08:00 Thu 26 Jul 2018
Cora Gold Limited - Impressive High Grades at Sanankoro Gold Discovery
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")
Further Impressive High Grades at Sanankoro Enhance the Potential Large-Scale of Cora's Gold Discovery in
http://www.rns-pdf.londonstockexchange.com/rns/7914V_1-2018-7-25.pdf
Highlights
· Further drilling indicates broad zones of shallow, high-grade mineralisation in the weathered zone including:
o 52m at 2.41 g/t Au including 25m at 3.91 g/t Au from14m;
o 32m at 3.54 g/t Au including 1m at 72.9 g/t Au;
o 15m at 1.93 g/t Au including 6m at 3.46 g/t Au from 24m;
o 32m at 1.1 g/t Au including 10m at 1.9 g/t Au from 27m; and
o 17m at 1.5 g/t Au from 15m;
· Sanankoro confirmed strike length now extended to approximately 8km indicating its large-scale potential
· Drilling campaigns at both Sanankoro and Tekeledougou projects now completed with ~18,000m completed across both projects and assays pending
Dr
"We have made fantastic progress on the ground since our IPO in
Sanankoro Gold Discovery
During the 2018 drilling season, the Company completed 135 drill holes for a total of over 13,000m including approximately 12,500m of aircore ("AC") and reverse circulation ("RC"), and 507m of core. The programme primarily comprised shallow, first pass, reconnaissance drilling, with a fence spacing of mainly 160m over a combined strike length of about 8km. Drill results have previously been reported (refer RNS announcements dated
Of the 21 holes reported here, eight holes are interpreted to have missed the structure (SC 110-114, 119-121 at Target 1) with no significant intersections.
Figure 1: Selected Drilling Results at Sanankoro
Selin Structure
Cora completed infill drill fences at "Target 1" on approximately 160m spacing (refer Figure 1) using a NW azimuth rather than the earlier E-W direction. The Company also completed further step out reconnaissance drilling, with the objective of extending Target 1 a further 900m to the north. Results from this work continues to indicate continuity of the gold mineralised structure between the wide spaced fences of the first round of drilling at Target 1, however, the Company believes that due to incorrect collar locations for some holes, some areas of the structure may not have been properly tested.
Impressive results were obtained from the two northerly step out drill fences, set about 360m apart, both of which returned evidence for significant gold mineralisation from surface. Depth of weathering is estimated to be approximately 50m, as the alluvial plains of the
Hole No |
Easting |
Northing |
Azimuth |
From |
Interval |
|
|
29N |
29N |
degrees |
metre |
Metres |
g/t Au |
SC 115 |
559835 |
1304152 |
320 |
27 |
32 |
1.10 |
|
|
|
|
Including |
10 |
1.93 |
SC 116 |
559848 |
1304136 |
320 |
105 |
6* |
1.01 |
SC 117 |
559865 |
1303793 |
320 |
45 |
9 |
1.72 |
SC 118 |
559880 |
1303768 |
320 |
86 |
7 |
0.61 |
SC 122 |
559693 |
1305290 |
320 |
14 |
52 |
2.41 |
|
|
|
|
Including |
25 |
3.91 |
|
|
|
|
(which includes |
1 |
41.30 |
SC 123 |
559706 |
1305266 |
320 |
24 |
15 |
1.93 |
|
|
|
|
Including |
6 |
3.46 |
|
|
|
|
(which includes |
1 |
16.10 |
|
|
|
and |
49 |
17 |
0.47 |
SC 124 |
559615 |
1305705 |
320 |
14 |
32 |
3.54 |
|
|
|
|
Including |
1 |
72.90 |
SC 125 |
559631 |
1305685 |
320 |
69 |
15 |
0.81 |
Notes:
assay grades are "recovered grades" determined by cyanide bottle roll techniques. No top cut has been applied to high values.
* hole ended in gold mineralisation
samples were collected predominantly at 1m intervals excepting holes SRC 116 and 117 which were 3m composite samples.
Table1: Selin Structure Drill Results
Bokoro Structure
The Company completed two scissor holes to test an isolated artisanal excavation of 360m length located at the northern part of the Bokoro structure (the same structure hosting Zone C, which is located about 6.7 km to the south).
This artisanal zone extends at least a further 400m to the north as observed by abandoned pits. These holes are the first to be drilled in the northern section of the Bokoro structure and open up a multi-kilometre long zone for follow up exploration.
Hole No |
Easting |
Northing |
Azimuth |
From |
Interval |
|
|
29N |
29N |
degrees |
metre |
metres |
g/t Au |
SC 108 |
558391 |
1302475 |
300 |
37 |
4 |
0.66 |
|
|
|
and |
85 |
26 |
0.20 |
SC 109 |
558282 |
1302661 |
120 |
15 |
17 |
1.53 |
Note: Assay grades are "recovered grades" determined by cyanide bottle roll techniques
Table 2: Bokoro Structure Drill Results
Tekeledougou
Cora has recently completed an 18-hole combined AC/RC drill programme for 2,097m at its
Assay results are awaited from this Tekeledougou work programme and will be reported once received.
Assaying
In order to maximise the reproducibility of assays in the presence of visible gold, 4kg sample sizes from both AC/RC and core were collected and transported to the SGS laboratory in Ougadougou, Burkina Faso. The entire sample was then dried and pulverised, prior to splitting to 2kg samples for cyanide bottle roll analysis. It should be noted that cyanide leach provides a "recovered" gold grade rather than a total gold grade. In oxide samples, such as at Sanankoro, the total gold assay might be expected to be about 5-10% higher than the recovered grade. Bottle roll assays in excess of 0.5 g/t Au will include a component of 50g fire assay testing of the residue material from the bottle roll to enable a total gold content to be established as well as an indication of gold recovery through cyanide leach.
Standard QA/QC procedures include the insertion of standards, blanks and duplicates on a 5% basis.
** ENDS **
For further information, please visit http://www.coragold.com or contact:
Jon Forster |
Cora Gold |
+44 (0) 20 3239 0010 |
John Depasquale/Nick Harriss/ Liz Kirchner |
|
+44 (0) 20 3328 5656 |
Ewan Leggat/ Richard Parlons |
SP Angel (Joint Broker) |
+44 (0) 20 3470 0470 |
Peter Krens/Nick Orgill |
|
+44 (0) 20 3167 7150 |
Lottie Wadham/Susie Geliher |
|
+44 (0) 20 7236 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.
Dr Forster has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the
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