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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cora Gold Limited | LSE:CORA | London | Ordinary Share | VGG2423W1077 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.30 | 2.20 | 2.40 | 2.30 | 2.30 | 2.30 | 33,363 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 0 | -2.51M | -0.0068 | -3.38 | 8.52M |
From Apr 2022 to Apr 2024
TIDMCORA
RNS Number : 8314L
Cora Gold Limited
18 May 2022
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
18 May 2022
Cora Gold Limited ('Cora' or 'the Company')
Second Drill Results from 2022 Drill Campaign
Cora Gold Limited, the West African focused gold company, is pleased to announce the second set of drill results from its recently completed 2022 drill programme at the Company's Sanankoro Gold Project ('Sanankoro' or the 'Project') in southern Mali.
Highlights
Hot Features
Premium
-- Reverse Circulation ('RC') drilling highlights from Zone B North:
o 17m @ 2.85 g/t gold ('Au') from 81m in hole SC0616
o 11m @ 1.99 g/t Au from 31m in hole SC0608
o 11m @ 1.35 g/t Au from 53m in hole SC0612
o 31m @ 0.97 g/t Au from 15m in hole SC0615
-- Including 4m @ 2.18 g/t
o 11m @ 1.29 g/t Au from 10m in hole SC0618
-- All Zone B North RC holes have now been released and RC assay results from Selin, Fode 1 and Target 6 will be released in the coming weeks
-- Drill programme consisted of 11 aircore ('AC') shallow holes for 897m and 78 RC holes for a total of 6,992m (4,958m at Zone B North; 1,092m at Selin South, 504m at Fode 1 and 438m at Target 6)
-- Drilling targeted both converting existing Inferred Mineral Resources to Indicated Mineral Resources, as well as identifying new discoveries at Sanankoro.
Bert Monro, Chief Executive Officer of Cora, commented, "The latest results from Zone B North once again show shallow oxide mineralisation of good widths and grade. 17m at 2.85 g/t Au is a very positive drill hole as we target upgrading the Zone B North deposit to Indicated Resources. We look forward to releasing the results from the final phase of the programme, which focussed on Selin and follow-up holes at the new discoveries at Fode 1 and Target 6, in the coming weeks."
To view the RNS with illustrative diagrams and maps, please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8314L_1-2022-5-17.pdf
Sanankoro Gold Project Map
Figure 1: Map showing the locations of the deposits and discoveries at the Sanankoro Gold Project
Background on the Geology
Sanankoro is located on the leading western edge of the Yanfolila-Kalana Volcanic Belt, which is the western-most expression of the cratonic Baoulé-Mossi domain, on the major transcrustal margin with the Siguiri Basin. There is major deep-seated structural architecture across the district which links the major gold mines at Siguiri, Lero, Tri-K, Kalana and Yanfolila.
On a project scale, Sanankoro is characterised by the 2km wide Sanankoro Shear Zone, which can be traced over 30 km from Kabaya South in the western Yanfolila Mine to north of the Niger River beyond Selin and onto Karan. Within the project area, each of the prospects are underpinned by a strong linear parallel, and where strong mineralisation is developed, a pronounced localised NE-SW focused zone of en-echelon veining and associated sulphide development.
Selin Geology
Selin is hosted on the eastern margin of the Sanankoro Shear Zone in the north-eastern corner of the Sanankoro permit. The Selin deposit has a typical interference node control but with the additional positive impact of a strong, rheological diorite intrusive host. The gold geology at Selin is anchored along this linear, en-echelon or possibly folded, diorite igneous intrusive which cores the volcaniclastic thrust assemblage and focuses the gold deposition.
Recent core drilling into Selin has enlightened the genetic model for this deposit by discovering 4-6 multiple early/pre-D3 dykes of diorite intruding the 65-80deg W dipping axial trace of a western hanging-wall F3 anti-form on this major reactivated D2 east-verging thrust. The >100m wide Selin Shear Zone may be a regional back-thrust and the dominant eastern margin of the regional west-verging Sanankoro thrust. The largest diorite unit is demonstrably discordant and sits immediately west and adjacent to a major early ductile, 10-30m wide footwall carbonaceous shear. Progressive deformation has folded, warped and possibly cross-faulted the diorite units prior to gold deposition. The early footwall shear fabrics are overprinted by later semi-brittle to brittle graphitic faults which locally convert all protolith to graphitic schist on sub-metre scale. The diorite units exhibit multi-phase veining interference and sulphide development. The dominant sulphide is pyrite with occasional arsenopyrite and a scattering of chalcopyrite. Alteration minerals are predominantly sericite, silica, fuchsite, ankerite, graphite and calcite.
Zone A, Zone B and Zone C Geology
Zone A is the second major deposit at Sanankoro behind Selin and shores up the southern limit of the 11.5km mineralised corridor, which forms the backbone to the Sanankoro Project. Zone A is the southernmost expression of the 010(o) trending central axis of the Sanankoro Shear Zone, which is located 900m west of the Selin Boundary Shear and hosts the 5.8km chain of deposits from Zone A through Zone B to Zone B North. The deposits of this central trend verge westward mimicking the regional sense of thrusting.
Zone B is the third major deposit at Sanankoro behind Selin and Zone A. It is the strike extension of Zone A, located 800m to the north. The Sanankoro Main Trend strikes for 6km from the south end of Zone A to the north end of Zone B North. Detailed sectional drilling is required along the length of this major generative gold system. The local structural facing and stratigraphy of Zone B is very similar to Zone A with the western footwall sequences hosting more crystalline volcanic tuffaceous units and the eastern, hanging wall assemblages being more basinal sediments. Zone B hosts an impressive scale of hydrothermal activity and the broad horizontal widths of mineralisation observed in the recent drilling bodes well for future discovery potential along the central and southern sections of the Sanankoro Main Shear Zone (SMSZ).
Zone C is located 650m southwest of Zone A on the parallel, +7km long Sanankoro West Shear Zone (SWSZ) which can be traced along a chain of surface workings to the Excavator Prospect, 1.5km NNW of Zone B North.
