Cora Gold advances on Sanankoro Gold Project
Cora Gold Ltd. has advanced front-end engineering design (FEED) and pre-construction efforts at its Sanankoro Gold Project in southern Mali, with engineering work on track for completion by the fourth quarter of 2026.
The engineering contractor SENET has finalized all fieldwork and three-dimensional plant modelling. Key equipment suppliers have actively contributed to designing the crushing, milling, and gold recovery circuits, supporting decisions on critical long-lead equipment pending the mining permit approval.
Alongside engineering, pre-construction activities have progressed steadily. Cora has completed land compensation for the planned tailings storage facility and conducted geotechnical drilling at the proposed processing plant and power station sites. These results will refine foundation designs for the infrastructure. Additionally, the exploration camp has been upgraded with enhanced security, accommodation, and utilities in preparation for construction.
The company aims for the engineering and early works programs to shorten the timeline to construction and first gold production, contingent on securing necessary permits. The FEED program remains on schedule for completion in late 2026.
Separately, Cora is conducting resource expansion drilling to increase Sanankoro’s existing JORC-compliant mineral resource of over one million ounces of gold. The project, located in Mali’s Yanfolila Gold Belt, is planned as an open-pit oxide gold operation with a Probable Reserve of 531,000 ounces.
A feasibility study completed in 2025 showed a strong post-tax internal rate of return of 98% and a post-tax net present value of US$365 million, based on a gold price of US$3,500 per ounce.
In April 2026, Cora secured a binding US$120 million gold streaming agreement to fund Sanankoro’s development through production alongside existing equity. This agreement was amended in August 2026, to allow up to half of the streaming facility to be replaced with conventional senior debt, offering flexible financing options.
Cora’s immediate priorities remain completing engineering, advancing pre-construction activities, and obtaining the necessary permits to move forward with full construction. The company also holds exploration interests in Senegal and continues to evaluate opportunities to expand its mineral resources.
