Predictive Discovery Ltd (ASX:PDI) has been granted a Reconnaissance Authorisation covering 100 kilometres over the Kaninko Gold Project near the town of Kouroussa in the Siguiri Basin in Guinea.
The new authorisation contains at least one substantial artisanal mine site consisting of extensive pitting into weathered bedrock over several hectares with shallow surficial workings in lateritic cover material.
Other artisanal sites are reported on the property but have yet to be examined.
READ: Predictive Discovery’s sampling extends Kankan Project gold zone to over 7 kilometres
With five projects covering 500 square kilometres of highly prospective landholdings, the Company is undertaking multiple early-stage exploration programs across its Guinea projects with encouraging results from both the Kankan and Nonta projects.
The Kaninko project is about 10 kilometres from the Cassidy Gold Kouroussa gold deposit
The Kaninko area was highlighted by Predictive during its terrain-scale assessment of the Siguiri Basin in late 2018.
Company geologists will begin geological mapping and geochemical sampling of the artisanal sites shortly and follow up with regional stream sediment sampling when water levels fall.
Initial assay results are expected in the next four to six weeks.
READ: Predictive Discovery follows Ouarigue South gold discovery with large-scale soil sampling
Predictive’s strategy is to maximise the probability of making multiple gold discoveries while minimising expenditure and the frequency of dilutive capital raisings.
As part of this strategy, Predictive has entered into joint ventures with development-oriented partners on projects in Cote D’Ivoire and Burkina Faso.
The company holds substantial minority interests (30-49%) in these projects with most exploration activity funded by partners.
This approach has yielded gold discoveries such as the recently announced Ouarigue South discovery at Ferkessedougou North project.
Predictive is also in the early stages of exploring a series of projects in Guinea which have produced gold geochemical anomalies at the Nonta and Kankan projects.