Zones A, B and C deposits are identical in style and typical of Siguiri Basin Deposits, fold-thrust controlled within pelitic and psammitic sediments and very deeply weathered (>120m from surface). There is a highly evolved weathering profile with a pronounced 8-10m thick duricrust-laterite ferro-cap, grading downward into a well-developed mottled zone until 20-25m and remains highly weathered until beyond 130m vertically within the central mineralised fault zone. Below the saprolite lies a 35-40m thick transition zone ending on top of fresh rock at between 160 to 170m.
All of the host oxide lithologies are weathered to kaolin with only highly corroded quartz vein material remaining in-situ to mark the main gold faults. Diamond core shows the host lithologies to be predominantly variably grained basinal pelites and sandstones with minor horizons of small quartz clast, matrix-supported greywacke inter-bedded within the sequence. A minor intercept of diorite has been identified but does not form an important control to the mineralisation currently drill tested at Zone A or C. The primary sulphide is pyrite disseminated around central vein networks and enveloped by a broader hydrothermal halo of silica flooding, sericite and ankerite.
Intersections
The intersections have been calculated using a 0.4 g/t Au cut-off over a minimum 1m sample length. An allowance of 2m of internal material, below cut-off grade, is included where required. Lengths are apparent in nature and are therefore not true widths of the mineralisation.
All samples were sent for 2kg bottle roll analysis at ALS Laboratories with results supported by QAQC analysis.
Intersections are reported according to JORC 2012 guidelines.
Figure 2 : Plan view of Zone B North showing section lines (see Figure 3, Figure 4 and Figure 5)
The conceptual interpretation of mineralisation (Figure 3, Figure 4 and Figure 5) was made using a 0.2 g/t Au threshold i.e., the same threshold used for the Mineral Resource (November 2021). This interpretation is for illustrative purposes only and does not represent a volume or domain that will be used for Mineral Resource reporting purposes in future. The conceptual interpretation illustrates a thickening of the mineralisation in places, resulting in certain drill holes ending in mineralisation. This will be further investigated as more results become available from the 2022 drilling programme.
Figure 3 : Cross section 1 looking south at Zone B North showing new drill hole traces and samples relative to a conceptual interpretation of the mineralisation.
Figure 4: Cross section 2 looking south at Zone B North showing new drill hole traces and samples relative to a conceptual interpretation of the mineralisation.
Figure 5: Cross section 3 looking south at Zone B North showing new drill hole traces and samples relative to a conceptual interpretation of the mineralisation.
Table 1 : RC drill intercepts from the on-going 2022 drill programme.
Hole Easting Northing From Intercept Including Prospect
(m)
11 m @ 1.99 1 m @ 7.84 g/t & 1 Zone B
SC0608 558625 1300210 31.00 g/t m @ 8.86 g/t North
---------
9 m @ 0.80 Zone B
SC0608 558625 1300210 50.00 g/t 1 m @ 3.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
7 m @ 0.59 Zone B
SC0609 558612 1300253 7.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.42 Zone B
SC0609 558612 1300253 30.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 19.28 Zone B
SC0609 558612 1300253 38.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.49 Zone B
SC0610 558620 1300295 12.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
8 m @ 0.56 Zone B
SC0610 558620 1300295 22.00 g/t 1 m @ 1.51 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.50 Zone B
SC0610 558620 1300295 35.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 1.78 Zone B
SC0610 558620 1300295 40.00 g/t 2 m @ 3.21 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.45 Zone B
SC0611 558645 1300295 47.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.45 Zone B
SC0611 558645 1300295 52.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 2.09 Zone B
SC0611 558645 1300295 58.00 g/t 1 m @ 2.78 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
6 m @ 0.93 Zone B
SC0611 558645 1300295 66.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.40 Zone B
SC0611 558645 1300295 78.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.53 Zone B
SC0612 558625 1300330 8.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
11 m @ 1.35 Zone B
SC0612 558625 1300330 22.00 g/t 1 m @ 8.57 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
6 m @ 1.06 Zone B
SC0612 558625 1300330 36.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.99 Zone B
SC0612 558625 1300330 55.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.58 Zone B
SC0613 558652 1300330 28.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.81 Zone B
SC0613 558652 1300330 38.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.80 Zone B
SC0613 558652 1300330 46.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 1.95 Zone B
SC0613 558652 1300330 59.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 0.53 Zone B
SC0613 558652 1300330 73.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 3.55 Zone B
SC0613 558652 1300330 83.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
7 m @ 0.70 Zone B
SC0614 558676 1300327 102.00 g/t 1 m @ 1.73 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.37 Zone B
SC0615 558637 1300357 9.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
31 m @ 0.97 4 m @ 2.18 g/t & 1 Zone B
SC0615 558637 1300357 15.00 g/t m @ 2.18 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.56 Zone B
SC0615 558637 1300357 49.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 2.52 Zone B
SC0615 558637 1300357 56.00 g/t 1 m @ 2.92 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.47 Zone B
SC0616 558661 1300365 38.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.95 Zone B
SC0616 558661 1300365 64.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
7 m @ 3.66 Zone B
SC0616 558661 1300365 71.00 g/t 4 m @ 5.51 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
17 m @ 2.85 2 m @ 2.86 g/t & 2 Zone B
SC0616 558661 1300365 81.00 g/t m @ 17.13 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
11 m @ 1.29 Zone B
SC0618 558656 1300413 10.00 g/t 2 m @ 2.83 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
8 m @ 1.42 Zone B
SC0618 558656 1300413 26.00 g/t 1 m @ 4.79 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 7.19 Zone B
SC0618 558656 1300413 38.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 1.74 Zone B
SC0618 558656 1300413 47.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.60 Zone B
SC0618 558656 1300413 66.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.55 Zone B
SC0618 558656 1300413 76.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 1.21 Zone B
SC0619 558671 1300416 50.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.88 Zone B
SC0619 558671 1300416 69.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
6 m @ 0.66 Zone B
SC0619 558671 1300416 94.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 3.81 Zone B
SC0620 558701 1300416 1.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.67 Zone B
SC0620 558701 1300416 40.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.42 Zone B
SC0620 558701 1300416 138.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
9 m @ 0.75 Zone B
SC0621 558639 1300468 9.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 7.65 Zone B
SC0621 558639 1300468 54.00 g/t 1 m @ 13.37 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.69 Zone B
SC0621 558639 1300468 59.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.60 Zone B
SC0621 558639 1300468 69.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.41 Zone B
SC0622 558668 1300466 15.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
6 m @ 1.13 Zone B
