Starvest PLC Update on Investee Company - Cora Gold Limited
February 07 2018 - 5:14AM
RNS Non-Regulatory
TIDMSVE
Starvest PLC
07 February 2018
7 February 2018
Starvest Plc ("Starvest" or "the Company")
Update on Investee Company - Cora Gold Limited
Starvest PLC (LON:SVE), the London Stock Exchange AIM listed
specialist mining and resources investment business, is pleased to
announce investee company Cora Gold Ltd (LON:CORA) has provided
positive drilling results from its flagship Sanankoro gold project
in West Africa.
Highlights:
-- Stage 1 drilling programme completed at flagship Sanankoro project
-- New gold zone discovered approximately 1.2km long with
potential to increase to more than 3km
-- Visible gold observed in many of the drill holes
-- Drill intercepts include: 17m @ 5.43g/t from 67m downhole,
11m @ 5.24g/t from 4m downhole including 1m @ 52.8g/t
The Cora Gold announcements may be found at the following web
addresses:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CORA/13511969.html
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CORA/13492321.html
Callum Baxter, Chairman/CEO of Starvest commented, "The initial
results of Cora Gold's first drilling programme since admission to
AIM are very pleasing. The team at Cora have produced exciting
drill results over a significant strike length from their Sanankoro
project which lies in a prolific region of West Africa. Good
mineralised widths, up to 50g/t gold with visible gold observed in
many of the holes, and there is potential to more than double the
length of mineralisation to around 3km. We look forward to the
announcement of further results from their on-going drilling
campaign."
Cora Gold Ltd - Overview
Cora Gold holds more than 1,000 square kilometres of exploration
ground, with many licences displaying highly prospective gold
targets, in the Yanfolila and Kenieba areas of Mali and Senegal in
West Africa. The projects are in a prolific region with several
relatively recent discoveries including Sadiola (14Moz), Loulou
(12Moz), Fekola (4.5Moz), Sabodala (4.4Moz), and Kobada (2.4Moz),
and interest from several larger global gold miners.
Cora Gold has a highly experienced and successful management
team with proven track records in multi-million ounce gold
discoveries in Africa, many of which have been developed into
profitable mines. CEO Jon Forster is an experienced exploration
geologist with over 35 years in Africa, while CFO Craig Banfield
has been involved in private and public mineral exploration
companies for over 20 years.
Since the company's IPO in October last year Cora Gold has
completed a drill programme at Sanankoro. This programme comprised
broad spaced Air Core/Reverse Circulation drilling to maximum
depths of 100m. Drill results have confirmed the discovery of a new
gold zone at least 1,200m long with the potential to increase to
more than 3,000m. Gold results include 17 metres @ 5.43g/t from 67
metres downhole (including 8 metres @ 11.24g/t); 11 metres @
5.24g/t from 4 metres downhole (including 1 metre @ 52.80g/t); 20
metres @ 2.15g/t from 77 metres downhole; 15 metres @ 1.41g/t from
surface; and 10 metres @ 1.37g/t from 39 metres downhole. Visible
gold was observed in many holes indicating widespread
mineralisation along structures.
The target zone remains open to the north, south and at depth.
Results indicate strong potential for the zone to carry economic
grades and widths and demonstrates extensive gold mineralisation in
the area. Cora Gold has numerous other targets not yet tested by
drilling which may have similar styles of gold mineralisation along
the 15km of strike in the belt.
Infill and confirmatory drilling is currently underway at
Sanankoro. In addition, the company has identified two new targets
at Tekeledougou within their Yanfolila project area which have been
prioritised for reconnaissance drilling during the current quarter.
The Tekeledougou targets cover a large area near (25km) the
operating Yanfolila Gold Mine (1.8M oz Au).
Starvest will continue to closely follow the development of Cora
Gold and we look forward to additional news from Sanankoro and
Tekeledougou.
Starvest is a specialist mining and resource investment company
and has the industry knowledge and market exposure to select
compelling opportunities early in the investment cycle.
Callum N Baxter
Chairman & Chief Executive
7 February 2018
Enquiries to:
Starvest PLC
Callum Baxter Chairman/CEO 07922 255 933
cbaxter@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke 02073 835 100
SI Capital Ltd (Appointed Broker)
Nick Emerson 01483 413 500
This information is provided by RNS
The company news service from the London Stock Exchange
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