Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, Mali.

Project Owner/s
West Africa-focused gold miner Cora Gold.

Project Description
An updated definitive feasibility study (DFS), released in September 2025, has determined that Sanankoro is an exceptional project and well positioned to become a significant new high-margin openpit oxide gold mine.

The updated DFS reports – based on the Selin, Zone A and Zone B deposits – a probable reserve of 14.6-million tonnes for 531 000 oz at 1.13 g/t gold using a gold price of $2 200/oz.

The mining of Selin, Zone A and Zone B is well suited to typical openpit methods using a backhoe configured excavator and truck fleet, which will be operated by a mining contractor.

Average production over the project’s 10.2-year mine life is estimated at 482 000 oz, with average gold production a year estimated at 47 000 oz.

Metallurgical test work has confirmed an average LoM gold recovery of 90.7% through a conventional 1.5-million-tonne-a-year carbon-in-leach processing plant.

The management plan shows the potential for an additional 173 000 oz of gold to be mined from current inferred resources. Cora Gold will target these ounces using more drilling to convert to reserves. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The updated DFS estimates a pretax net present value of $302.1-million, at an 8% discount rate, and an internal rate of return of 74.5%, with a payback of 1.1 years from the start of operations.

Capital Expenditure
Preproduction capital costs are estimated $124-million.

Planned Start/End Date
The project will take 21 months to completed.

Latest Developments
The project is progressing towards construction readiness. This includes the start of the front-end engineering design (FEED) process, which is a key element in readying Sanankoro for full construction. It forms part of the capital cost and is an important milestone in the delivery timeline to the first gold pour.

Completing the FEED process will enable the company to decide on long-lead items to potentially compress the project's delivery timeline once in receipt of the mining permit.

Cora has appointed New SENET, a DRA Global group company, to lead the FEED process, owing to its established knowledge of the project.

The FEED process is due to be completed in the second half of 2026. Subject to the finalisation of the relevant permitting, construction will start thereafter. 

Cora continues to progress the permitting process for Sanankoro through ongoing constructive engagement with the government of Mali. As the final key regulatory milestone ahead of construction, permitting represents one of the last stages of derisking the project.

In addition to the FEED and permitting activities, selected complementary workstreams are planned to start in parallel. The Sanankoro exploration camp is undergoing refurbishment as the company prepares to start FEED-focused fieldwork while upgrading accommodation standards in advance of construction of the permanent mine camp during development. 

Targeted land compensation activities have started in priority areas to support ongoing project advancement and construction readiness.

Key Contracts, Suppliers and Consultants
DRA Global group company New Senet (updated feasibility study and FEED).

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