Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
09 April 2020
Cora Gold Limited ("Cora Gold", "Cora" or "the Company")
Update re COVID-19
Cora Gold Limited, the West African focused gold company, provides an update to its response to the global COVID-19 outbreak. As previously outlined in the Company's announcement dated 25 March 2020, Cora regards the health and safety of its employees and contractors as its highest priority. In line with this, and following advice received from the Senegalese Government, Cora has suspended its current drill programme at the Madina Foulbé Permit (the "Permit") in eastern Senegal.
The situation in the country continues to evolve, and the Board will continue to review its response to COVID-19 to ensure the wellbeing of its staff and the business is safeguarded. The Company looks forward to recommencing and completing its drill programme as soon as it is appropriate and practical to do so.
Cora commenced its planned c. 2,000m Reverse Circulation ('RC') drill programme on 30 March 2020 and to date 642m of the programme has been completed. All drilled samples from this programme are either in, or en route to the laboratory for assay analysis at this time and the Company looks forward to releasing these results when received in due course.
Field work continues in Mali at the Sanankoro Project Area in the Yanfolila Gold Belt, Southern Mali. Cora will continue to follow its strict protocols to reduce the risk of transmission of COVID-19 at the Company's operating field camps. The Company will continue to review this situation and will make further updates as appropriate.
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For further information, please visit http://www.coragold.com or contact:
Bert Monro / Jon Forster
Cora Gold Limited
+44 (0) 20 3239 0010
Ewan Leggat / Charlie Bouverat
(Nomad & Joint Broker)
+44 (0) 20 3470 0470
Andy Thacker / Zoe Alexander
Turner Pope Investments
+44 (0) 20 3657 0050
Megan Dennison / Susie Geliher
St Brides Partners
+44 (0) 20 7236 1177
Cora Gold is a 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's primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (Southern Mali), which Cora believes has the potential for a standalone mine development. Sanankoro has a positive Scoping Study published on it showing an 84% IRR and US$30.9m NPV at a US$1,400 gold price. Cora's highly experienced management team has a proven track record in making multi-million-ounce gold discoveries, which have been developed into operating mines.