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 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 started a 7 500 m drilling programme at the Sanankoro gold project.

The programme is aimed at enhancing the current mineral resource estimate of 809 300 oz and will also inform a definitive feasibility study.

Cora has said that all deposits at the project remain open at depth and along strike, proving strong expansion potential.

Drilling is due to be completed in the second quarter.

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); Epoch Resources (appointed to oversee the tailings storage facility elements of the DFS); and Capital (reverse circulation drilling).

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