Proactive Investors - Run By Investors For Investors

Predictive Discovery making progress with gold projects in West Africa

The Samira greenstone belt hosts the 2.5-million ounce Samira Hill gold deposit across the border in Niger.
Picture of drilling rig at Bira prospect
Previous drilling results at Nyangboue have included 20 metres at 10.4 g/t gold from 38 metres

Predictive Discovery Ltd’s (ASX:PDI) is mainly targeting gold ore resources in West Africa, an area that appeals to management given its history of delivering large resources.

The company is particularly focused on Burkina Faso and Cote D'Ivoire.

The Burkina Faso projects are within the Birimian gold belts in West Africa which contain numerous gold discoveries, a number of which are in production.

Promising recent results in Burkina Faso

As recently as April Predictive Discovery had some promising exploration success at its Bira prospect in Burkina Faso.

Assay results from a 5.1-kilometre reverse circulation drilling program included 33 metres at 1.4 g/t gold and 14 metres at 1.8 g/t gold.

Further results are pending, and with mineralisation open along strike and down dip this is a prospect to watch.

READ: Predictive Discovery triples length of gold zone at Bira in Burkina Faso

Managing director Paul Roberts said: “With these new results, the Bira mineralisation is starting to shape up as an important addition to the PDI portfolio of high potential gold prospects.

“Coupled with the extension of known gold, power auger anomalies for 5 kilometres south of the drilled zone, the results suggest that the Bira trend may add substantially to the inventory of gold mineralisation on the Burkina Faso joint venture properties.”



Tenements cover 90 kilometres of strike length

Predictive Discovery’s tenement holdings in Burkina Faso are in the east of the country, covering about 90 kilometres of strike length of the Samira Hill Greenstone Belt.

This belt hosts the 2.5-million ounce Samira Hill gold deposit across the border in Niger.

While gold mineralisation has been identified on multiple prospects in the area controlled by the company, Bira is closest to Samira Hill.

Joint venture with Progress aimed at early scoping study

Predictive Discovery, along with joint venture partner Progress Minerals International, has accelerated its exploration efforts in Burkina Faso.

The joint venture is aiming to advance exploration with a view to possibly expediting a scoping study on a multi-pit mining operation feeding a central mill.

An agreement negotiated in September 2017 allows Progress to earn a 70% interest in all permits within the area of influence in eastern Burkina Faso.

In order to be granted its earn-in rights, Progress is required to invest $5 million in exploration and project evaluation.

Nyangboue prospect features high-grade mineralisation

Predictive Discovery is also targeting a highly prospective area in Cote d’Ivoire, which is part of the Boundiali permit.

This permit is directly north of the Nyangboue gold discovery.

It covers 16 kilometres of the interpreted north-trending structure which is inferred to control both the Nyangboue mineralisation and an arsenic-gold anomalous trend which extends south from there to the Nyangboue South prospect.

Acquisition of up to 85% on completion of DFS

The permit is held by local Cote D’Ivoire company DS Resources SARL (DSR).

Predictive Discovery Cote D’Ivoire SARL has negotiated an agreement with DSR to acquire up to 85% ownership of the permit on completion of a definitive feasibility study.

Previous drilling results have included 20 metres at 10.4 g/t gold from 38 metres, 30 metres at 8.3 g/t from 39 metres and 9 metres at 7.9 g/t from 99 metres.

At this stage, follow-up geological interpretation has led management to point to a possible mining strategy.

Given the widths and grades in this central zone, the company believes there is the potential to discover a viable underground mining target.

This would possibly involve continuing a considerable distance down plunge to the north beyond the limit of the shallow, potentially open-pittable mineralisation. 

View full PDI profile View Profile

Predictive Discovery Ltd Timeline

Related Articles

The Australian Securities Exchange board and Aussie flag
November 05 2018
Chairman James D Calaway gives us the lowdown as the company prepares to begin trading as ioneer Ltd today.
Post-tax net present value of $234 million and a fast payback period of 5.3 years based on average scandium oxide price of US$1,550 per kilogram.
man standing in front of piles of bauxite ore
September 05 2018
Metro is targeting around two million tonnes of production this calendar year.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use