Cora Gold Ltd on Monday said an exploration drill programme is to begin shortly at its Madina Foulbe project in east Senegal.

The West African-focused gold developer will embark on a 2,000 metre drill programme to evaluate prospective gold opportunities within the Mako geological belt.

The programme will target the Tambor gold anomaly, a 3 kilometre long by 1.6km wide area identified during previous soil geochemistry work.

Drill contracts have been signed and preparation is underway at the site for drilling to commence on April 15 with an expected completion date in May.

Chief Executive Officer Bert Monro said: ‘The geological team is excited about the project’s geological potential given its proximity to several operating mines, while Senegal’s favourable mining jurisdiction and successful project development history further enhance its prospects.’

Cora Gold shares were up 14% to 2.00 pence each in London on Monday morning.

Copyright 2024 Alliance News Ltd. All Rights Reserved.