West Africa-focused Cora Gold reports that a series of new surface gold discoveries have been identified from satellite imagery and surface prospecting programmes at the Sanankoro gold project, on the Yanfolila gold belt in southern Mali.
The three new mineralised structures identified include a 4 km trend of new surface workings identified at Selin – the largest and highest-grade deposit at Sanankoro.
To date, new X-ray fluorescence work has defined a clear strong gold, arsenic and tungsten signature that will facilitate fast-tracking additional Selin-styled diorite-host resource targets.
The second mineralised structure is an 8 km trend of surface workings identified west of the C Zone – Bokoro west trend, on newly identified Bokoro far west trends. The two new trends of surface workings were identified east of the Sanankoro main trend south.
The third mineralised structure is a 3 km north-eastern extension of the Dako II Main discovery, which is a new prospect located on the Dako II far east trend.
In total, over 900 samples have been collected and panned to identify these three discoveries.
Follow-up drilling is now planned on these discoveries with the company’s Dando rotary air blast rig during the first half of the year.
Cora CEO Bert Monro says these new discoveries will be ordered and prioritised accordingly and fed into the drilling pipeline at Sanankoro. “The fact that the team on the ground is continually making new discoveries bolsters our confidence that the Sanankoro resources are growing significantly over time with further drilling.”
CONVENTION AGREEMENT
In addition, the company has been awarded a new convention agreement – Convention d’Établissement, one of the first under Mali's new mining code, with respect to the Sanankoro permit area, which expired, in accordance with the prior Mining Code, on February 1.
A Convention d'Établissement sets out the administrative, legal and fiscal framework under which the permit holder will operate when working on the relevant area.
Cora looks forward to announcing the award of the related new permit in due course, once the necessary process set out in the new Mining Code has occurred. This will subsequently complete the permitting process.