The project sits on a major, under-explored 14+ km structure in a prolific West African gold belt.
Rapid development timeline: Sanankoro has a clear, fast-tracked path to production, with a definitive feasibility study (DFS) completed and significant financing already secured. Exploration potential: The project sits on a major, under-explored 14+ km structure in a prolific West African gold belt, offering significant upside to increase the current 1 044 000-ounce resource. Improved economics: Updated studies have continued to enhance project economics, with significant annual free cash flow expected, particularly in the early years of production. “The project presents significant exploration upside, with all deposits remaining open along strike. The current resource stands at over one million ounces, and extensive drilling is expected to materially expand this base. In addition, we have identified an exploration target of a further 490-1,270 koz. Our objective is to sustain a production profile of around 60 000 to 80 000 ounces per annum over an extended mine life. Achieving this will require continued drilling and further technical studies to convert exploration potential into defined resources.” At Mining Indaba, Monro met with potential contractors as part of advancing project development plans. Strengthening Cora’s management team Cora Gold has recently strengthened its management team with the appointment of senior personnel experienced in West African mine development. These include Djibril Sanogo as ESG Manager, and Lourens Steenekamp as Project Manager. Steenekamp joined in 2023 to lead construction at the flagship Sanankoro Gold Project, bringing more than 30 years of mining
Updated studies have continued to enhance project economics.
build, it materially enhances projected cash flows. At current prices, the previously estimated 1.1-year payback period would be substantially shortened.” According to Monro, Sanankoro is considered a highly attractive project with its high-grade oxide, near-surface, open-pit potential, which allows for lower-cost mining and processing. The project boasts strong economics, including a 65% internal rate of return (IRR), a
short payback period of just over a year, and an estimated 10.2-year mine life, with over 1 million ounces of total target resources. Sanankoro as an attractive asset: Low cost & high margin: The project is designed as a free-digging, low-strip ratio open-pit operation, eliminating the need for drilling and blasting, with an average AISC projected below $1500 per ounce.
engineering experience, including senior roles at Gold Fields and Resolute Mining. “Steenekamp has been involved in several construction projects in West Africa, having worked for Perseus Mining and Resolute Mining. We also have
Over the next two years, we expect to expand our production profile significantly as we advance toward first production at Doropo by Q3 2028.
Murray Paterson – Head of Geology: an internationally experienced geologist responsible for leading exploration and resource development efforts. Paterson worked for Randgold Resources and, more recently, for Hummingbird Resources. We have a strong management team in place, ready to begin with construction of the Sanankoro project as soon as we receive our mining permit,” concludes Monro. n
High recoveries: Metallurgical tests indicate high gold recoveries of over 90% via a conventional carbon-in- leach (CIL) plant.
April 2026 | www.modernminingmagazine.co.za MODERN MINING 19
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