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 is making “excellent progress” in advancing the definitive feasibility study (DFS) for its Sanankoro gold project, CEO Bert Monro said on December 13.

When completed in the second half of 2022, the DFS will unlock the $25-million Lionhead Capital funding to support the construction of the mine.

He added that the recently updated mineral resource estimate exceeded the miner’s expectations and set up strong foundations for the mining study to be completed with a high conversion to indicated oxide material.

Following the appointment of consultants and contractors in September 2021, many other workstreams have been successfully advanced, with testwork samples already in the lab for analysis, geophysics work completed, and drilling programmes under way, besides other key steps achieved.

With various milestones already completed in the DFS process, the next stage in Sanankoro’s development of completing the environmental- and social-impact assessment is “well on track” to be finalised in the first half of 2022.

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study); Digby Wells Environmental (economic- and social-impact assessment); DRA Global group company, 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); and Epoch Resources (appointed to oversee the tailings storage facility elements of the DFS).

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