|Sanankoro Gold Project|
|Location||Yanfolila Gold Belt, Southern Mali|
|Project Area||Five contiguous permits encompassing c.342 sq km|
|Gold Mineralisation||Oxides up to 207m depth and high-grade sulphides identified at depth|
|DFS & 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 Targets||26.0-35.2 Mt at 0.58-1.21 g/t Au for 490-1,370 koz
(announcement 07 November 2022)
In February 2023 Cora entered into an up to US$30m mandate and term sheet (the 'Term Sheet') with Lionhead Capital Advisors Proprietary Limited ('Lionhead') to fund the development of the Company's Sanankoro Gold Project in southern Mali (the 'Project Financing').
On 13 March 2023, as part of the Project Financing arrangement with Lionhead, Cora closed a subscription for aggregate investments of US$19.803m, comprising US$3.928m equity and US$15.875m convertible loan notes.
|More about the consortium|
|The consortium of investors represented by Lionhead comprises highly experienced and successful natural resources investors, including:|