Cora Gold announces series of new discoveries

West Africa-focussed Cora Gold announced a series of new surface gold discoveries from satellite imagery and surface prospecting programmes at the Sanankoro Gold Project on the Yanfolila Gold Belt in southern Mali on Wednesday.

Additionally, it also announced the award of a new convention agreement - one of the first under the new mining code - over the Sanankoro Permit area.

It said three new mineralised structures had been identified, with a four kilometre trend of new surface workings identified at Selin.

Cora described Selin as the “largest and highest-grade” deposit at Sanankoro, adding that new x-ray fluorescence work had defined a clear strong gold-arsenic-tungsten signature, which would facilitate fast-tracking additional Selin-styled diorite-host resource targets.

An eight kilometre trend of surface workings had been identified west of C Zone, the Bokoro West Trend, on the newly-identified Bokoro Far West Trends.

Two new trends of surface workings were identified east of the Sanankoro Main Trend South.

Cora also reported a three kilometre north-eastern extension of the Dako II Main discovery, with a new prospect located on the Dako II Far East Trend.

More than 900 samples were collected and panned to identify the discoveries, the board said, with follow-up drilling now planned on those discoveries with its Dando rotary air blast rig during the first and second quarters.

“These new discoveries will be ordered and prioritised accordingly and fed into the drilling pipeline at Sanankoro,” said chief executive officer Bert Monro.

“The fact the team on the ground is continually making new discoveries bolsters our confidence in the Sanankoro resources growing significantly over time with further drilling.

“We look forward to following up these discoveries with drilling in the near future.”

At 1100 GMT, shares in Cora Gold were up 6.88% at 8.55p.