SC0622 558668 1300466 30.00 g/t 1 m @ 2.97 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
5 m @ 0.68 Zone B
SC0622 558668 1300466 41.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 1.25 Zone B
SC0622 558668 1300466 51.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
9 m @ 0.58 Zone B
SC0622 558668 1300466 105.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 1.23 Zone B
SC0623 558699 1300466 109.00 g/t 1 m @ 3.20 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 1.99 Zone B
SC0623 558699 1300466 116.00 g/t 2 m @ 2.72 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.78 Zone B
SC0623 558699 1300466 127.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.63 Zone B
SC0624 558641 1300503 40.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.96 Zone B
SC0624 558641 1300503 44.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.45 Zone B
SC0625 558671 1300500 20.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 5.09 Zone B
SC0625 558671 1300500 25.00 g/t 1 m @ 9.44 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.45 Zone B
SC0625 558671 1300500 31.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.97 Zone B
SC0625 558671 1300500 37.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.91 Zone B
SC0625 558671 1300500 45.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 1.57 Zone B
SC0625 558671 1300500 51.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 0.43 Zone B
SC0625 558671 1300500 59.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.69 Zone B
SC0626 558706 1300501 100.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 1.67 Zone B
SC0627 558620 1300552 8.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
6 m @ 1.08 Zone B
SC0627 558620 1300552 15.00 g/t 1 m @ 2.03 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 2.64 Zone B
SC0627 558620 1300552 25.00 g/t 1 m @ 4.30 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 2.36 Zone B
SC0627 558620 1300552 31.00 g/t 1 m @ 4.91 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
9 m @ 0.80 Zone B
SC0628 558660 1300551 9.00 g/t 1 m @ 3.32 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
5 m @ 1.11 Zone B
SC0628 558660 1300551 23.00 g/t 1 m @ 2.22 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 2.84 Zone B
SC0628 558660 1300551 39.00 g/t 2 m @ 5.15 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 0.45 Zone B
SC0628 558660 1300551 53.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.45 Zone B
SC0628 558660 1300551 67.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.75 Zone B
SC0629 558688 1300550 12.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 2.48 Zone B
SC0629 558688 1300550 35.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.95 Zone B
SC0629 558688 1300550 46.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.67 Zone B
SC0629 558688 1300550 53.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.73 Zone B
SC0629 558688 1300550 57.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.63 Zone B
SC0629 558688 1300550 64.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 2.36 Zone B
SC0629 558688 1300550 76.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.77 Zone B
SC0630 558648 1300585 27.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.54 Zone B
SC0630 558648 1300585 38.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 1.36 Zone B
SC0630 558648 1300585 42.00 g/t 1 m @ 2.75 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.40 Zone B
SC0631 558669 1300585 17.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.72 Zone B
SC0631 558669 1300585 19.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.66 Zone B
SC0631 558669 1300585 29.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
3 m @ 0.36 Zone B
SC0631 558669 1300585 45.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.41 Zone B
SC0632 558672 1300638 13.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.48 Zone B
SC0632 558672 1300638 19.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.51 Zone B
SC0632 558672 1300638 37.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.91 Zone B
SC0632 558672 1300638 50.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 1.07 Zone B
SC0632 558672 1300638 57.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 0.53 Zone B
SC0633 558697 1300634 11.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.57 Zone B
SC0633 558697 1300634 21.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.99 Zone B
SC0633 558697 1300634 29.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 3.65 Zone B
SC0633 558697 1300634 34.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 2.30 Zone B
SC0633 558697 1300634 39.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
7 m @ 1.00 Zone B
SC0633 558697 1300634 47.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
6 m @ 0.89 Zone B
SC0633 558697 1300634 72.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
1 m @ 0.62 Zone B
SC0634 558661 1300672 17.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
2 m @ 1.05 Zone B
SC0635 558686 1300671 12.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
4 m @ 0.90 Zone B
SC0635 558686 1300671 39.00 g/t North
-------- -------- --------- ------- ------------ ------------------- ---------
Competent Person's statement
The information in this release that relates to Exploration Results was reviewed by Mr Anton Geldenhuys, a Competent Person who is a Member of the South African Council for National Scientific Professions (SACNASP). Mr Geldenhuys (Principal Resource Consultant) is an independent consultant with CSA Global and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Geldenhuys consents to the inclusion in this release of the Exploration Results in the form and context in which it appears. Mr Geldenhuys confirms that the information contained in the Appendix of this release that relates to the reporting of Exploration Results at Sanankoro is an accurate representation of the available data. In addition, Mr Anton Geldenhuys qualifies as a Competent Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.
2022 Annual General Meeting ('AGM')
The Company always welcomes questions from its shareholders at its general meetings. In relation to the AGM to be held online at 12.00 p.m. (United Kingdom time) on 21 June 2022, the board of directors of the Company requests shareholders submit their questions in advance to ensure all questions can be compiled and answered either at the AGM or afterwards. Questions should be submitted by email to secretary@coragold.com no later than 12.00 p.m. (United Kingdom time) on 17 June 2022. For details on how attendees may join the AGM, see the announcement of 16 May 2022.
Market Abuse Regulation ('MAR') Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.
**S**
For further information, please visit http://www.coragold.com or contact:
Bert Monro Cora Gold Limited info@coragold.com Craig Banfield Christopher Raggett / Charlie finnCap Ltd +44 (0) 20 7220 Beeson (Nomad & Joint Broker) 0500 Andy Thacker Turner Pope Investments +44 (0) 20 3657 James Pope (Joint Broker) 0050 Susie Geliher / Charlotte St Brides Partners pr@coragold.com Page/ Selina Lovell (Financial PR)
Notes
Cora is an emerging West African gold developer with three principal de-risked project areas within two known gold belts in Mali and Senegal covering c.1,000 sq. km. Led by a team with a proven track record in making multi-million-ounce gold discoveries that have been developed into operating mines, its primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt, Southern Mali, where Cora hopes to commence construction of an open pit oxide focussed gold mine in 2022. An updated mineral resource estimate on the Project was published in November 2021 which increased the Resources by over 200% (from the 2019 Maiden resource) to 809,300oz Au. A Definitive Feasibility Study is expected to be completed in H1 2022.
