- Cora Gold Limited, the West African focused gold exploration company, said Thursday its Madina Fulbe permit has been renewed, and added that it is ready to drill two targets with large soil geochemical anomaly.

Cora said it received notification of the permit renewal from its joint venture partner, BB First Commodity Holding, on 15 March 2018 and subsequently completed the necessary checks to ensure that the permit was in good standing.

The gold permit covers the Madina Fulbe licence located in prolific Kedougou-Kenieba-Inlier between Mali and Senegal - which has seen over 50m ounces of gold discovered - and is valid for four years after which it may be renewed for two further three-year periods.

The Madina Fulbe permit was subject to early stage exploration by its former owners. The results of that work were made available to the Cora Gold, leading to the identification of two priority targets called the Tambor and Madina Prospects.

Dr Jonathan Forster, CEO of Cora Gold, said "Madina Fulbe is located in one of the most prolific gold regions in Africa and presents an exciting opportunity for Cora Gold.'

'The permit has had early stage exploration and shallow reconnaissance drilling completed from which two prospects were identified, both of which are overlain by large geochemical anomalies. '

'We think it is clear that the reconnaissance drilling, which showed the potential for strong grades, has not properly tested either of the structures. We look forward to completing the first stage of systematic exploration drilling at both prospects in due course.'

At 8:51am: [LON:CORA] Cora Gold Limited Ord Npv Di share price was +0.25p at 15p

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