West African-focused exploration company Cora Gold has been granted full ownership of the Tagan Permit in southern Mali.
The new permit is in relation to the 82km² partially overlying previously held ground located on the Yanfolila Gold Belt.
Cora Gold was awarded the exploration permit for a period of three years. It can be extended for two more years beyond the initial period.
Tagan Permit is located approximately halfway between the company’s Sanankoro gold discovery and the Yanfolila Gold Mine, operated by Hummingbird Resources.
Historic exploration conducted across the permit returned results of 44m graded at 1.1g/t Au (air core) and 14m at 1.7g/t Au (diamond core).
The company has previously collated historical data and conducted additional fieldwork across the permit in the second quarter this year.
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More than 20 prime targets were discovered for an exploration programme.
Commenting on the exploration permit, Cora Gold CEO Jon Forster said: “The Tagan permit is a great addition for Cora Gold and its portfolio. It is very pleasing to have the most prospective part of an area previously held by Cora once more awarded as part of the Tagan permit, extending our time to explore and assess the area for up to seven years.
“Initial results from recent fieldwork have indicated potential instances where gold mineralisation has been overlooked by historical work. Analysis of historical data in addition to our own fieldwork has resulted in the identification of over 20 priority targets that shall form the basis for further exploration work.
“I look forward to updating shareholders with details of progress made across our regional exploration programme, as well as developments at Sanankoro ahead of the planned publication of a maiden mineral resource by 4Q19.”
The company is focused on two gold regions in Mali and Senegal in West Africa.