Cora Gold announces final results

Operational highlights

• Transitioning the flagship Sanankoro Gold Project in south Mali into a producing mine.
• Completed strategic work programmes to maximise the commercial value and life of mine: sampling identified four primary and four secondary gold bearing structures, representing approximately 50 km (cumulative strike length) of highly prospective terrain for exploration targeting, giving good confidence on the ability to extend the resource inventory and life of mine at Sanankoro.
• Delineated a +1 million oz Mineral Resource Estimate (the 2024 MRE), marking a 26% increase in tonnage and a 13% increase in contained metal compared to the 2022 MRE.
• The 2024 MRE delineated a total of 31.4 Mt at 1.04 g/t gold (Au) for 1044 koz, comprising Indicated 19.0 Mt at 1.13 g/t Au for 689 koz, plus Inferred 12.4 Mt at 0.89 g/t Au for 354 koz.
• An updated Definitive Feasibility Study (DFS) is scheduled for completion later in 2025.
• The 2024 MRE and ongoing optimisation work is being used to update the 2022 DFS. With the gold price recently trading at new record highs, and the 2022 DFS based on a US$1750 /oz gold price, significant improvements in the project's economics are anticipated.
• Ongoing active engagement with the mining administration in Mali with a view to being issued a mining permit for Sanankoro.
• Post year end on 15 March 2025, the moratorium on issuing permits in the mining sector was partially lifted by the Mali government.
• Additional upside available from wider development portfolio. During 1H24, Cora completed a 2018 m reconnaissance drill programme over the Tambor gold prospect at Madina Foulbé in the Kenieba Window, east Senegal, which confirmed large scale gold mineralisation potential.

Bert Monro, Chief Executive Officer of Cora, commented:

“Our focus at Sanankoro is on its transition into a producing mine. With the gold price recently trading at new record highs this is an opportune time to be developing the Sanankoro Gold Project.

“We have worked hard this past year to build the resource and, in turn, the life of mine potential at Sanankoro, which will feed into an updated DFS due later this year. This is expected to confirm significant improvements in the project's already robust economics. Our key objectives now are to complete the updated DFS and concurrently complete the mine permitting process, so that mine finance can be concluded and construction can commence. We are delighted with the strong support we have already received in support of this and we are confident that the year ahead will be a significant one for Cora.

“We look forward to providing further updates on progress at Sanankoro, as well as updates on wider exploration activities across our permits as we continue to maximise the inherent value of our portfolio. Finally, I’d like to thank both Cora’s shareholders and stakeholders for their continued strong support and patience throughout 2024. We look forward to the year ahead with much optimism."

Read the article online at: https://www.globalminingreview.com/mining/19052025/cora-gold-announces-final-results/