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Mali drilling results boost Cora Gold

West Africa-focused miner Cora Gold’s latest drilling results for its Sanankoro gold discovery in southern Mali will be a comfort to the company’s management.
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Cora Gold's Mali results provided a small boost to the company's share price

Highlights from the company's final drill results include 21 metres at 3.13g/t, 24m at 1.8g/t, 22m at 1.48g/t and 25m at 1.13g/t from different holes. The drill programme tested the gold zone to a maximum depth of about 70m with the depth of oxidation generally between 50-70m.

"These drill results have provided great encouragement regarding the extent of gold mineralisation at length across the Sanankoro gold discovery," said Cora Gold chief executive Jonathan Forster.

The results were from a 771m aircore and reverse circulation drill program at Zone B North, a direct extension of the 1,500m long Zone B prospect, one of the three main prospects on the 14 km long Sanankoro site.

"Zone B North appears to be the extension of the Zone B prospect, giving a total potential mineralised strike length of 3,500 metres," said Forster. "Evidence from artisanal exploitation and surface anomalies suggest that further extension to the north could be possible giving a total potential strike length of more than 5,000 metres.

"Factoring in the along strike mineralisation at the Zone A and Selin prospects, then the scale of the gold structure at Sanankoro is substantial.  With the depth of oxides typically ranging from 50-100 metres, the potential for near surface exploitation is high. With the wet season coming to an end,  our exploration teams will remobilise to site as soon as is practical and I look forward to updating shareholders with details of upcoming work programmes in due course."

Cora Gold shares were trading at 7.74p as the London market opened on Monday, up from 7.25p on Friday. The company's shares have increased since May, when they were worth 2.85p. Its market capitalisation is £7.71 million.