Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, in Mali.

Project Owner/s
Cora Gold.

Project Description
A preliminary oxide scoping study has shown that Sanankoro has the potential to be a highly profitable standalone oxide mine. The project has combined oxide and sulphide measured, indicated and inferred resources of five-million tonnes grading 1.6 g/t gold.

The scoping study has focused on a 1.5-million-tonne-a-year plant, delivering average production of about 45 632 oz/y over a three-year mine life.

Based on current Joint Ore Reserves Committee-compliant resources, the study has determined that a heap-leach processing methodology is preferable to a carbon-in-leach methodology.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The pretax net present value, at an 8% discount rate, is $30.9-million and the internal rate of return is 84%, with a payback of less than 18 months.

Capital Expenditure
Preproduction capital expenditure is estimated at $20.6-million.

Planned Start/End Date
Not stated.

Latest Developments
Cora Gold has appointed international environmental consultants Digby Wells Environmental to undertake the environmental- and social-impact assessment (Esia) for its Sanankoro project.

The collection of baseline data for the Esia has started to ascertain specialist studies, ranging from ecological, water and social studies, a conceptual closure and rehabilitation plan, a stakeholder engagement process and resettlement policy framework to a community development plan.

Cora continues to advance Sanankoro. The company is initially focused on resource growth and then, if successful, the delivery of a definitive feasibility study (DFS) before the end of 2021.

In terms of permitting, Cora has noted that although the Sanankoro exploration permit expired on February 1, in accordance with the Mali Mining Code, the company had submitted an application prior to this date for the award of a new permit over the area covered by the Sanankoro permit.

Cora says the new permit will be announced in due course, once the necessary process set out in the mining code has occurred.

Key Contracts and Suppliers
Wardell Armstrong International (scoping study) and Digby Wells Environmental (Esia).

Contact Details for Project Information
Cora Gold, email info@coragold.com.