Update on the DFS for the Sanankoro Gold Project

RNS Number : 6885A

Cora Gold Limited

27 September 2022

 

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

27 September 2022

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

Update on the Definitive Feasibility Study for the Sanankoro Gold Project

Cora Gold Limited, the West African focused gold company, provides an update on the Definitive Feasibility Study ('DFS') for the Sanankoro Gold Project ('Sanankoro' or the 'Project') in southern Mali.

The Company has previously stated the DFS for Sanankoro is expected to be completed in the third quarter of 2022. Whilst a number of the DFS work streams are substantially completed, the Company is continuing to optimise various aspects of the study. As such the Company will provide an update to the market on the DFS during the fourth quarter of 2022.

Bert Monro, Chief Executive Officer of Cora, commented, "Work is continuing at pace on the DFS for Sanankoro. To date the optimisation exercise has been successful and our work over the past few weeks has indicated that further adjustments can be made to further enhance the Project's economics, and we are keen to ensure that the optimal route to production is delivered to the market. We look forward to providing further updates on the DFS during Q4 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 the Market Abuse Regulation (EU) No 596/2014 ('MAR'), which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.

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

Bert Monro Craig Banfield	Cora Gold Limited	[e-mail]
Christopher Raggett Charlie Beeson	finnCap Ltd (Nomad & Joint Broker)	[phone]
Andy Thacker James Pope	Turner Pope Investments (Joint Broker)	[phone]
Susie Geliher Charlotte Page	St Brides Partners (Financial PR)	[e-mail]

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 aims to commence construction of an open pit oxide focused gold mine. An updated mineral resource estimate on the Sanankoro Gold Project was published in July 2022 which increased the Resources to 920,000 oz Au. Further updates regarding the ongoing Definitive Feasibility Study for the Sanankoro Gold Project will be provided during Q4 2022.

 

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