Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, in Mali.

Project Owner/s
West Africa-focused gold miner 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 received its ninth set of drill results from its biggest-ever drilling campaign at its Sanankoro gold project.

The miner is focused on targeting resource growth and infill drilling to convert existing inferred resources to indicated.

Cora said on August 3  that the results to date “have been extremely encouraging, with good widths and high-grade results in generally shallow oxide ore”.

These latest results are the first from the Phase 2 programme at Selin targeting drilling below the existing pit shell, which has a 65 m average depth, into the transitional and fresh rock. 

The company has intersected extremely strong mineralisation in both grades and widths below the base of the existing pit shell, which it said was very encouraging for the future development of the Selin deposit.   

Key Contracts, Suppliers and Consultants
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.