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
Drilling results from Cora Gold’s Sanankoro project have highlighted the high-grade potential within the near-surface resources of the southern deposits of the prospect.

The company remains on schedule to drill up to 35 000 m by the end of the programme, with a dual focus on targeting resource growth and infill drilling to convert existing inferred resources to indicated.

Drill results from Zone A of the prospect have found 19 m of gold at 31.56 g/t from 65 m. This intercept, Cora reports, highlights the potential short-range, generative grade potential of these traditionally sparsely drilled structures.

Also at Zone A, 21 m of gold was found at 5.75 g/t from 98 m and 17 m of gold at 2.44 g/t from 34 m. This zone revealed gold for 19 m at a grade of 2.07 g/t from 28 m.

The results, to date, have been “extremely encouraging”, with good widths and high-grade results in generally shallow oxides ore, Cora has reported.

Drilling at Zone C – currently a preresource discovery and not part of any current mineral resource estimate – has found gold for 14 m at 8.54 g/t from 115 m, 7 m at 12.17 g/t from 70 m and 24 m at 2.32 g/t from 86 m.

Further, Zone C has also revealed gold for 30 m at 1.68 g/t from 74 m.

Zone C Phase 1 results highlight the opportunity to develop a first openpit resource in 2021 from this prospect and, by extension, opens up the regional potential of the Sanankoro West Trend to new resource discovery in 2022.

Cora reports that follow-up development drilling has started at Zone A and will alternate with Zone C to enhance targeting.

Cora aims to complete the drill programme over the next month, with a resource update due to follow once all the assay results have been received. 

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.