Cora Gold Limited Drilling Commences at Tekeledougou Project (5719H)
March 14 2018 - 3:00AM
UK Regulatory
TIDMCORA
RNS Number : 5719H
Cora Gold Limited
14 March 2018
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector:
Mining
14 March 2018
Cora Gold Limited ("Cora Gold", "Cora" or "the Company")
Drilling Commences at Tekeledougou Project
Cora Gold, the West African focused gold exploration company, is
pleased to announce the commencement of drilling at the Company's
Tekeledougou project in southern Mali ("Tekeledougou" or "the
Project"). To view the announcement with the illustrative maps and
diagrams, please click on the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5719H_-2018-3-13.pdf
Highlights:
-- Multi-purpose drill rig mobilised and drilling commenced for
a maiden 2,000m drill programme;
-- Located within 8km of Hummingbird Resources plc's
("Hummingbird") operational Yanfolila Gold Mine (Hummingbird is a
33.85% shareholder in Cora) and 60km south of the Company's
flagship Sanankoro Gold Discovery;
-- Two promising targets identified at Tekeledougou which are
now being prioritised for drilling (see announcement dated 11
January 2018);
-- Significant artisanal workings have exposed two extensive intense quartz structures; and
-- Potential to extend footprint to over 1km with exploration work.
Dr Jonathan Forster, CEO of Cora Gold said, "Tekeledougou is an
exciting prospect with two separate structures exposed; one with
over 600m of strike of an intensely veined quartz shear structure
and the other approximately 200m of strike. Based on our findings
so far, these structures may carry significant gold mineralisation.
The initial reconnaissance programme will seek to test and confirm
the mineralisation of the structures and also to extend them along
the strike where possible. Due to the close proximity of these
targets to our 34% shareholder Hummingbird's producing Yanfolila
mine, in the event of a significant discovery there is potential
for early cash-flow by utilising the Yanfolila treatment plant. I
look forward to providing assay results from Tekeledougou as they
become available as we look to unlock the potential of this
exciting project.
"In addition, we look forward to reporting on the remaining
assay results relating to the recently completed drill programme at
our flagship Sanankoro Gold Discovery, which has already yielded
exceptional assays including 17 metres @ 5.43g/t from 67 metres
downhole (including 8 metres @ 11.24g/t). With active work
programmes underway at both Tekeledougou and Sanankoro, we remain
focused on our objective of delivering multiple high value gold
exploration and development assets, laying the foundations for
future potential 1 million-ounce plus deposits."
Tekeledougou
Tekeledougou is located approximately 60km south of Cora's
flagship Sanankoro Gold Discovery ("Sanankoro") and within 8km of
Hummingbird's Yanfolila mine and plant. The Company previously
announced (refer RNS 11 January 2018: Stage 1 Drilling Complete at
Sanankoro Gold Discovery and Exciting New Targets Identified) that
it had identified two new targets at Tekeledougou and intended to
drill them prior to the end of Q1 2018. This will be the first
drill programme ever completed at Tekeledougou.
The first target at Tekeledougou is the site of significant
artisanal workings that have exposed a quartz shear structure
approximately 30m to 40m in width along a strike length of
approximately 600m. The geology comprises well developed, stacked,
sheeted and stock worked, predominantly east-west oriented intense
quartz veining. The Company believes there is strong potential to
extend the footprint to greater than 1km strike length.
The second target was also extensively mined by artisanal miners
with the pit area extending 100m laterally and approximately 200m
in length. Discussions with the local artisanal miners anecdotally
suggest the presence of similar quartz veining to the first target
including some rich gold grades.
** ENDS **
For further information, please visit http://www.coragold.com or
contact:
+44 (0) 20 3239
Jon Forster Cora Gold 0010
John Depasquale/Nick Allenby Capital (Nominated +44 (0) 20 3328
Harriss/ Liz Kirchner Adviser) 5656
Peter Krens/Nick Mirabaud Securities +44 (0) 20 3167
Orgill (Broker) 7150
Lottie Wadham/Susie St Brides Partners +44 (0) 20 7236
Geliher (Financial PR) 1177
Notes to the Editors
Cora Gold is a new gold exploration company focused on two world
class gold regions in Mali and Senegal, West Africa. Historical
exploration has resulted in the highly prospective Sanankoro Gold
Discovery, in addition to multiple, high potential, drill ready
gold targets within its broader portfolio. Cora Gold's primary
focus is on further developing Sanankoro in the Yanfolila Gold Belt
(South Mali), which Cora Gold believes has the potential for a
standalone mine development. Cora Gold's highly experienced and
successful management team has a proven track record in making
multi-million ounce gold discoveries which have been developed into
profitable mines.
The information in this announcement is based on historical
information compiled on behalf of Cora Gold by Dr Jonathan Forster.
Dr Jonathan Forster (PhD, MBA, FIMMM) is Cora Gold's chief
executive officer. Dr Forster has sufficient experience relevant to
the style of mineralisation and type of deposit under
consideration, and to the activity which he is undertaking to
qualify as a Competent Person in accordance with the guidance note
for Mining, Oil & Gas Companies issued by the London Stock
Exchange in respect of AIM Companies, which outlines standards of
disclosure for mineral projects. Dr Forster consents to the
inclusion in this announcement of the matters based on his
information in the form and context in which it appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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