18:00 Thu 11 Jan 2018
Cora Gold Limited - Stage 1 Drilling Complete, New Targets Identified
Stage 1 Drilling Complete at Sanankoro Gold Discovery and Exciting New Targets Identified
http://www.rns-pdf.londonstockexchange.com/rns/5214B_-2018-1-10.pdf
Highlights
· 29 drill holes completed for nearly 2,800m of mixed aircore ("AC") and reverse circulation ("RC") drilling ranging between 68m and 140m in length
o 27 drill holes completed at Sanankoro Target 1 over a strike length of nearly 3km
o Two drill holes at Sanankoro Zone A
· Visible gold observed in many holes indicating widespread mineralisation along the structures
· Assay results expected prior to the end of
· New structure (Zone C) located to the west of Zones A and B has been identified through mapping of artisanal sites and surface sampling
· Stage 2 drilling commencing with 4,000m of combined RC/AC and 500m of diamond core focusing on Sanankoro Zones A, B and C
· New, highly prospective, drill ready targets identified at
Dr
"We are now commencing Stage 2 of the drilling campaign, focusing on connecting Zones A and B into a single larger zone as well as completing the first stages of exploration at Zone C, a potential parallel repetition of these structures to the west. Zone C is a new structure identified by field work during Stage 1 of the drill programme.
"In addition, we have identified two extremely promising targets at our
Sanankoro - Target 1
During
Based on visual characterisation of the samples from drilling, the lithological package appears to be (from hanging to footwall) a mix of sandstones/siltstones, followed by a 30-40m wide zone of sandstone, which overlies a phyllite, which is interpreted to be carbonaceous. Visible gold was observed to lie predominantly within or close to the sandstone units.
Sanankoro - Zone A
Two drill holes (total 250m) were undertaken at Zone A to target the main north-south trending structure at Sanankoro. By using a north-west drill azimuth (rather than the historical E-W orientation) Cora planned to also target the east-west oriented quartz veins which it believes were not properly identified in the previous Gold Fields drilling. Initial results are encouraging, with visible gold and intense quartz mineralisation observed in several samples. Given the broad zones of quartz veining, the Company believes some is likely to have occurred on the east-west orientation, potentially indicating a broader mineralised structure than previously identified. Unfortunately, the drill rods became stuck approximately 140m down hole leading to one of the holes being abandoned before its final completion depth.
Figure 1: Map of Drilling Locations at Sanankoro [please view PDF]
Next Phase of Work
Sanankoro Zones A, B and C
The Company intends to complete an additional 4,000 metres of AC/RC and approximately 500 metres of diamond core drilling at Sanankoro in the coming months. This drilling will focus on extending Zones A and B and connecting them, increasing the drilled strike to over 2.5 km. In addition, a new structure called Zone C, located to the west of Zones A and B has been identified through mapping of artisanal sites and surface sampling. Similar quartz veining has been identified at Zone C, which currently extends over 1km of identified strike (refer Figure 1 for Map of Targets).
The Company has identified two additional targets at its
Figure 2: Map of Cora Yanfolila Gold Belt Tenements [please view PDF]
The second target was also extensively mined by artisanals with the pit extending 100m laterally and approximately 200m in length. During the wet season, the artisanal pit flooded, but discussions with the local artisanal miners anecdotally suggest the presence of similar quartz veining to the first target including some rich gold grades.
Cora is planning to complete up to 2,000 metres of combined AC/RC drilling on these two key targets at Tekeledougou by the end of Q1 2018.
Figure 3: East-West Oriented Quartz Stockwork at Tekeledougou [please view PDF]
** 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
Dr
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