Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, Mali.

Project Owner/s
West Africa-focused gold miner Cora Gold.

Project Description
An updated definitive feasibility study (DFS), released in September 2025, has determined that Sanankoro is an exceptional project and well positioned to become a significant new high-margin openpit oxide gold mine.

The updated DFS reports – based on the Selin, Zone A and Zone B deposits – a probable reserve of 14.6-million tonnes for 531 000 oz at 1.13 g/t gold using a gold price of $2 200/oz.

The mining of Selin, Zone A and Zone B is well suited to typical openpit methods using a backhoe configured excavator and truck fleet, which will be operated by a mining contractor.

Average production over the project’s 10.2-year mine life is estimated at 482 000 oz, with average gold production a year estimated at 47 000 oz.

Metallurgical test work has confirmed an average LoM gold recovery of 90.7% through a conventional 1.5-million-tonne-a-year carbon-in-leach processing plant.

The management plan shows the potential for an additional 173 000 oz of gold to be mined from current inferred resources. Cora Gold will target these ounces using more drilling to convert to reserves. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The updated DFS estimates a pretax net present value of $302.1-million, at an 8% discount rate, and an internal rate of return of 74.5%, with a payback of 1.1 years from the start of operations.

Capital Expenditure
Preproduction capital costs are estimated $124-million.

Planned Start/End Date
The project will take 21 months to completed.

Latest Developments
Cora Gold has signed a binding term sheet for a $120-million gold stream with Eagle Eye Asset Holdings (EEA) to support the development of the project.

Combined with existing equity funding following a recent £15.7-million fundraise, cornerstoned by EEA, the stream fully funds Sanankoro to production, subject to permitting.

Cora retains the right to replace 50% of the stream – $60-million – with traditional senior debt for up to 240 days following approvals, enabling Cora to optimise the financing structure.

Under the terms of the stream arrangement, EEA is entitled to buy 30.44% – or 15.22% if reduced by 50% – of gold produced at Sanankoro at a price equal to 20% of the prevailing spot gold price.

Cora has said the stream funding solution is expected to materially accelerate the construction timeline once permits are secured.

Key Contracts, Suppliers and Consultants
DRA Global group company New Senet (updated feasibility study).

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