Cora Gold starts new drilling programme at Yanfolila

(Sharecast News) - West Africa-focussed gold company Cora Gold announced the start of a new drilling programme across its Yanfolila Project Area in southern Mali on Monday.
The AIM-traded firm said the drilling was following on from previous positive drilling results within a 25 kilometre radius of Hummingbird Resources' Yanfolila Gold Mine.

It said 5,000 metres of air core drilling was planned across three permits at Yanfolila, being Tagan, Tékélédougou, and Farassaba III.

Drilling had begun at Tagan, targeting extensions to existing discovery holes.

It noted that historical drill results across all three permits included 43 metres at 1.2 grams of gold per tonne, and 25 metres at 1.1 grams of gold per tonne at Tagan.

At Tékélédougou, they included 56 metres at 2.2 grand of gold per tonne and 17 metres at 6.8 grams of gold per tonne, and at Farassaba III they included 12 metres at 1.1 grams of gold per tonne and seven metres at 1.56 grams of gold per tonne.

"We are excited to be heading back with the drill rig to permits in the Yanfolila Project Area where we have historically had some very strong results, generally in shallow oxides," said chief executive officer Bert Monro.

"These results are further encouraged when you consider the proximity to an operating gold mine.

"We look forward to releasing the results as we receive them."

At 0817 GMT, shares in Cora Gold were up 4% at 7.8p.