The Madina Foulbé Project Area is located within the Mako Gold Belt in eastern Senegal, a highly prospective geological corridor that hosts several significant gold discoveries and mining operations. Madina Foulbé represents Cora Gold’s principal exploration asset outside Mali and provides the Company with exposure to additional discovery opportunities in a proven gold district. On 12 November 2026 Cora Gold announced that it has entered into conditional agreements regarding the demerger of its assets in Senegal into a new private entity to be owned by the Company’s shareholders. The demerged assets principally comprise Cora Gold’s 100% interest (pre-dilution by the State) in the Madina Foulbé exploration permit. The holding company for the demerged group will be Madina Minerals Limited (registered in the British Virgin Islands). Cora Gold will make a further announcement regarding the demerger as it progresses, this will include details of the timetable for the demerger. Once the demerger is completed Madina Minerals Limited will provide an update to its shareholders on its work programmes and strategy.
- Four Large gold-in-soil anomalies
- Two Regional north–south shear zones
- Three Anomalies yet to be RC-drill tested
Project area
- Location
- Mako Gold Belt, eastern Senegal
- Geological setting
- Kédougou-Kéniéba Inlier, near several Tier 1 gold deposits
- Key structures
- Two regional north–south shear zones cross the permit
- Exploration stage
- Early-stage exploration; RC drilling completed at Tambor only
Highly prospective location
The project benefits from its position within a region known for significant gold endowment and favourable geological structures associated with gold mineralisation throughout West Africa.
Exploration success
Recent exploration programmes have identified four strong gold anomalies across the permit area. Early-stage exploration results from each anomaly have returned encouraging indications of underlying mineralised systems, supporting the project’s exploration potential.
Future discovery potential
Madina Foulbé remains at an early stage of exploration, providing considerable opportunity for resource discovery and growth. Ongoing geological interpretation, geochemical sampling and follow-up drilling programmes will continue to evaluate priority targets across the project area.