Appointment of Drilling Contractor for Sanankoro

RNS Number : 7482T

Cora Gold Limited

17 October 2017

 

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

17 October 2017

 Cora Gold Limited ("Cora Gold", "Cora" or "the Company")

Accelerated Appointment of Drilling Contractor for Sanankoro Gold Discovery in Mali

Cora Gold Limited, the West African focused gold exploration company, is pleased to announce that its wholly owned subsidiary, Cora Gold Mali SARL, has today entered into a contract with Target Drilling SARL ("Target") to supply aircore ("AC"), reverse circulation ("RC") and diamond core drilling, focusing primarily on its flagship Sanankoro Gold Discovery in South Mali ("Sanankoro" or "the Project").

The drilling programme is expected to commence at the end of November 2017 with a total of 15,000 metres, made up of AC, RC and up to a further 1,000 metres of diamond core. The use of a "multipurpose" drill rig provides flexibility, enabling the geological team to switch from AC and RC, and to diamond core, as and when required.

The programme will have a phased approach, allowing assay results to be received and evaluated, before progressing to the next stage. Drilling is expected to conclude towards the end of Q2 2018.

Target is a Mali based contractor, founded by Australians with a focus on safety and productivity. It has operated drilling campaigns for a number of international companies in Mali, including mid-tier producer Resolute Resources.

Jon Forster, CEO of Cora Gold said, "I am delighted that we have been able to progress the appointment of our drilling contractor ahead of schedule and so rapidly after our Admission to AIM earlier this month.  Target Drilling has a track record of working in partnership with exploration teams and we look forward to a productive relationship.  We are eager to commence exploration at the exciting Sanankoro Gold Discovery as soon as is practical as we believe it has the potential for a standalone mine development."

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For further information, please visit http://www.coragold.com or contact:

Jon Forster	Cora Gold	[phone]
John Depasquale/Nick Harriss/ Liz Kirchner	Allenby Capital (Nominated Adviser)	[phone]
Peter Krens/Nick Orgill	Mirabaud Securities (Joint Broker)	[phone]
Jon Belliss	Beaufort Securities (Joint Broker)	[phone]
Lottie Wadham/Susie Geliher	St Brides Partners (Financial PR)	[phone]

Notes to the Editors

Cora Gold is a new gold exploration company focused on two world class gold regions in Mali and Senegal in West Africa. Historical exploration has resulted in the highly prospective Sanankoro Gold Discovery, in addition to multiple, high potential, drill ready gold targets within its broader portfolio. Cora Gold's primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (South Mali), which Cora Gold believes has the potential for a standalone mine development. Cora Gold's highly experienced and successful management team has a proven track record in making multi-million ounce gold discoveries which have been developed into profitable mines.

 

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