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Drilling to Start at Madina Foulbé in East Senegal
Drilling to Start at Madina Foulbé in East Senegal.
About this update from Cora Gold Ltd.
[{"type":"text","content":"\n\nCora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining\n8 April 2024\nCora Gold Limited\n('Cora' or 'the Company')\n \nExploration Drill Programme to Commence at Madina Foulbé in East Senegal\n \nPotential for a large scale, in-situ gold mineralisation\n \nCora Gold Limited, the West African focused gold company, is pleased to announce that an exploration drill programme is due to start shortly at its Madina Foulbé gold permit within the Kenieba Project Area ('the Project') in east Senegal. The permit is in close proximity to several Tier 1 gold deposits located within the Mako Geological Belt of the Kédougou-Kéniéba Inlier.\n \nPROGRAMME OVERVIEW\n· 2,000m Reverse Circulation ('RC') drilling programme to evaluate the most prospective gold anomalies not previously drill tested.\n· Drill contract signed and site preparation commenced ahead of drilling due to start week 15 April 2024 and complete in May 2024.\n· Previous soil geochemistry work defined a large 3km long by 1.6km wide gold anomaly (>20ppb) at the Tambor anomaly.\n· The region is serviced by excellent infrastructure within a mining friendly jurisdiction.\n \nBert Monro, Chief Executive Officer of Cora, commented, \"We are delighted to restart work at Madina Foulbé, where previous exploration works only scratched the surface in terms of evaluating the potential size and scale of the in-situ gold mineralisation of the Tambor target. The geological team is excited about the Project's geological potential given its proximity to several operating mines, while Senegal's favourable mining jurisdiction and successful project development history further enhance its prospects.\"\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDETAILS\nBackground\nThe Madina Foulbé permit in Senegal is approximately 27km directly west of the Sadiola Gold Mine and close to several other Tier 1 deposits (Loulo, Gounkoto, Fekola) in the gold belt known as Kédougou-Kéniéba Inlier ('KKI'). Notably, two operators within the KKI have recently been acquired including Chesser Resources Limited purchased by Fortuna Silver Mines Inc. in May 2023 for US$60m, 860koz @ 1.77 g/t Au; and Oklo Resources Limited purchased by B2Gold Corp. in May 2022 for US$66m, 668koz...