Cora announces 13th set of results from Sanankoro drilling

West Africa-focussed gold company Cora Gold announced the 13th set of results from its largest-ever 40,000 metre drill campaign at the Sanankoro Gold Project in southern Mali on Wednesday.

The AIM-traded firm said the drill results continued to be “extremely encouraging”, with high-grade results in generally shallow oxide ore.

An updated mineral resource estimate was expected in the coming weeks, after the final set of drill results were published.

It said the latest results from the Selin deposit delineated a continuous ore body of a 3.4 kilometre strike length, which remained open in all directions.

Intercepts included 18 metres at 2.32 grams of gold per tonne from 86 metres in hole SC1051, 18 metres at 2.29 grams of gold per tonne from 146 metres in hole SC1032, 16 metres at 2.15 grams of gold per tonne from 90 metres in hole SC1090, and 24 metres at 1.13 grams of gold per tonne from 91 metres in hole SC1087.

Results infilled a 300 metre gap between the existing pit shells at Selin, with 700 metres strike length of new surface mineralisation proved in the drill programme.

Cora said several new hanging-wall ore shoots were discovered parallel to and within 100 metres of the west of the existing Selin ore body.

The Selin resource remained open in all directions, since the 2021 drilling was focussed on measured and indicated conversion, proximal to the 2019 pit shells.

“The final results at Selin from this drill programme have once again shown good quality grade and widths in oxide material,” said chief executive officer Bert Monro.

“More importantly, these results infill the gaps between the current two pit shells that make up Selin offering the potential to create one larger pit in the upcoming mineral resource estimate (MRE) update.

“Over this drill campaign the mineralised surface footprint of Selin has been extended 700 metres in strike length north and south of the previous pit boundaries which, coupled with these infill results, offers the company encouragement in advance of the upcoming MRE.”

Monro said the recent drilling at Selin also identified a new mineralised structure less than 100 metres west of the existing ore body.

“This is an interesting development that will need further drilling but offers yet more potentially significant upside at the Selin deposit alone.”

At 1502 BST, shares in Cora Gold were down 2.16% at 13.6p.