Cora Gold Limited Exploration Target Report Available on Website (3787F)
October 29 2018 - 2:00AM
UK Regulatory
TIDMCORA
RNS Number : 3787F
Cora Gold Limited
29 October 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector:
Mining
29 October 2018
Cora Gold Limited ("Cora Gold" or "the Company")
Full Exploration Target Report Available on Website
Cora Gold Limited, the West African focused gold exploration
company, is pleased to announce that further to the announcement of
15 October 2018, the full Exploration Target Report prepared by SRK
Consulting (UK) Ltd ("SRK") is now available on the Company website
here:
http://www.coragold.com/2018/10/29/srk-exploration-target-report-sanankoro/.
In the report SRK has determined an initial Exploration Target
for the Sanankoro Gold Discovery in southern Mali ("Sanankoro") of
between 30 and 50 million tonnes of gold ore at a grade of between
1.0 and 1.3 g/t Au. The report has confirmed the Company's internal
conviction that Sanankoro has the potential to delineate 1.0-2.0
million ounces ("Moz") to a depth of 100m, indicative of
significant potential further upside at depth.
Dr Jonathan Forster, Cora Gold's CEO, commented, "It is very
pleasing to have our confidence in the gold potential of the
Sanankoro project confirmed by SRK's independent review. The
Exploration Target of 1.0-2.0 Moz is taken only to a vertical depth
of 100m. In an environment where depth of oxidation ranges from
about 50m to in excess of 100m, this suggests that potential for
significant upside remains at depth. Large tonnages of oxide ore,
which in many places is represented by soft saprolitic ore, should
be amenable to low cost mining and processing which could also be
beneficial for the early stages of mine development.
"SRK's report will now act as a springboard for the next stage
of our strategy. We are currently planning a programme which will
be seeking to define the strike extent and depth potential of
higher-grade zones which might be suitable as 'starter pits' for
any future standalone gold mine."
**ENDS**
For further information, please visit http://www.coragold.com or
contact:
+44 (0) 20 3239
Jon Forster Cora Gold 0010
Ewan Leggat / Charlie SP Angel (Nomad & Joint +44 (0) 20 3470
Bouverat Broker) 0470
Peter Krens / Nick Mirabaud Securities (Joint +44 (0) 20 3167
Orgill Broker) 7150
Lottie Wadham / Susie St Brides Partners (Financial +44 (0) 20 7236
Geliher PR) 1177
Notes to the Editors
Cora Gold is a new gold exploration company focused on two world
class gold regions in Mali and Senegal in West Africa. Historical
exploration has resulted in the highly prospective Sanankoro Gold
Discovery, in addition to multiple, high potential, drill ready
gold targets within its broader portfolio. Cora Gold's primary
focus is on further developing Sanankoro in the Yanfolila Gold Belt
(South Mali), which Cora Gold believes has the potential for a
standalone mine development. Cora Gold's highly experienced and
successful management team has a proven track record in making
multi-million ounce gold discoveries which have been developed into
operating mines.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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