West Africa-focused gold miner Cora Gold is making “excellent progress” in advancing the definitive feasibility study (DFS) for its Sanankoro gold project, in southern Mali, CEO Bert Monro said on December 13.
When completed in the second half of 2022, the DFS will unlock the $25-million Lionhead Capital funding to support the construction of the mine.
He added that the recently updated mineral resource estimate exceeded the miner’s expectations and set up strong foundations for the mining study to be completed with a high conversion to indicated oxide material.
Following the appointment of consultants and contractors in September, many other workstreams have been successfully advanced, with test work samples already in the lab for analysis, geophysics work completed, and drilling programmes under way, besides other key steps achieved.
With various milestones already completed in the DFS process, the next stage in Sanankoro’s development of completing the environmental- and social-impact assessment is “well on track” to be finalised in the first half of 2022.