Predictive Discovery Ltd (ASX:PDI) has received an update of more gold being discovered by its partner Toro Gold Limited at the Boundiali Project in Cote D’Ivoire.
The latest reverse circulation drilling highlights include bonanza grade gold, and build on previous results of visible gold.
The continued success of the drilling program has PDI's shares tripling to $0.015 over the past six weeks.
Drill highlights from the Nyangboue Prospect:
- BRC004BIS (BRC004 twin hole): 20 metres at 10.5/t gold from 38 metres, including 1 metre at 144.5g/t gold and 1 metre at 21.4g/t gold.
- BRC048 (on the drill line 320 metres south of BRC004): 10 metres at 3.3g/t gold from 1 metre, including 1 metre at 27.4g/t gold; and 8 metres at 1.3g/t gold from 21 metres.
Paul Roberts, managing director for PDI, commented:
“As we receive more assay results from the Nyangboue prospect, a picture is slowly emerging of a large and complex gold mineralised system.
"With these new results, we now know that gold mineralisation extends for at least 640 metres along strike and is open to the north, south and at depth.
"But there is still a lot more news to come - from five more drill lines covering 1.3km of strike, for which we are yet to receive any results."
It is important to recognise that a 320 metre drill line spacing in a gold deposit of this type is very wide.
Potential exists to define large amounts of gold mineralisation by infill drilling between the three drill lines for which the partners already have results.
PDI and Toro
PDI 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 PDI’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 this stake.
Gold mineralisation has now been intersected on three drill lines, with a minimum strike extent of at least 640 metres, open to the north, south and at depth.
News flow will remain strong in coming weeks, with assays pending from another 57 holes.
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.