Last checked at 29 Oct 2018 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
29 October 2018
Cora Gold Limited ("Cora Gold" or "the Company")
Full Exploration Target Report Available on Website
Cora Gold Limited, the West African focused gold exploration company, is pleased to announce that further to the announcement of 15 October 2018, the full Exploration Target Report prepared by SRK Consulting (UK) Ltd ("SRK") is now available on the Company website here: http://www.coragold.com/2018/10/29/srk-exploration-target-report-sanankoro/.
In the report SRK has determined an initial Exploration Target for the Sanankoro Gold Discovery in southern Mali ("Sanankoro") of between 30 and 50 million tonnes of gold ore at a grade of between 1.0 and 1.3 g/t Au. The report has confirmed the Company's internal conviction that Sanankoro has the potential to delineate 1.0-2.0 million ounces ("Moz") to a depth of 100m, indicative of significant potential further upside at depth.
Dr Jonathan Forster, Cora Gold's CEO, commented, "It is very pleasing to have our confidence in the gold potential of the Sanankoro project confirmed by SRK's independent review. The Exploration Target of 1.0-2.0 Moz is taken only to a vertical depth of 100m. In an environment where depth of oxidation ranges from about 50m to in excess of 100m, this suggests that potential for significant upside remains at depth. Large tonnages of oxide ore, which in many places is represented by soft saprolitic ore, should be amenable to low cost mining and processing which could also be beneficial for the early stages of mine development.
"SRK's report will now act as a springboard for the next stage of our strategy. We are currently planning a programme which will be seeking to define the strike extent and depth potential of higher-grade zones which might be suitable as 'starter pits' for any future standalone gold mine."
**ENDS**
For further information, please visit http://www.coragold.com or contact:
Jon Forster | Cora Gold | +44 (0) 20 3239 0010
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Ewan Leggat / Charlie Bouverat | SP Angel (Nomad & Joint Broker) | +44 (0) 20 3470 0470
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Peter Krens / Nick Orgill | Mirabaud Securities (Joint Broker) | +44 (0) 20 3167 7150
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Lottie Wadham / Susie Geliher | St Brides Partners (Financial PR) | +44 (0) 20 7236 1177 |
Notes to the Editors
Cora Gold is a new gold exploration company focused on two world class gold regions in Mali and Senegal in West Africa. Historical exploration has resulted in the highly prospective Sanankoro Gold Discovery, in addition to multiple, high potential, drill ready gold targets within its broader portfolio. Cora Gold's primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (South Mali), which Cora Gold believes has the potential for a standalone mine development. Cora Gold's highly experienced and successful management team has a proven track record in making multi-million ounce gold discoveries which have been developed into operating mines.