Farassaba III Permit Awarded

RNS Number : 4982P

Cora Gold Limited

18 February 2021

 

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

18 February 2021

Cora Gold Limited ('Cora' or 'the Company')

Farassaba III Permit Awarded

Cora Gold Ltd, the West African focused gold company, is pleased to report that the Farassaba III permit has been re-awarded, on the 12 February 2021, for a new nine-year term.  The new permit, which covers the same 93km² area of the expired permit, comprises part of the +300km² group of four permits which are collectively known as Cora's 'Yanfolila Project Area'.  The Yanfolila Project Area is located around the Yanfolila Gold Mine of Hummingbird Resources Plc (AIM:HUM).  The permits range between 8km-30km in distance from the Yanfolila Gold Mine processing plant.

To view the RNS with illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/4982P_1-2021-2-17.pdf

Bert Monro, CEO of Cora Gold, commented, "Farassaba III is one of four Cora permits that surround the operating 2Moz Yanfolila Gold Mine.  The permits range from only 8km from the processing plant up to around 30km away so are within possible trucking distances if economic discoveries are proven on the permits.  Cora has had some exciting drill results across this portfolio of permits and looks forward to completing further exploration on the ground during 2021."

Figure 1: Cora Gold Permit Areas within the Yanfolila Gold Belt

Figure 2: Cora Gold Yanfolila Project Area Permits

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 until the release of this announcement.

**ENDS**

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

Bert Monro / Norm Bailie	Cora Gold Limited	[phone]
Christopher Raggett / Charlie Beeson	finnCap Ltd (Nomad & Joint Broker)	[phone]
Andy Thacker / Zoe Alexander	Turner Pope Investments (Joint Broker)	[phone]
Megan Dennison / Susie Geliher	St Brides Partners (Financial PR)	[phone]

Notes

Cora Gold is a gold 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's primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (Southern Mali), which Cora believes has the potential for a standalone mine development.  Sanankoro has a positive Scoping Study published on it showing an 107% IRR and US$41.5m NPV₈ at a US$1,500 gold price.  Cora's highly experienced management team has a proven track record in making multi-million-ounce gold discoveries, which have been developed into operating mines.

 

END

 

 

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