Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, Mali.

Project Owner/s
West Africa-focused gold miner 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 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 updated the mineral resource estimate for its Sanankoro gold project, with a 14% increase in total ounces, compared with the mineral resource estimate published in November 2021.

The  indicated mineral resources have increased by 22%, from 419 000 oz to 509 000 oz.

The mineral resource estimate, at a cutoff grade of 0.4 g/t gold, comprises 24.9-million tonnes of material at a grade of 1.15 g/t gold, of which 16.1-million tonnes are indicated mineral resources and 8.7-million tonnes are inferred mineral resources for a total 920 000 oz of gold, of which 657 000 oz are indicated and 509 000 oz of those are also in free-digging oxide material. 

“The main focus of this programme was to add oxide indicated ounces, which will enhance the reserve potential in our upcoming definitive feasibility study, and this mineral resource estimate has delivered on that plan,” Cora CEO Bert Monro has said.

Monro has stated that new discoveries in close proximity to the existing resources, found during this year's exploration programme, also show that there is much potential to find new deposits in the future, as the company remains in the early stages of developing the exploration potential across the Sanankoro permit area.

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study); Digby Wells Environmental (economic- and social-impact assessment); DRA Global (independent project manager); New SENET (management of updated mineral resource estimate and the mining study as part of the DFS); CSA Global (geological and mining consultant to manage the updated mineral resource estimate and the mining study as part of the DFS); Epoch Resources (appointed to oversee the tailings storage facility elements of the DFS); and Capital (reverse circulation drilling).

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