Cora Gold ups gold resources 200% at Sanankoro, eyes mine construction start in 2022
(Kitco News) - Cora Gold, the West African focused gold company, today reported a +200% total ounces increase in the updated Mineral Resource Estimate ('MRE') from maiden 2019 MRE, for the Sanankoro gold project in Southern Mali.
According to a press-release, the updated MRE follows the recently completed ~43,000m drilling campaign at Sanankoro which focused on Mineral Resource growth and upgrading existing Mineral Resources to higher confidence categories.
The company said that updated pit constrained MRE amounted to 21.9 million tonnes at 1.15 g/t gold for a total of 809.3 koz of gold, including 540.6 koz @ 1.33 g/t gold in the Indicated category and 268.7 koz @ 0.90 g/t gold in the Inferred category. All deposits remain open in all directions.
The company added that work on the DFS is gaining momentum following appointment of consultants and completion is expected in H1 2022.
CEO Bert Monro commented, "Not only has the total Mineral Resource been expanded by over 200% from our maiden Mineral Resource but there has also been an excellent conversion from Inferred to Indicated Mineral Resources. Furthermore, nearly all of the MRE mineralisation is in the oxide and transitional zones and is in line with the company's strategy of delivering an open pit, free digging, high-recovery gold mine at Sanankoro."
Sanankoro is located on the leading western edge of the Yanfolila-Kalana Volcanic Belt. There is major deep-seated structural architecture across the district which links the major gold mines at Siguiri, Lero, Tri-K, Kalana and Yanfolila.
The company said it continues to focus on developing Sanankoro towards the construction of an open pit, oxide focused, gold mine which is anticipated in H2 2022.
By Vladimir BasovFor Kitco News
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