatively coarse grind size, with only modest concentrations of cyanide and yet still able to generate gold recoveries well in excess of 90%, is particularly welcome," Forster added. "This points to the potential for a lower cost processing route, which in conjunction with anticipated lower mining costs, should help to support the ongoing scoping study."
"Although gold recoveries from the column leach don't match that of the cyanide leach approach, it is reassuring that the result obtained is considered a minimum with further upside potential if a programme is pursued over a greater length of time," Forster continued. "This work shows that heap leach, with expected lower capex, may still be considered as an option."
Shares in Cora were 0.7% lower at 7.40 pence in London on Tuesday.
By Ahren Lester; ahrenlester@alliancenews.com
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Cora Gold (CORA)