Cora Gold Ltd said it had started 7,500m resource drilling at its Sanankoro gold project in southern Mali.
OBJECTIVES
The programme will focus on enhancing the current mineral resource estimate of 809.3 koz at 1.15 g/t Au.
The company said there was strong potential for deposits with all deposits open at depth and along strike.
Drilling is due to be completed in Q2 2022 with results to be released as they are received.
The company aims to deliver a definitive feasibility study (DFS) in the coming months.
Cora Gold has a US$25m term sheet with Lionhead Capital to fund the development of Sanankoro after completion of the DFS.
ACCELERATION
Chief executive Bert Monro said that the company had multiple workstreams underway alongside a resource expansion programme.
“We have consistently demonstrated Sanankoro’s potential to become an open-pittable, free-digging oxide mine and work will accelerate throughout 2022 as we look to make this into reality.”