Business
Maiden Resource at Sanankoro
Maiden Resource at Sanankoro.
About this update from Cora Gold Ltd.
[{"type":"text","content":"\n \nRNS Number : 7335V Cora Gold Limited 05 December 2019 \n\nCora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining\n05 December 2019\nCora Gold Limited (\"Cora\", \"Cora Gold\" or \"the Company\")\nMaiden Resource at Sanankoro \n \nCora Gold Limited, the West African focused gold exploration company, is pleased to announce that it has received a maiden pit constrained Mineral Resource Estimate (\"MRE\") from independent consultants SRK Consulting (UK) Ltd (\"SRK\") for its Sanankoro gold project in southern Mali (\"Sanankoro\" or \"the Project\"). The MRE has been prepared in accordance with the JORC 2012 Code. This is an initial step in determining the overall potential of Sanankoro, which has a 1-2Moz Exploration Target within 100m of surface. \n \nTo view the full RNS with illustrative diagrams please click here: http://www.rns-pdf.londonstockexchange.com/rns/7335V_1-2019-12-4.pdf\n \nHighlights\n· Pit constrained Maiden Inferred Mineral Resource of 5.0 million tonnes (Mt) at 1.6 g/t Au for 265,000 ounces of gold\n· Reconfirmation of the SRK derived Exploration Target of between 30 Mt and 50 Mt at a grade of between 1.0 and 1.3 g/t Au, for approximately 1-2 million ounces of gold, originally derived by SRK in 2018\n· MRE based on under 25% of the total 40 linear km strike length of the potential mineralised zones identified to date \n· The majority (88%) of the Inferred Mineral Resource is derived from oxide material. \n· Mineralisation encountered up to 170 m depth with the current pits extending to a maximum depth of 130 m, therefore offering significant upside potential\n \nJonathan Forster comments, \"We are pleased to announce the initial mineral resource estimate for Sanankoro, which was focused on the oxide, starter-pit, potential of the Project, targeting the opportunity for a low-cost mining operation. This estimate is the first step in defining the overall oxide potential at the Project, where to date less than a quarter of the 1-2Moz SRK Exploration Target has been tested. We have also been able to include a small amount of sulphide material in the MRE, confirming our belief that exploration expansion into the sulphide zones could provide significant future upside.\n \n\"We...