Predictive Discovery Ltd (ASX:PDI) and Toro Gold Limited have partnered up at the Boundiali Project in Cote D’Ivoire, and the initial assays are impressive.
While it is still early days, assays from the first eight of 71 reverse circulation holes are both broad, and high-grade.
At the Nyangboue Prospect, highlights include:
- 28 metres at 4.0g/t gold from 3 metres, including 1 metre at 49.7g/t gold;
- 14 metres at 5.5g/t gold from 32 metres, including 1 metre at 31.6g/t gold; and
- 20 metres at 2.0g/t gold from surface
What makes this more interesting, is that these intercepts appear to be from separate but adjacent mineralised zones on one drill cross section across a 2 kilometre long strong and coherent gold-in-soil anomaly.
Visible gold has been panned from the drill chips.
Pending drilling results
The pending assays will start to outline the potential significance of today's initial results, here is the location information, and approx hole numbers.
+900 metres to north, 5 holes
+600 metres to north, 17 holes
+300 metres to north, 16 holes
Today's assays (Distance from here)
+300 metres to the south, 12 holes
+600 metres to the south, 7 holes
This drilling covers the major extent of the 2 kilometre long gold-in-soil anomaly.
Once all of the assays are in, we can then determine the potential scale.
Today's intercepts are part of a broader zone about 70 metres wide, and we will know how far this grows as assays are returned over the next two months.
JV details
Predictive is in joint venture with the UK-based Toro Gold Limited on six granted permits and two permit applications in Cote D’Ivoire.
The Toro joint venture operates through Predictive’s subsidiary, Predictive Cote D’Ivoire SARL (Predictive CI) of which Predictive now holds 49%.
Toro can earn a further 14% of Predictive CI by spending US$2.5 million, which would then lift its equity to 65%.
At this stage, Predictive said that it plans to contribute 35% of the ongoing expenditure once Toro achieves its 65% equity.
Analysis
The scale of the soil anomaly and the grades and widths encountered in these first few holes offer the hope that Predictive and Toro have identified a major gold mineralised system.
Add to this, visible gold has been panned from the drill chips.
The news flow will remain strong as results from an additional 63 holes flow through well into July.
There will also be an additional 1000 metres of drilling.
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