Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, Mali.

Project Owner/s
West Africa-focused gold miner Cora Gold.

Project Description
A preliminary oxide scoping study has shown that Sanankoro has the potential to be a highly profitable standalone oxide mine.

The study has focused on a 1.5-million-tonne-a-year plant delivering average production of about 45 632 oz/y over a three-year mine life.

Based on current Joint Ore Reserves Committee-compliant resources, the study has determined that a heap-leach processing methodology is preferable to a carbon-in-leach methodology.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The pretax net present value, at an 8% discount rate, is $30.9-million and the internal rate of return is 84%, with a payback of less than 18 months.

Capital Expenditure
Preproduction capital expenditure is estimated at $20.6-million.

Planned Start/End Date
Not stated.

Latest Developments
Cora Gold, which is undertaking drilling at an exploration target that is part of its Sanankoro gold project, has reported that the target has the potential to contain a gold resource of between 490 000 oz and 1.37-million ounces grading at between 0.58 g/t and 1.21 g/t of gold.

Cora is refining its mineral resource estimate of the target, based on historical drill programmes and other exploration activity.

The target – focused on brownfield areas within 8 km of the existing mineral resource and comprising 12 areas – includes Target 3, 5 and 6, and the Selin-Bokoro West Extension.

The exploration work is intended to be used as part of Cora’s planning of future exploration programmes as the company considers expanding the Sanankoro project.

The total volume of ore in the target exploration area ranges between 26-million and 35.2-million tonnes.

Cora CEO Bert Monro has said the exploration target has demonstrated clear evidence of the company’s opportunity to considerably expand its mineral resource over time.

“The exploration target shows the uplift potential for an additional 1.37-million ounces of gold over and above Cora’s existing 920 000 oz mineral resource at Sanankoro.”

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study); Digby Wells Environmental (economic- and social-impact assessment); DRA Global (independent project manager); New SENET (management of updated mineral resource estimate and the mining study as part of the DFS); CSA Global (geological and mining consultant to manage the updated mineral resource estimate and the mining study as part of the DFS); Epoch Resources (appointed to oversee the tailings storage facility elements of the DFS); and Capital (reverse circulation drilling).

Contact Details for Project Information
Cora Gold, email info@coragold.com.