West African gold explorer Cora Gold has declared a maiden pit constrained mineral resource estimate for its Sanankoro gold project in southern Mali.
Mali – The mineral resource estimate, prepared in accordance with the JORC 2012 Code by independent consultants SRK Consulting (UK), is an initial step in determining the overall potential of Sanankoro, which has a 1-2 Moz exploration target within 100 m of surface.
The maiden pit constrained maiden inferred mineral resource for Sanankoro is 5 Mt grading at 1.6 g/t of gold for 265 000 oz of gold, reconfirms the SRK derived exploration target of between 30 Mt and 50 Mt at a grade of between 1 and 1.3 g/t of gold, for approximately 1-2 Moz of gold, originally derived by SRK in 2018.
The mineral resource estimate is based on under 25% of the total 40 km strike length of the potential mineralised zones identified to date with the majority (88%) of the inferred mineral resource derived from oxide material.
The mineralisation was encountered up to 170 m in depth with the current pits extending to a maximum depth of 130 m, therefore offering significant upside potential.
“The initial mineral resource estimate for Sanankoro was focused on the oxide, starter-pit, potential of the project, targeting the opportunity for a low-cost mining operation,” says Cora Gold CEO Jonathan Forster.
“This estimate is the first step in defining the overall oxide potential at the Project, where to date less than a quarter of the 1-2Moz SRK exploration target has been tested. We have also been able to include a small amount of sulphide material in the mineral resource estimate, confirming our belief that exploration expansion into the sulphide zones could provide significant future upside.
“We remain on track to deliver an initial Scoping Study this quarter. This study will assist in de-risking the project by establishing the framework for understanding the economics of a future mine development and also provide guidance for the on-going exploration programmes to maximise the delineation of further economic mineralisation,” Forster concludes.