Cora completes stage 1 drilling at Sanankoro, identifies new targets

Published at Jan 12, 2018, in Small Caps

This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. Finfeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.

AIM-listed gold explorer, Cora Gold (AIM:CORA) today announced to the market that, following the drill rig mobilisation in November last year at its flagship Sanankoro Gold Discovery in Southern Mali, it has completed the Stage 1 reconnaissance drill.

The company is now awaiting assay results, which are expected before the end of the month. 29 drill holes have been completed for nearly 2,800 metres of mixed aircore (AC) and reverse circulation (RC) drilling, ranging between 68 metres and 140 metres in length.

27 drill holes have been completed at the Sanankoro Target 1 over a strike length of nearly three kilometres, with two drill holes completed at Sanankoro Zone A.

Of particular note is the fact that visible gold has been observed in many of these holes, which indicates widespread mineralisation along the structures.

However, it is early stages for the company and investors should seek professional financial advice if considering this stock for their portfolio.

A new structure (Zone C), located to the west of Zones A and B, has also been identified at the Sanankoro Target through mapping of artisanal sites and surface sampling.

Stage 2 drilling is now commencing, with an additional 4,000 metres of combined RC/AC drilling and 500 metres of diamond core drilling focusing on Sanankoro Zones A, B and C – this is set to be completed in the coming months.

sanakoro gold project

Map of drilling locations at Sanankoro (Source: Cora Gold)

New, highly prospective drill-ready targets have also been identified at the Tekeledougou Project, which lies some 60 kilometres south of Sanankoro and is situated within eight kilometres of Hummingbird Resources’ producing Yanfolila Plant (Hummingbird Resources is a 33.85 per cent shareholder in Cora Gold).

Yanfolia Gold belt tenements

Map of Yanfolila Gold Belt tenements (Source: Cora Gold)

The first target is the site of significant artisanal workings that have exposed a quartz shear structure approximately 30-40 metres in width along a strike length of approximately 600 metres. Here, the geology exposed by the artisanal workings comprises well developed, stacked, sheeted and stock worked, predominantly east-west oriented intense quartz veining.

Cora believes there is potential to extend the footprint, with a potential target of greater than one kilometre strike length. The company is planning to drill at Tekeledougou by end of Q1 this year.

Cora Gold CEO Dr Jonathan Forster said: “We are very pleased with the progress of the drill program at Sanankoro to date. The presence of visible gold in many of the drill holes along nearly 3km of strike is particularly encouraging as is the visual identification of key lithologies that appear to host gold mineralisation. I look forward to reporting the initial assay results which are targeted by the end of January 2018.

“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 Tekeledougou Project within the Yanfolila Project area, which will be prioritised for reconnaissance drilling towards the end of Q1 2018. They represent exciting prospects over large, already identified strike lengths, within close proximity to Hummingbird Resources’ now operational Yanfolila Mine and Plant.”



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!