Starvest PLC

Update on Investee Company - Cora Gold Limited

RNS Number : 9345T
Starvest PLC
26 March 2019
 

26 March 2019

 

Starvest Plc ("Starvest" or "the Company")

 

 

Update on Investee Company - Cora Gold Limited

 

Starvest PLC (LON:SVE), the London Stock Exchange AIM listed specialist mining and resources investment business, is pleased to announce an update for investee company Cora Gold Ltd (LON:CORA) and its flagship Sanankoro gold project.

 

 

Highlights:

·      Drilling at Cora's Sanankoro project has returned intercepts including 46m at 4.48g/t, 17m at 5.10g/t, 24m at 2.83g/t and 26m at 2.60g/t gold

·      Preliminary metallurgical test work results showed up to 97% gold recovery by standard cyanide leach processes

·      Infill and step out drilling at the most prospective areas will continue through Q2 2019

·      Focus will be on the surface oxide material that is easy to mine and process

·      Cora continues to de-risk the project with a view to establishing a standalone operation

 

The announcement by Cora Gold Ltd ('Cora') can be found at;

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CORA/14011107.html
 

 

 

Callum Baxter, Chairman/CEO of Starvest commented, "Ongoing drilling by Cora continues to deliver robust gold results from its Sanankoro project. The shallow oxide potential is growing and initial metallurgical results are positive. This is a pleasing story and we look forward to following development of the project."

 

Cora Gold Ltd - Overview

Cora Gold is an AIM listed gold exploration company holding early stage exploration licenses in Southern and Western Mali, and Eastern Senegal. Their portfolio covers nearly 1,500km2 of prospective ground across two of the most prolific gold belts in the region, Yanfolila and Kenieba, which account for more than 65moz gold discovered over the last two decades.

Cora Gold has focused initial exploration activities on its flagship Sanankoro project, extending identified zones of gold mineralisation within a 14km long structural corridor yet to be fully tested.

The geological setting and scale of gold anomalies suggest the potential for a reasonable greenfield gold discovery at Sanankoro with the management team aiming for an initial 1moz gold. SRK Consulting have independently calculated an initial JORC compliant exploration target of between 30-50mt of ore at an average grade of 1.0-1.3g/t for 1.0-2.0moz gold.

 

To date mineralisation has been delineated to a depth of 100m, most of which is hosted within weathered material. Weathering (oxidation) depth ranges from around 50m to in excess of 100m across the exploration target area. The relatively soft oxidised rock would potentially allow for low-cost surface mining and milling.

 

Starvest will continue to closely follow the development of Cora Gold and we look forward to further information from Cora's on-going work at Sanankoro.

 

Starvest is a specialist mining and resource investment company and has the industry knowledge and market exposure to select compelling opportunities early in the investment cycle.

 

 

Callum N Baxter

Chairman & Chief Executive

26 March 2019

 

 

Enquiries to:

 

Starvest PLC

Callum Baxter or Gemma Cryan  02077 696 876   [email protected]

 

Grant Thornton UK LLP (Nomad)

Colin Aaronson or Harrison Clarke  02073 835 100

 

SI Capital Ltd (Broker)

Nick Emerson or Alan Gunn 01483 413 500

 

 

 

 


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