(Alliance News) - Cora Gold Ltd on Wednesday said recent assay results from its Sanankoro gold discovery in Mali have found continuation of high-grade gold mineralisation at the at Zone B prospect.
Reverse circulation and diamond core drilling found 31 metres at 1.4 gramme of gold per tonne of ore including 7 metres at 3.1 grammes per tonne. Results also included 11 metres at 3.3 grammes of gold per tonne of ore.
Including historical drill results undertaken by the previous permit holder, which returned 5 metres at 6.1 gramme of gold per tonne ore ore at Zone B, these results reinforce the idea of a continuous mineralised structure.
Cora Chief Executive Jonathan Forster said: "This latest set of drill results returned from Zone B has continued to provide strong encouragement that, in time, there is potential to define a robust gold structure through the heart of the 1,500 metre long Zone B prospect at Sanankoro. The results have provided valuable information, in particular, the core hole which confirmed the higher grades previously identified.
"In an upcoming drill programme, we intend to utilise a more suitable drill rig for the ground conditions, allowing greater access to the whole zone, in the hope that we will be able to demonstrate that, similarly to the Selin and Zone A prospects at Sanankoro, there is the potential for exploitation by open pit in a future mining operation. Our exploration team is looking to mobilise to site at the end of the wet season, early in Q4 and I look forward to updating shareholders as further progress is made."
Shares in Cora Gold were down 1.5% at 8.00 pence in London on Wednesday afternoon.
Cora Gold (CORA)