West African gold exploration company Cora Gold has been awarded a 100% ownership of the Tagan Permit in southern Mali.

The Tagan Permit covers 82km² across the highly prospective Yanfolila Gold Belt in the country.

Cora Gold said that the Tagan Permit area overlies what it claims to be the most prospective area of the firm’s previous held permit, which expired in June 2017.

Following the completion of fieldwork in the area in the second quarter of the year, Cora has identified over 20 “priority targets” for an exploration programme that may include regional geophysics and shallow reconnaissance drilling.

Permit secured by Cora is valid for three years

The permit secured by the company is for a three-year period, with two subsequent extensions of two years each.

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 7 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 twenty 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 Q4 2019.”

Cora Gold noted that the Tagan Permit is located approximately midway between Cora’s Sanankoro gold discovery and the Yanfolila Gold Mine, which is operated by Hummingbird Resources.

Recently, Cora Gold confirmed the presence of high grade gold mineralisation at depth at the Sanankoro Gold Project located in the Yanfolila Gold Belt, Southern Mali.