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 made progress with its environmental, social and governance (ESG) activities in Mali, including the appointment of dedicated ESG personnel, as its Sanankoro gold project advances towards the completion of a definitive feasibility study.

Further, Cora has noted that there has been continued positive engagement with local communities as development activities intensify at Sanankoro.

The miner has completed a new water well at the Dako community village garden and provided garden equipment for the Faragouagnia community.

Moreover, a solar kit and battery have been supplied to the Sanankoro village community, while a contribution has been made towards the health centre, the company has highlighted.

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study); Digby Wells Environmental (economic- and social-impact assessment); DRA Global group company, New SENET (management of updated mineral resource estimate and the mining study as part of the DFS); CSA Global (geological and mining consultant to manage the updated mineral resource estimate and the mining study as part of the DFS); and Epoch Resources (appointed to oversee the tailings storage facility elements of the DFS).

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