West Africa-focussed Cora Gold announced the ninth set of drill results from its largest-ever drilling campaign at the Sanankoro Gold Project in southern Mali on Wednesday – the first from the second phase programme at Selin, targeting drilling below the existing pit shell, which has an average depth of 65 metres, into the transitional and fresh rock.
The AIM-traded firm said it intersected “extremely strong” mineralisation in both grades and widths below the base of the existing pit shell, which it said was “very encouraging” for the future development of the deposit.
It highlighted 49 metres at 15.55 grams of gold per tonne, including eight metres at 89.12 grams per tonne from 99 metres, in hole SC0484, as well as 32 metres at 7.83 grams per tonne, including four metres at 53.86 grams per tonne from 45 metres, in hole SC0488.
The results also included 12 metres at 6.37 grams of gold per tonne, including five metres at 14.17 grams per tonne from 95 metres in hole SC0485, 32 metres at 3.25 grams per tonne, including four metres at 10.18 grams per tonne from 72 metres in hole SC0488, and 36 metres at 1.65 grams per tonne from 88 metres in hole SC0487.
Cora said many of the intercepts were outside existing pit shells, adding that an additional new mineral zone was intercepted within an existing pit shell.
The results were from the first 700 metres of the 3.2 kilometre-long Selin target.
“49 metres at 15.55 grams of gold per tonne and 32 metres at 7.83 grams per tonne are two further fantastic holes from the ongoing drill programme at Sanankoro,” said chief executive officer Bert Monro.
“Even more significantly, the objective of this drilling has been to extend the existing 65 metre average depth pit shells at Selin deeper, and these initial results provide a great deal of encouragement as we target an updated resource at the end of this programme.”
At 1425 BST, shares in Cora Gold were up 29.65% at 14.91p.