Announcement Date: 2022-11-21
Announcement Type: Feasibility Study
Announcement Code: JORC
Company name: Cora Gold Ltd.
Project name: Sanankoro
Location: Mali
Commodities: Gold
Highlight: Feasibility Study result incl. Post Tax NPV (8%) of USD $73.1M & IRR of 37.4%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Cora Gold Limited, the West African focused gold company, is pleased to announce Maiden Reserves and the results of a Definitive Feasibility Study (‘DFS’) for its flagship Sanankoro Gold Project (‘Sanankoro’ or the ‘Project’) in southernMali. Pre-production capital cost of US$108m, including US$9m mining pre-production and US$8m contingency. The pre-production capital cost estimate is based on a contractor mining scenario and therefore excludes capital costs associated with a mining fleet. The mining of Selin, Zone A and Zone B is well-suited to typical open pit methods using a backhoe configured excavator and truck fleet which will be operated by a mining contractor. Considering the highly-weathered nature of the orebody, both the oxide and transitional material are viewed as “free-dig” with no need for drill and blast activities. Open pit operations will be undertaken using 5 metre benches which will be stacked to 10 metres at final limits. It is the intention that topsoil (initial 30cm) be stripped
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