Appendix - JORC Code (2012) Edition, Table 1
Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
--------------------- ----------------------------------------------------------------------------
Sampling Nature and quality This 2021/2022 phase of drilling is
techniques of sampling (e.g. cut composed of 6,993 m of RC and 897
channels, random m of aircore (AC) drilling.
chips, RC was ubiquitously sampled on 1 m
or specific intervals. Each rod string is 6 m
specialised in length and is checked and marked
industry standard with grease every 1 m to allow personnel
measurement to observe sampling and drill progress.
tools appropriate to The driller will sound a horn at the
the minerals under end of each 1 m interval, warning
investigation, such the samplers to switch bags at the
as downhole gamma cyclone.
sondes, All industry standard RC sample quality
or handheld XRF procedures were applied, and each
instruments, shift a geologist was present to ensure
etc.). These examples sample quality was maintained, holes
should not be taken were not stopped in mineralisation
as limiting the broad and activity reporting monitored cost
meaning of sampling. control. No detailed logging or sampling
Include reference was conducted at the rigs.
to measures taken to All bulk 1 m samples were transported
ensure sample immediately upon hole completion to
representivity a central bag farm next to the Sanankoro
and the appropriate camp. No samples were left in the
calibration of any field. All samples drilled were shipped
measurement tools or to the bag farm for splitting and
systems used. logging under controlled and secured
Aspects of the conditions.
determination The 1 m bulk samples are riffle split
of mineralisation down to 5-6 kg using a three-tier
that 75:25 riffle splitter and a duplicate
are Material to the pair of 2-3 kg samples are then generated
Public Report. using a two-tier 50:50 riffle splitter.
In cases where One sample is sent to the lab and
'industry the duplicate is stored for any future
standard' work has re-assay or reference.
been done this would All RC holes are photographed on chip
be relatively simple tables and chip trayed after sampling
(e.g. 'reverse and logging.
circulation All RC holes are geologically logged
drilling was used to and panned for visible gold on
obtain 1 m samples 1 m intervals concurrently with sampling.
from which 3 kg was The logging and panning results dictate
pulverised to produce whether the logging or senior geologist
a 30 g charge for will instruct compositing in less
fire favourable intersections of a hole.
assay'). In other Composites of 4 m are possible in
cases, barren intersections.
more explanation may The RC samples were sent to an accredited
be required, such as laboratory where they were pulverised
where there is coarse to 85% passing 75 micron in a Labtechnics
gold that has LM2 puck pulveriser and sub-sampled
inherent to provide 2 kg for CN bottle roll
sampling problems. and/or a 50 g aliquot for fire assay.
Unusual commodities Bottle roll is the preferred assaying
or mineralisation method for oxide materials and fire
types assay for fresh or sulphide-rich material.
(e.g. submarine AC was sampled and analysed as per
nodules) the RC procedure.
may warrant
disclosure
of detailed
information.
----------------- --------------------- ----------------------------------------------------------------------------
Drilling Drill type (e.g. RC was drilled using a 5(3/8) " face-sampling
techniques core, hammer.
reverse circulation, All drilling details and dates are
open-hole hammer, recorded on hole logs and are stored
rotary in the COLLAR file in DATASHED(TM).
air blast, auger,
Bangka,
sonic, etc.) and
details
(e.g. core diameter,
triple or standard
tube, depth of
diamond
tails, face-sampling
bit or other type,
whether core is
oriented
and if so, by what
method, etc.).
----------------- --------------------- ----------------------------------------------------------------------------
Drill sample Method of recording RC was drilled using a 5(3/8) " face-sampling
recovery and assessing core hammer leading a 4(1/2) " standard
and chip sample rod string. Auxiliary booster-compressor
recoveries air packs were used on deeper holes,
and results assessed. normally >110 m, to ensure dry sample
Measures taken to quality and recovery.
maximise sample The RC drilling was sampled on a standard
recovery 1 m interval and recoveries assessed
and ensure quantitively by weighing each sampled
representative metre. A total of 6,698 RC samples
nature of the and 844 AC weights were recorded during
samples. this drilling campaign in 2021/2022.
Whether a The practice of weighing drill chip
relationship samples immediately from recovery
exists between sample at the rig is Cora Gold Limited (Cora
recovery and grade Gold) standard practice for all AC
and whether sample and RC drilling.
bias may have Sample quality and recovery are monitored
occurred at the rig during drilling shift both
due to preferential observationally by the geologist checking
loss/gain of the moisture content, possible contamination
fine/coarse and relative recovery along the bag
material. line and quantitively by weighing
each of the bulk 1 m samples direct
from the cyclone before layout.
RC recoveries are logged and recorded
in the database. Overall recoveries
are >70% for the RC; there are no
significant sample recovery issues.
A geologist is always present at the
rig to monitor and record sample quality.
----------------- --------------------- ----------------------------------------------------------------------------
Logging Whether core and chip All RC holes are logged, panned and
samples have been sampled on a standard 1 m resolution.
geologically Every 1 m drilled is logged and panned
and geotechnically before being sampled.
logged to a level of 4 m compositing may be instructed
detail to support in barren sections of drilled hole
appropriate based on the results of the detailed
Mineral Resource logging.
estimation, All RC holes are photographed on chip
mining studies and tables and chip trayed after sampling
metallurgical and logging.
studies.
Whether logging is
qualitative or
quantitative
in nature. Core (or
costean, channel,
etc.)
photography.
The total length and
percentage of the
relevant
intersections logged.
