Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, Mali.

Project Owner/s
West Africa-focused gold miner Cora Gold.

Project Description
An updated definitive feasibility study (DFS), released in September 2025, has determined that Sanankoro is an exceptional project and well positioned to become a significant new high-margin openpit oxide gold mine.

The updated DFS reports – based on the Selin, Zone A and Zone B deposits – a probable reserve of 14.6-million tonnes for 531 000 oz at 1.13 g/t gold using a gold price of $2 200/oz.

The mining of Selin, Zone A and Zone B is well suited to typical openpit methods using a backhoe configured excavator and truck fleet, which will be operated by a mining contractor.

Average production over the project’s 10.2-year mine life is estimated at 482 000 oz, with average gold production a year estimated at 47 000 oz.

Metallurgical test work has confirmed an average LoM gold recovery of 90.7% through a conventional 1.5-million-tonne-a-year carbon-in-leach processing plant.

The management plan shows the potential for an additional 173 000 oz of gold to be mined from current inferred resources. Cora Gold will target these ounces using more drilling to convert to reserves. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The updated DFS estimates a pretax net present value of $302.1-million, at an 8% discount rate, and an internal rate of return of 74.5%, with a payback of 1.1 years from the start of operations.

Capital Expenditure
Preproduction capital costs are estimated $124-million.

Planned Start/End Date
The project will take 21 months to completed.

Latest Developments
Cora Gold has outlined a reverse circulation and diamond drilling programme of more than 12 000 m, targeting resource expansion at existing deposits and new discoveries at high-priority greenfield targets.

The campaign will focus heavily on Zone B, C and Selin, all located within Sanankoro, while testing underexplored strike extensions and nearby targets. An updated mineral resource estimate is expected after the assay results have been received.

The programme is designed to extend mine life and position Sanankoro for longer-term scale growth beyond the current ten-year production plan, following the successful financing activities in the first half of 2026, which fully funded Sanankoro until production.

Cora is now focused on unlocking the project’s long-term potential through an extensive resource growth and exploration programme.

The 2026 drill programme will target extensions to existing deposits and several highly prospective near-mine greenfield targets, offering the potential for rapid conversion into future mine plan feed.

Drill allocation is weighted towards Zone B at 40%, followed by Selin at 30%. Zone A and C, at 25% and 5% respectively, will be allocated towards early-stage greenfield exploration targets.

Zone B is expected to be the primary focus, with ongoing work cantered on mineralised zones, active artisanal workings, limited deeper drilling and the strong potential to improve resource continuity within the current model.

The planned drilling programme at Zone B is designed to improve resource continuity at depth and reduce irregularities along the lower boundaries of the current mineral resource estimate model. Selin is focused on the southern portion of the deposit, where historical drilling remains relatively shallow and widely spaced, thereby limiting the current interpretation of mineralisation continuity and overall scale potential.

The planned drilling programme at Zone C will focus on the central portion of the deposit, where infill drilling at about 50 m spacing is designed to improve geological confidence, strengthen mineral resource continuity and support future resource classification upgrades.

Greenfield drilling will test several undrilled targets situated near existing and planned infrastructure, where successful drilling could support rapid resource growth and incorporation into future mine plans. Exploration activities will continue across the wider Sanankoro permit package, which hosts five major gold-bearing structures and numerous emerging exploration targets.

Updated mineral resource estimates will be compiled following the completion of the programme and assay results.

Key Contracts, Suppliers and Consultants
DRA Global group company New Senet (updated feasibility study and FEED).

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