West Africa focused gold company Cora Gold has discovered a new 1.5 km gold zone at its flagship Sanankoro gold project in Mali.
This follows results from a reconnaissance aircore drilling programme at the Bokoro II permit, which borders the Sanankoro permit to the East. The objective of this reconnaissance exploration was to test for new zones of potentially near surface economic gold mineralisation within a 5 km radius of the main focus of the existing Sanankoro deposits.
First pass shallow reconnaissance drilling at Bokoro discovered a new gold zone about 1 500 m to the south of the Selin deposit, which has a current resource of 108 000 oz of gold grading at 1.8 g/t that has been delineated over about 2 200 m of strike length.
Drilling was focused on two areas of extensive historical artisanal mining where 67 shallow might lie within a 5 km radius of the main focus of the Sanankoro deposits.
A westerly structure was also investigated in areas of additional artisanal mining, where earlier in-house rotary airblast drilling indicated the presence of a gold bearing structure.
The results of the programme confirmed the broad extent of near surface, anomalous levels (0.1-0.3 g/t) of gold lying immediately below the ferricrete cap in the mottled zone of the heavily weathered saprolite. Importantly, two primary “feeder” gold structures are interpreted from results over some 900 m of strike length in the northern zone and a single structure over some 600 m in the south. Geophysical anomalies derived from a previous ground induced polarisation survey underlie the primary structures and potentially could link the north and south drilled zones over the undrilled gap of some 400 m.
The newly discovered primary structures appear to correlate well from drill fence to fence, generally 3-12 m intercept length, and variable grade, 0.6-7.4 g/t of gold, which includes a very high-grade intercept of 27.1 g/t of gold over 2 m. This variability is not uncommon in the near surface environment. The combination of apparent continuity and potentially economic grade provides encouragement for future programmes.
“These results are extremely positive given that it is the first time the Bokoro permit has been systematically drilled by Cora, with the programme achieving its objective by successfully delineating a 1.5 km gold zone that lies close to Selin, one of our existing deposits,” says Cora Gold CEO Bert Monro.
“With many similar oxide targets remaining within the project area in close proximity to the defined resources, upside oxide potential remains significant, even before considering the future potential for the deeper sulphide mineralisation.
“Cora remains focused on the Sanankoro gold project, and with a very positive scoping study and a recently signed US$21 million term sheet with Lionhead Capital to support its future development on completion of a definitive feasibility study this continues to be a very exciting time for the company,” says Monro.
In addition to its flagship Sanankoro gold discovery, where the company has signed a US$21 million mandate and term sheet with investment firm, Lionhead Capital Advisors, to fund the future development of the project, the portfolio also includes the Yanfolila and Diangounte project areas that cover 577 km2 between them.