----------------- --------------------- ----------------------------------------------------------------------------
Subsampling If core, whether cut All AC and RC chip samples were weighed,
techniques or sawn and whether and riffle split to 2-3 kg for submission
and sample quarter, half or all to the lab. All AC and RC holes are
preparation core taken. sampled in bulk, logged and panned
If non-core, whether on a standard 1 m interval. Compositing
riffled, tube to 4 m may occur in barren geology.
sampled, A standard 5:25 sample QAQC was used
rotary split, etc. throughout the 2021/2022 programme,
and whether sampled composed of one standard, one blank,
wet or dry. two duplicates, and one triplicate.
For all sample types, Assay batches had a routine 20% QAQC
the nature, quality component.
and appropriateness The database manager monitors all
of the sample sampling and QAQC vetting of the assay
preparation batches.
technique. Field duplicates assist in determining
Quality control the representivity of subsamples.
procedures QC category ratios QC category DH sample QC sample Ratio of
adopted for all count count QC samples
subsampling to DH samples
stages to maximise ---------- ---------- ---------------
representivity of Field duplicate 5,101 471 1:11
samples. ------------------- ---------- ---------- ---------------
Measures taken to Triplicate
ensure that the (Second
sampling Field duplicate) 5,101 213 1:24
is representative of ------------------- ---------- ---------- ---------------
the in-situ material
collected, including Subsamples are deemed appropriate
for instance results for the reporting of Exploration Results.
for field
duplicate/second-half
sampling.
Whether sample sizes
are appropriate to
the grain size of the
material being
sampled.
----------------- --------------------- ----------------------------------------------------------------------------
Quality The nature, quality Sample preparation involved oven drying,
of assay and appropriateness jaw crushing core P70 passing 2 mm,
data and of the assaying and followed by total pulverisation through
laboratory laboratory procedures an LM2 puck pulveriser to a nominal
tests used and whether the 85% passing 75 microns.
technique is Historically it has been proven that
considered the nuggety, highly weathered nature
partial or total. of the Sanankoro oxide mineralisation
For geophysical is best head assayed by 2 kg bottle
tools, roll/atomic absorption spectrometry
spectrometers, (AAS) with a 50 g fire assay/AAS on
handheld the bottle roll tail residue on all
XRF instruments, etc, samples with Au values greater than
the parameters used 0.1 g/t Au. The bulk of the assay
in determining the database is completed by this method.
analysis including A total of 29,899 bottle roll (Leachwell)
instrument make and assays were reported with 7,561 fire
model, reading times, assay/AAS tails.
calibrations factors A standard 5:25 sample QAQC was used
applied and their throughout the programme, composed
derivation, of one standard, one blank, two duplicates,
etc. and one triplicate. The assay batches
Nature of quality had a routine 20% QAQC component.
control procedures Standard type ratios Standard DH sample Standard Standard Ratio
adopted (e.g. type count type sample of QC
standards, count count standard
blanks, duplicates, to DH
external laboratory samples
checks) and whether ---------- --------- --------- ----------
acceptable levels of BLANK 5,101 1 285 1:18
accuracy (i.e. lack ---------- ---------- --------- --------- ----------
of bias) and CRM 5,101 5 241 1:21
precision ---------- ---------- --------- --------- ----------
have been
established. Certified reference material (CRM)
standards were sourced from accredited
suppliers Rocklabs. Standard Expected Expected No. of Supplier
code value standard samples
deviation
--------- ----------- --------- ---------
OXG140 1.019 0.022 43 Rocklabs
---------- --------- ----------- --------- ---------
OXK160 3.674 0.078 42 Rocklabs
---------- --------- ----------- --------- ---------
SJ111 2.812 0.068 26 Rocklabs
---------- --------- ----------- --------- ---------
SH98 1.400 0.028 26 Rocklabs
---------- --------- ----------- --------- ---------
OXL159 5.349 0.139 74 Rocklabs
---------- --------- ----------- --------- ---------
Following review of the QAQC, the
data are deemed appropriate for the
reporting of Exploration Results.
----------------- --------------------- ----------------------------------------------------------------------------
Verification The verification of The Competent Person has visually
of sampling significant verified some significant RC intersections
and assaying intersections during the site visit related to the
by either independent Mineral Resource in 2021.
or alternative Geology and sampling data were logged
company into Microsoft Excel format templates
personnel. and sent via email to the database
The use of twinned manager. Files were imported into
holes. Datashed via configured importers
Documentation of and passed through stringent validation.
primary Validation included:
data, data entry * Logging codes checked against approved code lists
procedures,
data verification,
data storage * Interval overlaps and gaps
(physical
and electronic)
protocols. * Records beyond end-of-hole.
Discuss any
adjustment
to assay data. All digital files received were archived
on the workstation hosting the database.
This was located on site with the
database manager. Scheduled daily
backups of the database and file archive
were made to a NAS solution located
at the same site. Nightly scheduled
offsite backups were conducted to
a verified backup service provider.
All offsite backups are encrypted.
Overall, the drilling, logging, sampling,
assaying and QAQC procedures are considered
to be consistent with industry standard
practice.
No adjustments or calibrations were
made to any assay data used in this
estimate.
----------------- --------------------- ----------------------------------------------------------------------------
Location Accuracy and quality Grid System: WGS84 UTM zone 29N (EPSG:
of data of surveys used to 32629)
points locate drillholes All surface survey features were surveyed
(collar with a LEICA GS18-T RTK differential
and downhole global positioning system (GPS) to
surveys), within a proven accuracy of 30 cm;
trenches, mine Cora conducted the differential GPS
workings work.
and other locations A large number of well distributed
used in Mineral ground control points and features
Resource were used for the TERRABOTICS satellite
estimation. survey. All points were set-out or
Specification of the picked-up using CG-LEICA.
grid system used. TERRABOTICS UK produced a site specific
Quality and adequacy 139 km(2) digital terrain model (DTM)
of topographic with 0.3 m RL accuracy using tasked
control. MAXAR orthorectified WV3 imagery flown
in November-December 2020. The DTM
was provided in February 2021 and
utilised throughout the latest drill
program from March to August 2021.
