West African focused gold explorer Cora Gold has completed the stage 1 reconnaissance drill programme at its flagship Sanankoro gold discovery in southern Mali and is awaiting assay results.
It said 29 drill holes were completed for nearly 2,800m of mixed aircore and reverse circulation drilling ranging between 68m and 140m in length.
It said 27 drill holes were completed at Sanankoro Target 1 over a strike length of nearly 3km and two drill holes at Sanankoro Zone A.
It said visible gold was observed in many holes indicating widespread mineralisation along the structures and assay results were expected before the end of January.
- New structure (Zone C) located to the west of Zones A and B has been identified through mapping of artisanal sites and surface sampling
- Stage 2 drilling commencing with 4,000m of combined RC/AC and 500m of diamond core focusing on Sanankoro Zones A, B and C
- New, highly prospective, drill ready targets identified at Tekeledougou project (about 60 km south of Sanankoro), located within 8km of Hummingbird Resources' producing Yanfolila Plant. Drilling at Tekeledougou is targeted by end of Q1 2018
Chief executive Dr Jonathan Forster said: 'We are very pleased with the progress of the drill programme at Sanankoro to date.
'The presence of visible gold in many of the drill holes along nearly 3km of strike is particularly encouraging as is the visual identification of key lithologies that appear to host gold mineralisation.
'I look forward to reporting the initial assay results which are targeted by the end of January 2018.
'We are now commencing Stage 2 of the drilling campaign, focusing on connecting Zones A and B into a single larger zone as well as completing the first stages of exploration at Zone C, a potential parallel repetition of these structures to the west. Zone C is a new structure identified by field work during Stage 1 of the drill programme. "In addition, we have identified two extremely promising targets at our Tekeledougou project within the Yanfolila project area, which will be prioritised for reconnaissance drilling towards the end of Q1 2018.
'They represent exciting prospects over large, already identified strike lengths, within close proximity to Hummingbird Resources' now operational Yanfolila Mine and Plant.'
At 8:07am: (LON:CORA) Cora Gold Limited Ord Npv Di share price was +1.15p at 16.65p