18:00 Mon 04 Dec 2017
Cora Gold Limited - Drilling Commences at Sanankoro Gold Discovery
Drilling Commences at Sanankoro Gold Discovery
http://www.rns-pdf.londonstockexchange.com/rns/1784Y_-2017-12-1.pdf
Highlights
· Multi-purpose drill rig mobilised and drilling commenced for the first phase of a 15,000m drill programme
· Targeting 3,000m of mixed aircore ("AC") and reverse circulation ("RC") drilling prior to year end
· Priority targets identified:
o Drilling will first target the 1.5km long "Target 1" (see Figure 2), located towards the north of Sanankoro and identified in part by shallow historical drilling which returned values including 6m at 2.7g/t Au, 3m at 5.9 g/t Au and 15m at 1.0 g/t Au
o Infill and confirmatory drill holes at Zones A and B, where the drill azimuth will be changed to the NW (rather than the historical E-W), to better test all quartz veins
· Testing Zones A and B for extensions along strike
· Entire drill programme to be completed during Q2 2018
Dr
Further Information
The initial 3,000m combined AC and RC programme is planned for completion before the end of
Figure 1: Sanankoro Project Location, Yanfolila Belt,
Phase one has three primary objectives:
i) Undertake systematic exploration drilling at Target 1 to depths of about 100m to identify the potential for the zone to host continuous gold mineralisation with economic widths and grades;
ii) Identify the influence of E-W veins, and confirm selected previous historical drill results within both Zones A and B; and
iii) Commence testing for possible extensions along strike to the north and south of, and in between, Zones A and B.
Drill samples will be analysed for gold at the independent SGS laboratory in
Target 1
Target 1 is located about 5km to the NNE of Zone B, and was historically tested by four fences of shallow, angled, reconnaissance RAB drill holes on widely spaced drill fences between 400m and 800m apart. Target 1 forms part of a much larger zone (>4km in length) in the northern extent of the identified strike of Sanankoro. Much of Target 1 lies along a ferricrete plateau, within a +50 ppb Au gold in soil anomaly. Each drill fence returned significant indications of primary gold mineralisation (refer Appendix 1).
Locally, small areas of disused surface artisanal workings were identified through detailed mapping of the target. The planned drill programme of approximately 1,500m will initially focus on testing for the presence of a continuous mineralised structure of economic grades and widths to depths of about 100m below surface. Drilling will commence on fences 320m apart.
Figure 2: Surface structures under permit zones (please view PDF)
Zone A and Zone B
Recent detailed mapping and investigation of artisanal mining, in conjunction with review of historical drill core, indicates the presence of a well-developed set of east-west trending, sub vertical, quartz veins that are believed to carry gold mineralisation. This complements the previously identified sub vertical and low angle set of quartz veins that trend on an azimuth of around 015o.
Historical drilling was aligned on an E-W axis to test only the 015o trending zones and, has failed to systematically test, gold mineralisation potential from the E-W trending vein set. Anecdotal evidence, as well as artisanal workings, suggest the E-W trending veins carry gold.
The programme of combined AC and RC drilling will test the significance of the E-W veins and provide some infill and confirmatory drilling of the historical drill results. This will be accomplished by drilling on a NW azimuth with the objective of intersecting all three quartz vein sets on a systematic basis.
Finally, the Company will complete a number of drill fences which will test for extensions along strike to both Zones A and B, as well as the section between the two zones.
A successful programme to the end of 2017 will provide further encouragement to Cora Gold on the potential scale of the Sanankoro Gold Discovery.
** ENDS **
For further information, please visit http://www.coragold.com or contact:
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+44 (0) 20 3239 0010 |
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+44 (0) 20 3328 5656 |
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+44 (0) 20 3167 7150 |
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+44 (0) 20 7382 8300 |
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+44 (0) 20 7236 1177 |
Notes to the Editors
The information in this announcement is based on historical information provided by Gold Fields Limited and compiled on behalf of
Appendix 1
Drill Fence |
Hole No |
Easting |
Northing |
From |
Intercept |
Grade |
Hole Type |
|
|
WGS 84 29P N |
WGS 84 29P N |
metres |
metres |
g/t Au |
|
1304600 |
BRAB 1474 |
559780 |
1304602 |
30 |
6 |
2.75 |
RAB |
|
BRAB 1475 |
559754 |
1304600 |
27 |
3 |
1.15 |
RAB |
|
|
|
and |
48 |
3 |
5.93 |
RAB |
1304200 |
BRAB 1478 |
559830 |
1304200 |
21 |
15 |
1.05 |
RAB |
1303800 |
BRAB 1482 |
559855 |
1303800 |
6 |
3 |
1.06 |
RAB |
|
BRAB 1484 |
559805 |
1303800 |
27 |
9 |
0.35 |
RAB |
1303000 |
BRAB 1540 |
559925 |
1303000 |
30 |
9 |
0.85 |
RAB |
|
BRAB 1541 |
559900 |
1303000 |
6 |
3 |
2.61 |
RAB |
Notes to Appendix 1: Drill intercepts using a 0.5 g/t Au lower cut-off grade were compiled by undertaking weighted averages of consecutive individual assays, equal to or in excess of the minimum grade of 0.5 g/t Au. Internal dilution (<0.5 g/t Au) was allowed for up to a maximum of 3m. In the event that no samples were collected in areas of poor core recovery, a zero grade was ascribed to the zone, even if located within a run of gold mineralisation.
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