The TERRABOTICS DTM proved accurate
from ongoing survey work to be within
30-50 cm RL. Differential GPS easting
and northing showed better resolution.
The TERRABOTICS DTM is an acceptable
topographic model for Sanankoro which
defines the surface relief and maps
the artisanal pits across the 139
km(2) area of interest accurately.
The WV3 imagery maps the full cadastral
and natural features across the project
area.
The 2022 drilling utilised a WELLFORCE
CHAMP north-seeking gyro throughout
and every drilled RC hole has a detailed
gyro DTH survey file. Historically,
DTH surveys were conducted, used a
REFLEX EZ-TRAC.
----------------- --------------------- ----------------------------------------------------------------------------
Data spacing Data spacing for The nominal drillhole collar spacing
and distribution reporting is 50 m x 25 m and 50 m x 50 m.
of Exploration Due to the orientation of drill traces
Results. on section, data between drillholes
Whether the data can be spaced as close as 10 m in
spacing places.
and distribution is At this stage, no assessment of geological
sufficient to and grade continuity has been conducted.
establish
the degree of
geological
and grade continuity
appropriate for the
Mineral Resource and
Ore Reserve
estimation
procedure(s) and
classifications
applied.
Whether sample
compositing
has been applied.
----------------- --------------------- ----------------------------------------------------------------------------
Orientation Whether the The bulk of the drilling is orientated
of data orientation 090deg or 270deg orthogonal to the
in relation of sampling achieves strike of the mineralised domains.
to geological unbiased sampling of Structural logging based on oriented
structure possible structures core indicates that the main mineralisation
and the extent to controls are +/-20deg from 000 north
which and largely perpendicular to drill
this is known, direction.
considering No orientation-based sampling bias
the deposit type. has been identified in the dataset.
If the relationship
between the drilling
orientation and the
orientation of key
mineralised
structures
is considered to have
introduced a sampling
bias, this should be
assessed and reported
if material.
----------------- --------------------- ----------------------------------------------------------------------------
Sample The measures taken The full chain of custody is managed
security to ensure sample by Cora. Samples collected daily from
security. the rigs and transported to the central
bag farm and sample processing area
next to the main Sanankoro camp where
the bulk samples are logged, split
and prepared for onward transport
to the various labs.
The samples are stored on site and
a truck collects available samples
weekly and transports them to Cora
Gold office in Bamako for registration
and verification prior to onward delivery
to ALS Ouagadougou.
The labs sign sample submissions as
evidence of receipt.
Completed assay files and pdf certificates
were distributed to the approved recipients
by Lab LIMS. Assay files were imported
as received to Datashed and then archived
on the workstation hosting the database.
Database management software used
is DATASHED version 4.6.4.2 with DB
version 4.6.5 with MSSQL Server SQL2017
backend.
----------------- --------------------- ----------------------------------------------------------------------------
Audits The results of any Cora's Head of Exploration at the
or reviews audits or reviews of time visited each of the labs in November
sampling techniques and December 2020 before signing contracts.
and data. No issues were identified during the
visit.
----------------- --------------------- ----------------------------------------------------------------------------
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
Criteria JORC Code explanation Commentary
---------------------------------------------------------- ---------------------------------------
Mineral Type, reference name/number, The Sanankoro Gold Project (area 341.87
tenement location and ownership km(2) ) is located in the Yanfolila
and land including agreements Gold Belt of southern Mali. The
tenure status or material issues Sanankoro
with third parties Gold Project comprises five contiguous
such as joint ventures, gold exploration permits, being Bokoro
partnerships, overriding II (area 63.1 km(2) ; expiry date
royalties, native title 25 August 2023), Bokoro-Est (area
interests, historical 100 km(2) ; expiry date 18 September
sites, wilderness or 2028), Dako II (area 44.66 km(2) ;
national park and environmental expiry date 31 December 2027), Kodiou
settings. (area 50 km(2) ; expiry date 15 May
The security of the 2023), and Sanankoro II (see below).
tenure held at the The Definitive Feasibility Study is
time of reporting along focused on Mineral Resources within
with any known impediments the Sanankoro II gold exploration
to obtaining a license permit.
to operate in the area. In accordance with the 2019 Mining
Code of the Republic of Mali, the
84.11 km(2) Sanankoro II gold
exploration
permit was awarded to Cora Resources
Mali SARL on 2 March 2021
(Arrêté
no. 2021-0590-MMEE/SG). Cora Resources
Mali SARL is registered in the Republic
of Mali. The duration of the permit
is three years, renewable twice at
the holder's request, the duration
of each renewal period is extended
to three years - as such, the full-term
expiry date of the Sanankoro gold
exploration permit is 2 March 2030.
Cora Resources Mali SARL is a wholly
owned subsidiary of Sankarani
Ressources
SARL which in turn is a 95% subsidiary
of Cora Gold Limited. Sankarani
Ressources
SARL is registered in the Republic
of Mali. Cora Gold Limited is
registered
in the British Virgin Islands. The
residual 5% interest in Sankarani
Ressources SARL may be acquired from
a third party for the sum of US$1
million. In addition, the Sanankoro
II permit is subject to a third party
1% net smelter return (NSR) royalty.
All fees due to the government in
respect of the Sanankoro II gold
exploration
permit have been paid and the permit
is in good standing.
A gold exploration permit over the
same area as that covered by the
Sanankoro
II gold exploration permit was
previously
held by Sankarani Ressources SARL.
This permit expired on 1 February
2020, having been initially awarded
on 1 February 2013.
----------------- ---------------------------------------------------------- ---------------------------------------
Exploration Acknowledgment and Exploration activities on the original
done by appraisal of exploration Sanankoro permit by previous workers
other parties by other parties. have included geological mapping,
rock chip sampling, termite sampling,
trench sampling geophysical surveys
and surface drilling - auger, RAB,
AC, RC, and DC.
There were two previous companies
who conducted work at Sanankoro, i.e.
Randgold Resources Ltd (Randgold)
between 2004 and 2008 and Gold Fields
between 2008 and 2012.
