Sanankoro 2026 MRE Update Drilling: Selin Results
Summary by AI BETAClose X
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
19 October 2026
Cora Gold Limited ('Cora' or 'the Company')
Sanankoro 2026 MRE Update Drilling:
Drill Results Confirm Mineralisation Outside of MRE at Selin
Cora Gold Limited, the West African focused gold company, is pleased to provide further drill results from the ongoing 2026 mineral resource estimate ('MRE') growth drilling programme being conducted at the Company’s Sanankoro Gold Project ('Sanankoro' or the 'Project') in southern Mali. The drill programme aims to unlock the broader long-term potential of the Project through an extensive resource growth and exploration programme, targeting both extensions to existing deposits and a number of highly prospective near-mine greenfield targets.
The latest assay results have been received from drilling at the Selin deposit, the largest and most continuous of the MRE deposits at Sanankoro, with a continuous strike extent of >2.75km. Due to its size and the current depth of drilling, selected locations of the deposit were targeted by this 2026 MRE drill programme, with 21 reverse circulation (‘RC’) holes drilled for 3,748m. All holes were designed to test for extensions to mineralisation outside of the MRE, mainly targeting new Inferred mineralisation under the main zone and along strike continuity of the ‘blind’ western zone, which is relatively untested. The targeted drill programme at Selin completed its objective, defining new extensions to the mineralisation outside of the MRE and demonstrating grade continuity. Further drilling is required in the future as mineralisation remains open at depth beyond the current limits of the MRE model.
Selin Drilling Highlights
● Best intercepts from Selin include:
o 17m @ 1.65 g/t gold (‘Au’) from 113m in hole SC0725 “western zone”
o 23m @ 1.34 g/t Au from 38m in hole SC0726 “main zone”
o 18m @ 1.03 g/t Au from 111m in hole SC0728 “western zone”
o 14m @ 1.33 g/t Au from 146m in hole SC0729 “main zone”
o 12m @ 1.34 g/t Au from 185m in hole SC0729 “main zone”
o 16m @ 1.32 g/t Au from 177m in hole SC0730 “main zone”
o 13m @ 1.25 g/t Au from 169m in hole SC0743 “main zone”
o 15m @ 1.76 g/t Au from 143m in hole SC0744 “main zone”
o 22m @ 1.28 g/t Au from 135m in hole SC0745 “main zone”
● The assay results continue to show the continuous nature of mineralisation and gold grade.
● New intervals of mineralisation were intersected along the interpreted extensions of the ‘blind’ western zone, providing a key resource growth target in the future.
● Results build on the recent high-grade gold intercepts from Zone B (see announcement dated 7 September 2026), giving further confidence in the potential to materially expand the Project's current MRE inventory of 1.044 Moz and life of mine of 10.2 years.
● The drill programme was 89% complete at the end of September and remains ongoing, with the diamond drill rig now onsite to complete deeper holes at Zone B.
● Assays remain pending from Zone A, Zone C, Dakounkoura (‘Dako’), TRA07, Kary (Zone B south/west) and the remaining drill holes at Zone B.
Bert Monro, Chief Executive Officer of Cora, commented,
“Good mining operations are built around grade consistency and Selin continues to deliver as a robust gold deposit that will underpin the early years of our mine plan.
“It’s exciting to see the targeted drill programme intersect extensions to the relatively untested western zone. This is significant because any new resources defined at this zone will also help deepen the resources in the main zone by decreasing the strip ratio.
“These results build on the encouraging initial assays from Zone B. With assays pending from six drill areas and diamond drilling just starting, we believe that we are only just beginning to tap into the immense exploration potential at Sanankoro.”
Sanankoro Gold Project Map
Figure 1: Map showing the locations of the deposits, and future mineral resource growth zones at the Sanankoro Gold Project
Selin Drill Programme Overview
The 2026 MRE growth drill programme at Selin comprised of 21 RC holes (3,748m) and was primarily located around the central and southern areas of the deposit, near where the north and south reserve pits join and where there is a flex in the structural trend controlling the mineralisation as shown on the map below (Figure 2). The drilling also targeted what is referred to as the ‘blind’ western zone, which is weakly mineralised near surface and stronger at depth. Mineralisation from this zone that has been defined and modelled previously is contained within the 2025 MRE Reasonable Prospects for Eventual Economic Extraction (‘RPEEE’) pit shell based on a gold price of US$2,400/oz.
