New 1.5KM Gold Zone Encountered At Sanankoro
West African focused Cora Gold Limited, (EPIC:CORA.L) has discovered a new 1.5km gold zone at its flagship Sanankoro Gold Project in Mali.
The new find was made through a reconnaissance aircore drilling programme at the Bokoro II permit, which borders the Sanankoro permit to the East.
CEO, Bert Monro, said the reconnaissance exploration programme was testing new zones of potentially near surface economic gold mineralisation within a 5km radius of the main focus of the existing Sanankoro deposits. Many similar targets remain to be tested.
Best results included:
- 8m @ 7.4 g/t Au, including 2m @ 27.1 g/t Au
- 7m @ 1.3 g/t Au;
- 7m @ 1.5 g/t Au;
- 3m @ 1.14 g/t Au; and
- 2m @ 2.6 g/t Au.
“These results are extremely positive given that it is the first time the Bokoro permit has been systematically drilled by Cora, with the programme achieving its objective by successfully delineating a 1.5km gold zone that lies close to Selin, one of our existing deposits,” Mr Monro said.
“With many similar oxide targets remaining within the project area in close proximity to the defined resources, upside oxide potential remains significant, even before considering the future potential for the deeper sulphide mineralisation.
“Cora remains focused on the Sanankoro Gold Project, and with a very positive Scoping Study and a recently signed US$21m term sheet with Lionhead Capital to support its future development on completion of a DFS this continues to be a very exciting time for the
The results of the programme confirmed the broad extent of near surface, anomalous levels (0.1-0.3 g/t Au) of gold lying immediately below the ferricrete cap in the mottled zone of the heavily weathered saprolite. Importantly, two primary “feeder” gold structures are interpreted from results over some 900m of strike length in the northern zone and a single structure over some 600m in the south. Geophysical anomalies derived from a previous ground induced polarisation survey (IP) underlie the primary structures and potentially could link the north and south drilled zones over the undrilled gap of some 400m.