During 2004 to 2008, Randgold conducted
successive programs of soils and
termites
geochemical sampling on iterative
500 m, 200 m and 100 m grids. Broad
blocks of gradient array induced
polarisation
(IP) were completed to assist drill
targeting on the broad regional-scale
surface anomalies. They drilled broad
spaced 400 m x 100 m auger and RAB
fences in search for bedrock targets.
During 2008 to 2012, Gold Fields
conducted
infill soils and termite sampling
down to 100 m x 25 m resolution. They
conducted large blocks of regional
gradient array IP and three main phases
of drilling ranging from 400 m x 100
m RAB with follow-up AC down to
50 m x 25 m RC and RC with DC tails,
dependent upon results discovered.
Cora acquired the Sanankoro Permit
in April 2017 and started exploration
termite sampling in May 2017. Chris
Barrett SRK UK - Principal Exploration
Geologist visited Sanankoro from 27
to 30 March 2017 to bless the deal.
SRK UK, however, never returned to
site to do any Competent Person due
diligence for the 2019 MRE, due to
security concerns.
----------------- ---------------------------------------------------------- ---------------------------------------
Geology Deposit type, geological Sanankoro is located on the leading
setting, and style western edge of the Yanfolila-Kalana
of mineralisation. Volcanic Belt, which is the
western-most
expression of the cratonic
Baoulé-Mossi
domain, on the major transcrustal
margin with the Siguiri Basin. There
is major deep-seated architecture
across the district which links the
major gold mines at Siguiri, Lero,
Tri-K, Kalana and Yanfolila.
On a project scale, Sanankoro is
characterised
by the 2 km wide Sanankoro Shear Zone,
which can be traced over 30 km from
Kabaya South in the western Yanfolila
Mine to north of the Niger River beyond
Selin and onto Karan. Within the
project
area, each of the prospects are
underpinned
by a strong linear parallel, and where
strong mineralisation is developed,
a pronounced localised
northeast-southwest
focused zone of en-echelon veining
and associated sulphide development.
There are five main areas which
currently
define the Sanankoro Gold project,
which in order of significance are
Selin, Zone A, Zone B, Zone B North,
and Zone C.
Selin is hosted on the eastern margin
of the Sanankoro Shear Zone in the
north-eastern corner of the Sanankoro
permit. The Selin deposit has a typical
interference node control but with
the additional positive impact of
a strong, rheological diorite intrusive
host. The gold geology at Selin is
anchored along this linear, en-echelon
or possibly folded, diorite igneous
intrusive which cores the
volcaniclastic
thrust assemblage and focuses the
gold deposition.
Recent core drilling into Selin has
enlightened the genetic model for
this resource deposit by discovering
four to six multiple early/pre-D3
dykes of diorite intruding the 65-80deg
west dipping axial trace of a western
hangingwall F3 anti-form on this major
reactivated D2 east-verging thrust.
The >100 m wide Selin Shear Zone may
be a regional back-thrust and the
dominant eastern margin of the regional
west-verging Sanankoro Thrust. The
largest diorite unit is demonstrably
discordant and sits immediately west
and adjacent to a major early ductile,
10-30 m wide footwall carbonaceous
shear. Progressive deformation has
folded, warped and possibly
cross-faulted
the diorite units prior to gold
deposition.
The early footwall shear fabrics are
overprinted by later semi-brittle
to brittle graphitic faults which
locally convert all protolith to
graphitic
schist on sub-metre scale. The diorite
units exhibit multi-phase veining
interference and sulphide development.
The dominant sulphide is pyrite with
occasional arsenopyrite and a
scattering
of chalcopyrite. Alteration minerals
are predominantly sericite, silica,
fuchsite, ankerite, graphite and
calcite.
Zone A shores up the southern limit
of the 11.5 km mineralised corridor,
which forms the backbone to the
Sanankoro
Project. Zone A is the southern-most
expression of the 010deg trending
central axis of the Sanankoro Shear
Zone, which sits 900 m west of the
Selin Boundary Shear and hosts the
5.8 km chain of open pit resources
from Zone A through Zone B1, B2, B3
to Target 3. The deposits of this
central trend verge westward mimicking
the regional sense of thrusting.
Zone B is the strike extension of
Zone A, located 800 m to the north.
The Sanankoro Main Trend runs for
6 km from south end of Zone A to the
north end of Target 3. Detailed
sectional
drilling is required along the length
of this major generative gold system.
The local structural facing and
stratigraphy
of Zone B is very similar to Zone
A with the western footwall sequences
hosting more crystalline volcanic
tuffaceous units and the eastern,
hangingwall assemblages being more
basinal sediments. Zone B hosts an
impressive scale of hydrothermal
activity
and the broad horizontal widths of
mineralisation observed in the recent
drilling bodes well for future
discovery
potential along the central and
southern
sections of the Sanankoro Main Shear
Zone.
Zone C is located 650 m southwest
of Zone A on the parallel, >7 km long
Sanankoro West Shear Zone (SWSZ) which
can be traced along a chain of surface
workings to the Excavator Prospect,
1.5 km north-northwest of Target 3.
The SWSZ is high in the priority list
for drilling in the 2022 program and
a number of SWSZ targets, beyond Zone
C, will be tested for surface
potential.
Zones A, B and C deposits are identical
in style and typical of Siguiri Basin
deposits, fold-thrust controlled within
pelitic and psammitic sediments and
very deeply weathered (>120 m from
surface). There is a highly evolved
weathering profile with a pronounced
8-10 m thick duricrust-laterite
ferro-cap,
grading downward into a well-developed
mottled zone to 20-25 m depth and
remains highly weathered until beyond
140 m vertically within the central
mineralised fault zone. Zone B1 has
extremely deep weathering with shallow
oxide densities measured to depths
of 190 m down-dip within the ore zone
trough.
All the host oxide lithologies are
weathered to kaolin with only highly
corroded quartz vein material remaining
in-situ to mark the main gold faults.
Diamond core shows the host lithologies
to be predominantly variably grained
basinal pelites and sandstones with
minor horizons of small quartz clast,
matrix-supported greywacke inter-bedded
within the sequence. A minor intercept
of diorite has been identified but
does not form an important control
to the mineralisation currently drill
tested at Zone A or C. The primary
sulphide is pyrite disseminated around
central vein networks and enveloped
by a broader hydrothermal halo of
silica flooding, sericite and ankerite.
