Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, 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 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 completed and formally submitted its environmental- and social-impact assessment (ESIA) for the Sanankoro project to the authorities for approval.

The ESIA was completed by environmental consultants Digby Wells Environmental in alignment with the International Finance Corporation Performance Standards.

Formal submission of the ESIA was made to the Direction Nationale de l'Assainissement et du Contrôle des Pollutions et des Nuisances – the governing administration for environmental matters in Mali.

The ESIA is a crucial component of the definitive feasibility study (DFS), which is expected to be completed in the third quarter.

“This, together with the recent completion of our 2022 drill programme that will be used to inform an updated mineral resource estimate, mark the next key objectives towards delivering our DFS,” CEO Bert Monro has said.

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study); Digby Wells Environmental (economic- and social-impact assessment); DRA Global (independent project manager); 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.