Cora Gold makes on-schedule progress at Sanankoro

West Africa-focussed Cora Gold updated the market on the definitive feasibility study at its Sanankoro gold project in Southern Mali on Monday, reporting that all hydrogeological and geotechnical drilling, associated pump testing and geotechnical test pits were completed on schedule.

The AIM-traded firm said all field-based sampling work was now complete, with final samples being dispatched to the relevant laboratories, while metallurgical test work was ongoing.

All major procurement packages had been sent to suppliers for costing, and the company said its site lay-out had been finalised, including locations of the plant, tailings storage facility and camp accommodation.

The environmental and social impact assessment remained on target for completion in the first half of 2022, while the definitive feasibility study also remained on track to be completed by the end of the first half of 2022.

“We continue to advance the definitive feasibility study at Sanankoro at an encouraging pace and on schedule,” said chief executive officer Bert Monro.

“Following from the progress update in December 2021 where a number of key achievements were reached, the hydrogeological and geotechnical drilling programmes have since been completed in the field.

“With the study process comfortably underway and moving forward encouragingly, further metallurgical test work results and the completion of the environmental and social impact assessment are our next key objectives and I look forward to sharing further updates on the definitive feasibility study and exploration plans in due course.”

At 1147 GMT, shares in Cora Gold were down 2.35% at 8.3p.