Figure 2. Selin central area showing the completed 2026 MRE drill holes, MRE model (coloured by gold grades (g/t)) and the location of the ‘blind’ western zone
Selin Drilling Results Summary
Below, in Table 1, is the full summary of the drill intervals for Selin, where the reporting criteria cut-off is Au≥0.1 g/t Au, minimum 3m interval and ≥6m waste included (where all drill holes dip is -60 degrees and drill hole azimuth 270 degrees).
|
Hole_ID |
From |
Intercept |
Gramme X Metre |
Zone |
|
SC0719 |
142 |
10.00m @ 0.56 g/t Au |
5.6 |
main |
|
SC0720 |
96 |
3.00m @ 0.70 g/t Au |
2.1 |
main |
|
SC0721 |
24 |
17.00m @ 0.13 g/t Au |
2.2 |
main |
|
SC0721 |
185 |
3.00m @ 0.75 g/t Au |
2.3 |
main |
|
SC0723 |
18 |
13.00m @ 0.12 g/t Au |
1.6 |
main |
|
SC0724 |
76 |
12.00m @ 0.20 g/t Au |
2.4 |
main |
|
SC0725 |
113 |
17.00m @ 1.65 g/t Au |
28 |
western |
|
SC0725 |
144 |
9.00m @ 0.93 g/t Au |
8.4 |
western |
|
SC0726 |
6 |
6.00m @ 0.31 g/t Au |
1.9 |
main |
|
SC0726 |
38 |
23.00m @ 1.34 g/t Au |
30.8 |
main |
|
SC0726 |
135 |
14.00m @ 0.97 g/t Au |
13.6 |
main |
|
SC0727 |
39 |
7.00m @ 0.33 g/t Au |
2.3 |
main |
|
SC0727 |
96 |
12.00m @ 0.29 g/t Au |
3.5 |
western |
|
SC0727 |
129 |
13.00m @ 0.40 g/t Au |
5.2 |
western |
|
SC0728 |
48 |
3.00m @ 4.98 g/t Au |
14.9 |
main |
|
SC0728 |
63 |
4.00m @ 0.80 g/t Au |
3.2 |
main |
|
SC0728 |
111 |
18.00m @ 1.03 g/t Au |
18.5 |
western |
|
SC0729 |
146 |
14.00m @ 1.33 g/t Au |
18.6 |
main |
|
SC0729 |
185 |
12.00m @ 1.34 g/t Au |
16.1 |
main |
|
SC0730 |
177 |
16.00m @ 1.32 g/t Au |
21.1 |
main |
|
SC0741 |
15 |
5.00m @ 0.52 g/t Au |
2.6 |
main |
|
SC0742 |
153 |
30.00m @ 0.49 g/t Au |
14.7 |
main |
|
SC0743 |
24 |
4.00m @ 0.81 g/t Au |
3.2 |
main |
|
SC0743 |
169 |
13.00m @ 1.25 g/t Au |
16.3 |
main |
|
SC0744 |
143 |
15.00m @ 1.76 g/t Au |
26.4 |
main |
|
SC0745 |
135 |
22.00m @ 1.28 g/t Au |
28.2 |
main |
|
SC0747 |
109 |
23.00m @ 0.85 g/t Au |
19.6 |
main |
|
SC0748 |
6 |
3.00m @ 0.51 g/t Au |
1.5 |
main |
|
SC0748 |
61 |
5.00m @ 0.29 g/t Au |
1.4 |
main |
Table 1. Summary of the drill intervals from Selin
Three holes (SC0722, SC0746 and SC0749) did not intersect mineralisation.
Selected drill sections from the drill programme
In Figure 3 below, drill hole SC0725, targeting the ‘blind’ western zone, intersected 17m @ 1.65 g/t Au, from 144m, and also intersected a second deeper zone, 9m @ 0.93 g/t Au from 144m. Both intervals are within the previous 2025 MRE RPEEE pit shell, but importantly outside of the MRE mineralised grade shell. New mineralisation intersected within the previous RPEEE pit shell is free carry and once re-modelled, is expected to add new resources to the next MRE update.
