Gold Discovery: Portfolio

Cora is a gold company focused on two world class gold regions in Mali and Senegal in West Africa, being the Yanfolila Gold Belt (south Mali) and the Kedougou-Kenieba Inlier gold belt (also known as the ‘Kenieba Window’) (west Mali / east Senegal).

Cora’s primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (southern Mali), which Cora believes has the potential for a standalone mine development. In January 2020 Cora published its initial Scoping Study on the Sanankoro Gold Discovery showing 107% IRR and US$41.5m NPV (8% discount rate) at a gold price of US$1,500 / oz.

The strategy of the Company is to: conduct exploration on its portfolio of mineral properties; prove a resource compliant with an internationally recognised standard accepted in the AIM Rules for Companies; and establish preliminary economics on such resource for future development and eventual mining. 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’s highly experienced and successful management team has a proven track record in making multi-million ounce gold discoveries across Africa which have been developed into operating mines.

The Group operates on a number of gold permits with a total area in excess of 1,100 sq km. These permits can be grouped into three distinct project areas:

Sanankoro Project Area (southern Mali; within the Yanfolila Gold Belt);

Yanfolila Project Area (southern Mali; within the Yanfolila Gold Belt); and

Diangounte Project Area (western Mali / eastern Senegal; within the Kedougou-Kenieba Inlier (also known as the ‘Kenieba Window’)).

The Strategic Report section of Cora’s Annual Report 2019 (dated 15 May 2020) provides an overview of the Group’s projects and permits (click here).

For more details on the three project areas including work undertaken by Cora (up to 31 August 2019) please click on the links below:

Sanankoro Project Area (southern Mali; within the Yanfolila Gold Belt)

Yanfolila Project Area (southern Mali; within the Yanfolila Gold Belt)

Diangounte Project Area (western Mali / eastern Senegal; within the Kenieba Window)

As at January 2020 Cora had commissioned three significant independent reports in respect of the Sanankoro Gold Discovery in the Sanankoro Project Area (southern Mali; within the Yanfolila Gold Belt). To access each of these reports please click on the links below:

Scoping Study overseen by Wardell Armstrong International Ltd – January 2020

Mineral Resource Estimate by SRK Consulting (UK) Limited – December 2019

Exploration Target Report by SRK Consulting (UK) Limited – October 2018

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