Predictive Discovery Ltd (ASX:PDI) has received assays from its first three holes drilled at the Kokoumbo Project in Cote D'Ivoire.
Highlights include 7.5 metres at 16.0 g/t gold from surface including 1.5 metres at 74.2 g/t gold.
Predictive holds 49% equity in the project alongside operator, Toro Gold Limited (Toro).
A total of 15 holes were drilled at Kokoumbo with more assay results expected in the next few weeks.
Paul Roberts, managing director commented: “These are very encouraging initial drill results from surface and confirm the potential to discover good grade mineralisation at Kokoumbo.
"Toro continues to make excellent progress on the Toro Joint Venture tenements both at Kokoumbo and elsewhere with the start of RC drilling of the large gold-in-soil anomaly on the Boundiali permit in northern Cote D’Ivoire.
"We will continue to release drill assay data from both of these programs over the next 2-3 months.”
Drill program background
A 15 diamond drill hole program totalling 1,610 metres was completed in April 2016.
The diamond drilling program tested three prospects: Kokoumbo Hill, Sereme and Blonzwe.
Earlier chip-channel sampling at Kokoumbo Hill included significant results from three of four channel sampled zones including 44 metres at 3.77 g/t gold.
Results of the 12 remaining holes from this initial drill program on the Kokoumbo permit will determine the next phase of exploration.
Toro joint venture
Predictive is in joint venture with Toro, a UK-based company, on six granted permits and two permit applications in Cote D’Ivoire.
Predictive now holds 49% and Toro can earn a further 14% by spending US$2.5 million.
At this stage, Predictive plans to contribute 35% of the ongoing expenditure once Toro achieves its 65% equity.
Analysis
The Predictive share price is up 160% year to date currently trading at circa $0.008.
These recent shallow high grade gold results validate the benefits of strong land holdings in countries with secure mining codes and histories of major gold discoveries.
The Kokoumbo permit is located some 40-50 kilometres from Newcrest Mining’s (ASX:NCM) Bonikro gold mine and Endeavour’s Agbaou gold mine within the Oume-Fetekro greenstone belt.
Predictive is benefiting from a gold price that broke through its 12 month highs over the past two weeks.
With assays from the remaining 12 diamond drill holes to be received over the coming weeks, the company is leveraged to further exploration success at its Kokoumbo project in Cote D'Ivoire.
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