Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, in 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 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 reported multiple high-grade intercepts at the Sanankoro gold project from the tenth set of drill results from the company’s biggest-ever drilling campaign.

These intercepts include 32 m at 6.92 g/t gold at Selin, and 2 m at 146 g/t gold at Zone B.

The company is focused on targeting resource growth, as well as infill drilling to convert existing inferred resources to measured and indicated.

The results from the programme have been consistently encouraging, with good widths and high-grade results in generally shallow oxide ore, Cora has stated.

Drilling is ongoing, with two reverse circulation drill rigs and a diamond drill rig targeting infill and resource expansion holes, and a rotary air blast rig continuing with a sterilisation drill programme, as part of the definitive feasibility study. 

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.