Cora Gold upbeat on eighth set of drill results from Sanankoro

The AIM-traded firm said it was focussed on targeting resource growth as well as infill drilling to convert existing inferred resources to indicated.

It described the results to date as “extremely encouraging”, with good widths and high-grade results in generally shallow oxide ore.

The highlights from the new results included eight metres at 19.11 grams of gold per tonne from 90 metres in hole SC0459 at B1, and 32 metres at 4.43 grams per tonne from 29 metres in hole SC0453 on the northernmost tested section at B3.

They also included 28 metres at 2.85 grams of gold per tonne from 32 metres in hole SC0443 at B3, 13 metres at 3.03 grams per tonne from 77 metres in hole SC0462 at B1, and 25 metres at 1.35 grams per tonne from 65 metres in hole SC0436 at B3, down-dip of SC0453.

Results at zone B represented a first phase programme targeting the mineralisation along the previously-defined 1.75 kilometre strike length of the deposit.

Cora said the results demonstrated that there was further mineralisation beyond the existing pit boundaries, both at depth and along strike in both directions, offering “further encouragement” as the company targeted a resource update later in the year.

“We have now drilled over 27,000 metres in this programme and are now expecting to drill in excess of the originally planned 35,000m as we follow up some of the excellent results we have been receiving,” said chief executive officer Bert Monro.

“We currently have two reverse circulation rigs and a diamond rig at site drilling out the final metres of this campaign.”

At 1100 BST, shares in Cora Gold were up 4.71% at 10p.