Predictive Discovery Ltd's (ASX:PDI) shares soared yesterday after the company exited a trading halt following the discovery of high-grade gold at the Boundiali Project in Cote D’Ivoire.
At the close of trade yesterday, Predictive shares were up 50% from the pre-halt valuation, with over 42 million shares traded.
At one stage the shares were up 75%.
Predictive, and UK company Toro Gold Limited, are partners at Boundiali, which has delivered some impressive initial drilling results.
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.
An additional 1000 metres will also be drilled, ensuring strong news flow over the next couple of months.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.