----------------- ---------------------------------------------------------- ---------------------------------------
Drillhole A summary of all information Significant intercepts that form the
information material to the understanding basis of the MRE have been released
of the exploration to the AIM in previous announcements
results including a (available on the Cora website) with
tabulation of the following appropriate tables incorporating Hole,
information for all Easting, Northing, From, Depth and
Material drillholes: Intercept Assay Data.
* easting and northing of the drillhole collar Appropriate maps and plans accompany
these Exploration Results.
Previous drilling completed by Cora,
* elevation or RL (Reduced Level - elevation above sea Gold Fields and Randgold is documented
level in metres) of the drillhole collar herein and in the publicly available
report "Sanankoro Gold Project, Mineral
Resource Estimate" prepared by CSA
* dip and azimuth of the hole Global UK and dated January 2022.
A complete listing of all drillhole
details is not necessary for this
* downhole length and interception depth release which describes the
intersections
of the latest drill programme. In
* hole length. the Competent Person's opinion the
exclusion of this data does not detract
from the understanding of the
If the exclusion of Exploration
this information is results contained herein.
justified on the basis The 2021 programme twinned important
that the information historical Goldfields and early Cora
is not Material and Gold, smaller diameter, AC and RC
this exclusion does intercepts. Historical Energold DD
not detract from the NQ core holes exhibited sections of
understanding of the unacceptably poor recoveries,
report, the Competent especially
Person should clearly in the deeply oxidised deposits of
explain why this is Zone A and Zone B1, which were twinned
the case. using the deep RC rig.
----------------- ---------------------------------------------------------- ---------------------------------------
Data aggregation In reporting Exploration All RC intersections are sampled and
methods Results, weighting assayed on 1 m intervals but could
averaging techniques, be composited up to 4 m in areas
maximum and/or minimum interpreted
grade truncations (e.g. to be barren.
cutting of high grades) Significant intercepts have previously
and cut-off grades been reported using a cut-off grade
are usually Material of 0.5 g/t, without top cuts.
and should be stated. Mineralised intervals are reported
Where aggregate intercepts with a maximum of 3 m of consecutive
incorporate short lengths internal dilution of less than 0.5g/t
of high grade results Au. Mineralised intervals are reported
and longer lengths on a length-weighted average basis.
of low grade results, No metal equivalents are reported.
the procedure used
for such aggregation
should be stated and
some typical examples
of such aggregations
should be shown in
detail.
The assumptions used
for any reporting of
metal equivalent values
should be clearly stated.
----------------- ---------------------------------------------------------- ---------------------------------------
Relationship These relationships The orientation of the mineralised
between are particularly important zone has been established and majority
mineralisation in the reporting of of the drilling was planned to
widths and Exploration Results. intersect
intercept If the geometry of the mineralised structures orthogonally
lengths the mineralisation or as close as practicable.
with respect to the Existing artisanal workings, buildings,
drillhole angle is sacred sites and drainage sometimes
known, its nature should created obstacles which prevented
be reported. perfect intersection and some holes
If it is not known were required to be drilled at
and only the downhole less-than-ideal
lengths are reported, orientations.
there should be a clear For the bulk of drillholes, site
statement to this effect preparations
(e.g. 'downhole length, were carried out and
true width not known'). 35 m x 25 m drill spacing applied
and acceptable intersection
orientations
were achieved.
----------------- ---------------------------------------------------------- ---------------------------------------
Diagrams Appropriate maps and The appropriate plans and sections
sections (with scales) are included in this document.
and tabulations of
intercepts should be
included for any significant
discovery being reported
These should include,
but not be limited
to a plan view of drill
hole collar locations
and appropriate sectional
views.
----------------- ---------------------------------------------------------- ---------------------------------------
Balanced Where comprehensive All grades, high and low, are reported
reporting reporting of all Exploration accurately with "from" and "to" depths
Results is not practicable, and "hole identification" shown.
representative reporting
of both low and high
grades and/or widths
should be practiced
to avoid misleading
reporting of Exploration
Results.
----------------- ---------------------------------------------------------- ---------------------------------------
Other substantive Other exploration Detailed metallurgical test work has
exploration data, if meaningful been carried out as part of a previous
data and material, should scoping study. Testwork shows that
be reported including the material is amenable to
(but not limited to): conventional
geological observations; crushing, grinding, gravity and
geophysical survey carbon-in-leach
results; geochemical processing. Oxide recoveries have
survey results; bulk been determined to be >95%. An updated
samples - size and metallurgical variability testwork
method of treatment; program is ongoing at ALS Perth.
metallurgical test 1.068 detailed dry bulk density
results; bulk density, determinations
groundwater, geotechnical were conducted on all 2021 drilled
and rock characteristics; core. 589 detailed UCS point load
potential deleterious determinations were conducted on all
or contaminating substances. drilled fresh core. Detailed
geotechnical
logging and analysis was conducted
on all drill core.
Detailed regional exploration programs
continue to generate new drill targets
which will feed into potential Mineral
Resource growth.
----------------- ---------------------------------------------------------- ---------------------------------------
Further The nature and scale Detailed ESIA studies commenced in
work of planned further Q2 2020 and stakeholder engagement
work (e.g. tests for meetings conducted throughout the
lateral extensions period to date.
or depth extensions A program of detailed hydrology and
or large-scale step-out civils geotechnical drilling is planned
drilling). for water management, tailings storage
Diagrams clearly highlighting facility and plant sites.
the areas of possible Detailed variability metallurgical
extensions, including testwork is planned at ALS Perth to
the main geological support further studies.
interpretations and Detailed open pit and civils
future drilling areas, geotechnical
provided this information studies are planned to support further
is not commercially studies.
sensitive. Detailed hydrology studies are planned.
Additional Mineral Resource, Ore
Reserve
and grade control pattern drilling
is planned to update designs prior
to commencement of mining.
----------------- ---------------------------------------------------------- ---------------------------------------
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