Highlights from the first results of stage one drilling at Target 1 included 11m at 5.24g/t gold from 4m including 1m at 52.8g/t.

Sanankoro was previously owned by Hummingbird Resources (AIM:HUM) and Gold Fields (JSE:GFI), which had spent US$10 million on exploration there.

CEO Jon Forster said the latest results vindicated the strategy of stepping away from the known areas of mineralisation and provided great encouragement for the potential of at least 15km of identified strike.

"We have numerous clear drill targets that are not yet tested by AC (air-core) or RC (reverse circulation) drilling which may have similar styles of gold mineralisation and, as a consequence, our belief in the 1 million-plus ounce potential of the project is enhanced," he said.

Cora said mapping suggested Target 1 possibly linked to Zone B, 4km to the south.

Stage two drilling is underway at Zones A, B and C and the above results will be added to the inventory of priority follow-up infill drilling targets.

Cora, which debuted on London's AIM in October, was up 3.86% to close at 17.5p.