|Sanankoro Gold Project|
|Location||Yanfolila Gold Belt, south Mali|
|Project Area||Five contiguous permits (Bokoro II, Bokoro Est, Dako II, Kodiou & Sanankoro II) encompassing approximately 342 sq km|
|Gold Mineralisation||Oxides up to 207m depth and high-grade sulphides identified at depth|
Optimised Project Economics
(based on a gold price of US$1,750/oz; announcement 21 November 2022)
|Maiden Probable Reserve||10.1 Mt at 1.30 g/t Au for 422 koz
(based on a gold price of US$1,650/oz; announcement 21 November 2022)
|Mineral Resource Estimate||24.9 Mt at 1.15 g/t Au for 920 koz, comprising:
(cut-off grade 0.4 g/t Au; announcement 19 July 2022)
|Additional Exploration Target||26.0-35.2 Mt at 0.58-1.21 g/t Au for 490-1,370 koz
(announcement 07 November 2022)
Click here for an overview of the Sanankoro Project Area / Sanankoro Gold Project as at May 2023.
On 13 March 2023, as part of a project financing arrangement with Lionhead Capital Advisors Proprietary Limited ('Lionhead'), Cora closed a subscription for aggregate investments of US$19.803m, comprising US$3.928m equity and US$15.875m convertible loan notes, to primarily fund the development of the Sanankoro Gold Project.
In Q2 2023, Cora appointed Atlantique Finance as its sole adviser in the structuring & mobilisation of a medium-term US$70m loan, which will be used to support all aspects of the development & construction of the Sanankoro Gold Mine.
|The consortium of investors represented by Lionhead comprises highly experienced and successful natural resources investors, including:|