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 is continuing to advance the definitive feasibility study (DFS) for the Sanankoro project at an encouraging pace and on schedule, CEO Bert Monro has said.

All hydrogeological and geotechnical drilling, associated pump testing and geotechnical test pits have been completed on schedule.

All field-based sampling work is complete and final samples are being dispatched to the relevant laboratories.

Metallurgical testwork is ongoing and all major procurement packages have been sent to suppliers for costing.

The company has also finalised site lay-out, including the locations of the plant, tailings storage facility and camp accommodation.

The environmental- and social-impact assessment (ESIA) remains on target for completion in the first half of the year.

The DFS remains on track to be completed by end of the first half of the year.

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.