Predictive Discovery Ltd’s (ASX:PDI) Ferkessedougou North joint venture project in Cote D’Ivoire is shaping up as a “significant discovery” with broad widths and high-grade gold returned from trenching.
The company’s managing director Paul Roberts told Proactive Investors from West Africa that the trenching had revealed the potential for an open cut operation at the project.
“Previously we had one drill section that we didn’t fully understand but now we can see that the granite is almost continuously mineralised and shaping up to have a reasonable grade.
“Continuity also impressive”
“It is broad and well suited to a deep open pit, depending on final grade of course, while the continuity is also very impressive.”
The trenching has outlined an elliptical-shaped gold mineralised granitic intrusive body about 160 metres long and 90 metres wide.
Roberts said this indicated that an open pit would have a low strip ratio because of the body’s shape.
While this was expected to yield significant ounces, he said the footprint was small relative to the 200 x 50-metre soil grid.
“We can fit bodies this size on just one soil line or between them so the scope for more discoveries in the 17-kilometre-long zone of anomalies is excellent.”
Shares up 40%
There has been a positive response from investors, with shares up 50% to 1.5 cents.
Ferkessedougou North is one of two primary focus areas in the Predictive-Toro Gold joint venture with the other being Boundiali, also in Cote D’Ivoire’s north.
These are on the same greenstone belt as the 4.6 million-ounce Tongon and 1 million-ounce Sissingue gold mines.
Predictive Discovery’s West African gold interests.
Intersections from bottle roll assays of channel samples in the trenches include 34 metres at 5.29 g/t gold, including 2 metres at 75.70 g/t, and 92 metres at 1.76 g/t, including 2 metres at 20.60 g/t and 2 metres at 8.04 g/t.
Other results include:
The trenching was designed to test IP anomalies and help define the geology of mineralised granite intersected in previous reverse circulation drilling in three dimensions.
Additional trench assay results are pending with a follow-up diamond drilling program expected to begin in the next four weeks.
In a statement, Roberts said: “These trenches have confirmed the discovery of a significant gold mineralised body at Ferkessedougou North.
“We now know that the thick mineralised drill intercepts reported last year correlate with a wide gold mineralised granitic body at surface.
“The joint venture’s drilling and trenching have only tested a small proportion of the 17-kilometre-long zone of gold-in-soil anomalies so far, highlighting the potential to make more such discoveries on the soil grid.
“We look forward to the start of diamond drilling soon.”
The upcoming drilling at Ferkessedougou North is in addition to the planned 10,000-metre drilling program the JV will undertake which is expected to begin at the Boundiali project.
The managing director told Proactive that the highly encouraging trenching results had prompted the company to schedule additional drilling at Ferkessedougou North.
He said that the programs would occur independently but would be simultaneous, “at least for some of the time”.
Predictive has interests in around 5,000 square kilometres of highly-prospective land holdings in Cote D’Ivoire.