Predictive Discovery Ltd (ASX:PDI) has been granted three exploration authorisations covering 250 square kilometres in southern Mali.
All three areas are in the vicinity of recorded gold and lithium occurrences.
Field work on the new tenure has commenced, which includes stream sediment sampling, rock chip sampling, geological mapping and geophysical data interpretation.
Exploration authorisations act as a free option
Exploration authorisations in Mali give holders the rights to undertake reconnaissance field work and, if warranted, make a full exploration permit application within four months of grant.
No fees are payable, so they represent a free option to assess an area’s potential before applying for long-term tenure.
Considering option and joint venture agreements
Predictive’s managing director Paul Roberts said: “We are very excited to start exploration in Mali, a country with great potential for large new greenfields gold discoveries.
“We started work on an assessment of opportunities in the country, using our Predictore methodology, in mid-last year, with initial field inspections of priority areas in late 2017.
“While these new authorisations give us an initial foothold in the country, we are also in discussions with local permit holders regarding possible option/joint venture agreements with the aim of expanding our footprint in the country further.”
READ: Predictive Discovery drill results reveal emerging West Africa gold discovery
Earlier this week Predictive received initial drill results from an ongoing 5,000-metre reverse circulation (RC) drill program on the Bira prospect within the Burkina Faso Joint Venture.
Results have been received for 14 holes, totalling 1,496 metres of the planned 5,000 metres.
Assays received include 17 metres at 1.74 g/t gold from 2 metres and 27 metres at 1.83 g/t gold from 23 metres.
Significantly, these initial drill results confirm that the Bira gold mineralisation is highly consistent, continuous and open in all directions.