REG - Cora Gold Limited - Completion and Submission of ESIA

Cora GoldAnnouncement

06/07/2022 07:01

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RNS Number : 4199R  Cora Gold Limited  06 July 2022

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

6 July 2022

Cora Gold Limited ('Cora' or 'the Company')

Completion and Submission of Environmental and Social Impact Assessment

 

Cora Gold Limited, the West African focused gold company, is pleased to
announce the completion and formal submission of an Environmental and Social
Impact Assessment ('ESIA') for the Company's flagship Sanankoro Gold Project
('Sanankoro' or the 'Project') in southern Mali.

 

Highlights:

-       Completion of ESIA in alignment with the International Finance
Corporation ('IFC') Performance Standards by environmental consultants Digby
Wells Environmental ('Digby Wells')

-       Formal submission of ESIA to the Direction Nationale de
l'Assainissement et du Contrôle des Pollutions et des Nuisances ('DNACPN'),
the governing administration for environmental matters in Mali

-       The ESIA is a crucial component of the Definitive Feasibility
Study ('DFS'), which is expected to be completed in Q3 2022

 

CEO of Cora Gold, Bert Monro, commented: "The completion and submission of the
ESIA marks a significant milestone for Cora as we continue to advance the
development of our Sanankoro Project towards production. This, together with
the recent completion of our 2022 drill programme that will be used to inform
an updated Mineral Resource Estimate, mark the next key objectives towards
delivering our DFS.

 

"The ESIA work programme comprised multiple workstreams, including stakeholder
engagement, specialist baseline and impact assessment studies (including
biodiversity, water and social studies), an integrated environmental and
social management programme, a conceptual closure and rehabilitation plan, a
resettlement policy framework and a community development plan.  The ESIA,
completed in accordance with Malian requirements for Environmental Permitting
and in alignment with good international industry practice including the
International Finance Corporation Performance Standards, upholds Cora's
commitment to excellence and working with our host communities to ensure an
optimum outcome for all our stakeholders for the development of the Sanankoro
Gold Project.

 

"We will continue to work closely with the relevant authorities in Mali as our
ESIA application progresses and as we advance the next steps for the DFS ahead
of its completion in Q3 2022."

 

Further Information

 

Cora has completed all specialist baseline and impact studies in support of
the ESIA submission to the Mali authorities.  The ESIA document has been
submitted in French to the DNACPN, the governing administration for
environmental matters in Mali.

 

A validation site visit was conducted by an inter-ministerial delegation
assigned by the DNACPN to evaluate Sanankoro Gold Project's Environmental
Permit Application Process in August 2021 which preceded the final ESIA
investigations. Following the ESIA submission, a validation workshop will be
held in Bamako with an assigned delegation to provide the Company and Digby
Wells with their feedback on the ESIA.  Following the incorporation of
further material to address any matters raised by the DNACPN, an updated and
final ESIA submission will be tendered, and the DNACPN statutory approval
period will commence. Once an ESIA is approved then an Environmental Permit is
issued and the permit holder is then able to apply for a Mining Permit.

 

The Company has maintained close communication with the DNACPN and all
relevant groups throughout the period of preparing the ESIA report and
anticipates no significant issues with the submission.  The Company will
provide updates on progress of the ESIA in due course.

 

Market Abuse Regulation ('MAR') Disclosure

 

Certain information contained in this announcement would have been deemed
inside information for the  purposes of Article 7 of the Market Abuse
Regulation (EU) No 596/2014 ('MAR'), which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, until the release of this announcement.

 

* * ENDS * *

 

For further information, please visit http://www.coragold.com
(http://www.coragold.com/)  or contact:

 

 Bert Monro           Cora Gold Limited            info@coragold.com (mailto:info@coragold.com)

 Craig Banfield
 Christopher Raggett  finnCap Ltd                  +44 (0)20 7220 0500

 Charlie Beeson       (Nomad & Joint Broker)
 Andy Thacker         Turner Pope Investments      +44 (0)20 3657 0050

 James Pope           (Joint Broker)
 Susie Geliher        St Brides Partners           pr@coragold.com (mailto:pr@coragold.com)

 Charlotte Page       (Financial PR)

 Selina Lovell

 

Notes

 

Cora is an emerging West African gold developer with three principal de-risked
project areas within two known gold belts in Mali and Senegal covering
c.1,000 sq. km. Led by a team with a proven track record in making
multi-million-ounce gold discoveries that have been developed into operating
mines, its primary focus is on developing the Sanankoro Gold Project in the
Yanfolila Gold Belt, Southern Mali, where Cora hopes to commence construction
of an open pit oxide focussed gold mine in 2022. An updated mineral resource
estimate on the Project was published in November 2021 which increased the
Resources by over 200% (from the 2019 Maiden resource) to 809,300oz Au. A
Definitive Feasibility Study is expected to be completed in Q3 2022.

 

 

 

 

 

 

 

 

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