Figure 3: Selin ‘blind’ western zone drilling (SC0725), showing MRE model (coloured by gold grades (g/t)), 2025 MRE RPEEE pit shell (magenta), and 2025 reserve pit (based on a gold price of US$2,200/oz) (grey line)
Figure 4, below, shows the reported drill intercepts for hole SC0729, which targeted deeper extensions to the main zone mineralisation below and outside the previous 2025 MRE. The section also shows that the reserve pit and MRE RPEEE pit shell ‘bottom out’ at or near the base of the MRE model at a relatively shallow depth of 75m and 100m respectively beneath the surface topography.
Hole SC0729 recorded two intercepts, 14m @ 1.33 g/t Au from 146m, and 12m @ 1.34 g/t Au from 185m, with both mineralisation zones remaining open at depth for future MRE growth.
Figure 4: Selin main zone Inferred extension drilling (hole SC0729), 2025 MRE model (coloured by gold grades (g/t)), 2025 MRE RPEEE pit shell (magenta), 2025 reserve pit (based on a gold price of US$2,200/oz) - grey line
Figure 5, below, shows SC0729 and its surrounding 2026 drill holes, which all intersected mineralisation beneath the base of the 2025 MRE model. Collectively, once re-modelled, this new mineralisation is expected to allow the updated MRE RPEEE pit optimisation to go deeper and add more resources in this central area where both the north and south reserve pits join.
Figure 5: Selin main zone (– central area) 2026 new Inferred extension drilling showing MRE model (coloured by gold grades (g/t)) and 2025 reserve pit designs (based on a gold price of US$2,200/oz) - north and south pits (in grey)
Hole SC0747 in Figure 6 below, targeted shallow extensions to the main zone underneath the shallow reserve pit design and 2025 MRE RPEEE pit shell at the southern end of the Selin deposit. The hole recorded an intercept of 23m @ 0.85 g/t Au from 109m, proving up the continuity of the mineralisation, and is expected to now allow for the MRE to be modelled and extended to the same depth as to the north and south of the hole.
Figure 6: Selin main zone Inferred extension drilling (hole SC0747), showing MRE model (coloured by gold grades (g/t)), 2025 MRE RPEEE pit shell - magenta line and 2025 reserve pit (@$2200/oz) - grey line
Competent Person's statement
The technical information in this release that relates to Exploration Results was reviewed and approved by Mr Murray Paterson, in his capacity as a Competent Person, as required under the AIM Rules for Companies. Murray Paterson is the Head of Geology for the Company and is a member of good standing with the Australasian Institute of Mining and Metallurgy (‘MAusIMM’). Mr Paterson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Paterson consents to the inclusion in this release of the Exploration Results in the form and context in which it appears.
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, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.
**ENDS**
For further information, please visit http://www.coragold.com or contact:
|
Bert Monro |
Cora Gold Limited |
|
|
Derrick Lee |
Cavendish Capital Markets Limited |
+44 (0)20 7220 0500 |
|
Matt Hasson Andrew Chubb |
Hannam & Partners (Broker) |
+44 (0) 20 7907 8500 |
|
Susie Geliher |
St Brides Partners |
Notes
Cora is a West African gold developer with de-risked project areas within two known gold belts in Mali and Senegal. Led by a team with a proven track-record in making multi-million-ounce gold discoveries that have been developed into operating mines, Cora's primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt in south Mali into an open pit oxide mine.
Cora has a Probable Reserve of 531 koz at 1.13 g/t Au (based on a gold price of US$2,200/oz). The 2025 Definitive Feasibility Study showed that the Project has strong economic fundamentals, including 98% IRR post tax, US$365 million NPV8 post tax and all-in sustaining costs of US$1,623/oz based on a gold price of US$3,500/oz.
In April 2026, the Company secured a binding US$120 million gold stream which, together with existing equity, fully funds the development of Sanankoro through to production. The agreement also provides flexibility and was amended in August 2026 to allow up to 50% of the stream to be replaced with traditional senior debt by the later of (i) 30 October 2027; and (ii) 6 months after the date on which the mining rights permit is granted by the government of Mali, enabling optimisation of the financing structure. With funding in place, the Company is advancing the finalisation of the permitting process with the Government of Mali to enable a swift transition into mine construction.
The Company continues to pursue additional value-enhancing opportunities across its broader portfolio, including the identification of large-scale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.
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