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 reported on the progress made by Digby Wells Environmental on the environmental- and social-impact assessment (ESIA) for the Sanankoro gold project.

The start of the ESIA was announced on May 4.

The ESIA continues on time and on budget, with numerous concurrent work streams ongoing.

Terms of reference have been submitted to the regulating authority for environmental permitting to formally start the ESIA process.

Baseline water- and air-quality monitoring programmes have also been established, with several rounds of sampling completed.

Representative ore samples have been shipped to a laboratory in Australia for geochemical characterisation testwork.

Socioeconomic studies are also under way in the local communities and include focus-group meetings and household surveys.

Environmental and social design criteria are also being developed to integrate best practice into engineering and project design.

The ESIA is expected to be completed in mid-2021, aligning it with the company’s plans to progress Sanankoro towards development as quickly as possible. 

Key Contracts and Suppliers
Wardell Armstrong International (scoping study) and Digby Wells Environmental (economic- and social-impact assessment).

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