Cora Gold Limited (AIM: CORA), the West African-focused gold developer, has announced assay results from greenfield drilling at the Dakounkoura South target within its flagship Sanankoro Gold Project in southern Mali. Four reconnaissance holes all intersected mineralisation, extending the total drill-defined strike length of the Sanankoro structure to greater than 8km. The results add to a project already underpinned by a JORC-compliant mineral resource estimate of 1,044 koz at 1.04 g/t gold and a 2025 definitive feasibility study outlining a mine life of 10.2 years, making the new discovery relevant to investors monitoring resource growth potential.

Key Points

  • Cora Gold Limited (AIM: CORA) — West African gold developer focused on the Sanankoro Gold Project in southern Mali
  • Greenfield drilling at Dakounkoura South identified 500 metres of strike of a new oxide mineralisation zone, with all four reconnaissance holes intersecting mineralisation
  • Best intercept of 35m at 0.40 g/t Au from 5m in hole SC0751; combined Dakounkoura and Dakounkoura South strike length now approximately 1.2km to a depth of 120 metres
  • Investors should watch for pending assays from Zone A, Zone C, TRA07, Kary, and Zone B, as well as progress on Mali mining permits

Dakounkoura South Reconnaissance Holes Confirm New Oxide Mineralisation Zone at Sanankoro

Four reverse circulation reconnaissance holes, totalling 392 metres in depth and spaced 100–200 metres apart, were drilled at Dakounkoura South, located 1km directly north of the Zone B North deposit. The best intercepts include 35m at 0.40 g/t Au from 5m in SC0751, 16m at 0.85 g/t Au from 20m in SC0753, 11m at 0.55 g/t Au from 66m in SC0752, and 28m at 0.27 g/t Au from 51m in SC0750. The announcement states that all intercepts lie outside existing mineral resource estimate models, and that two or more parallel zones of mineralisation were identified, with a possible third zone not yet intersected by drilling.

Sanankoro Structure's Total Drill-Defined Strike Now Exceeds 8km, Remaining Open in All Directions

The Dakounkoura South results extend the total drill-defined strike of the Sanankoro Main Shear Zone structure to greater than 8km, excluding the Selin deposit, and the structure remains open in all directions according to the announcement. The combined Dakounkoura and Dakounkoura South strike length now stands at approximately 1.2km to a vertical depth of 120 metres. A 2022 exploration target modelled by independent consultancy CSA Global estimated a tonnage range of 5.9–8Mt and a grade range of 0.60–1.20 g/t Au for the Dakounkoura and neighbouring Dakounkoro targets, though further drilling is required before a maiden inferred mineral resource can be declared.

2026 Drill Programme Progress: 14,081 Metres of RC Drilling Completed, Diamond Drilling Ongoing

The 2026 reverse circulation drill programme has now concluded at a total of 14,081 metres, expanded during the programme owing to positive results, the announcement states. Diamond drilling for both resource growth and metallurgical test work continues, with total metres expected to exceed 1,500 metres. Assays remain pending from Zone A, Zone C, TRA07, Kary, and remaining Zone B holes, meaning further results are due before the full scope of potential MRE growth is known. The drill programme is designed to expand the current 1,044 koz resource base and extend mine life beyond the 10.2 years outlined in the 2025 DFS.

Sanankoro Project Fully Funded Through US$120 Million Gold Stream as Mali Permitting Advances

Cora Gold secured a binding US$120 million gold stream in April 2026, which the company states fully funds Sanankoro's development through to production alongside existing equity. The stream was amended in August 2026 to allow up to 50% replacement with traditional senior debt, subject to timing conditions including receipt of the Mali mining rights permit. The 2025 DFS reported a post-tax NPV of US$365 million and a post-tax IRR of 98%, based on a gold price of US$3,500 per ounce. Permitting progress with the Government of Mali remains a key near-term risk and milestone for investors to monitor.