Location: Mali | Resource: Gold
Cora Gold, an exploration company listed on the London alternative investment market (AIM), announced that multipurpose drill rigs have been mobilised at the company’s Tekeledougou project in southern Mali.
Tekeledougou is 8km from Hummingbird’s operational Yanfolila gold mine and 60km from Cora’s flagship Sanankoro gold discovery. London-listed Hummingbird is a 33.85% shareholder in Cora Gold.
According to Dr Jonathan Forster, CEO of Cora Gold, two promising targets have been identified and are now prioritised for drilling. Foster says that significant artisanal workings have exposed two extensive intense quartz structures.
“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,” says Foster.
[CAPTION] Figure 1: Map of Cora Yanfolila gold belt tenements.
[CREDIT] Cora Gold