Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, in Mali.

Project Owner/s
Cora Gold.

Project Description
A preliminary oxide scoping study has shown that Sanankoro has the potential to be a highly profitable standalone oxide mine. The project has combined oxide and sulphide measured, indicated and inferred resources of five-million tonnes grading 1.6 g/t gold.

The scoping study has focused on a 1.5-million-tonne-a-year plant, delivering average production of about 45 632 oz/y over a three-year mine life.

Based on current Joint Ore Reserves Committee-compliant resources, the study has determined that a heap-leach processing methodology is preferable to a carbon-in-leach methodology.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The pretax net present value, at an 8% discount rate, is $30.9-million and the internal rate of return is 84%, with a payback of less than 18 months.

Capital Expenditure
Preproduction capital expenditure is estimated at $20.6-million.

Planned Start/End Date
Not stated.

Latest Developments
Cora Gold has started a new field programme and is mobilising teams and drill contractors at the Sanankoro gold project.

The initial focus of the 18-hole, 1 520 m aircore drill programme will be to follow up on a discovery made at the Dako II deposit, which contains the Fie Shear Zone as a new regional-scale generative resource corridor trending 4 km north-eastward from existing intercepts into the Bokoro and Bokoro East permits.

During prior drill work, the company intersected 6 m grading 1.48 g/t gold, 12 m grading 1.52 g/t gold and 11 m grading 1.28 g/t gold from its Sanakoro resource growth programme.

Cora aims to deliver a definitive feasibility study on the project before the end of next year.

The company is aiming for a new resource statement in 2021.

The defined exploration target for the five contiguous permits encompassing the 388 km2 Sanankoro area is between one-million ounces and two-million ounces to a depth of 100 m.

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study) and Digby Wells Environmental (economic- and social-impact assessment).

Contact Details for Project Information
Cora Gold, email info@coragold.com.