Predictive Discovery Ltd (ASX:PDI) welcomes Resolute Mining Ltd (ASX:RSG) as the company’s new joint venture (JV) partner on its Cote D’Ivoire JV following Resolute’s takeover of Toro Gold Limited.
The current Toro JV covers 2,344 square kilometres in granted permits including the key gold exploration projects of Ferkessedougou North, Boundiali and Kokoumbo.
The first two projects have enjoyed recent drill success including 45.3 metres at 3.16 g/t gold from Ferkessedougou North and 27 metres at 2.42 g/t from Boundiali with new zones of gold mineralisation discovered on both projects.
Once the transaction is approved, Resolute will hold a 70% stake in the JV with Predictive holding 30%.
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Predictive Discovery managing director Paul Roberts said: “Following Resolute’s announcement of the Toro acquisition last week, I have met with senior Resolute management to discuss the future of our joint venture projects.
“Based on these early stage discussions, I am confident that the joint venture relationship will continue on the same excellent terms we have enjoyed with Toro Gold Ltd over the past four years.
“Moreover, a partnership with a large, successful and well-funded Perth-based mining company with a clear focus on expansion in West Africa is a definitive positive for Predictive and its shareholders.”
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Roberts continued: “We note that 4,290 metres of drill results are pending from the recent Boundiali reverse circulation (RC) drill programs and that soil sampling on Ferkessedougou North to identify new Ouarigue-South style mineralised granite bodies continues.”
Predictive holds 15 gold projects over more than 6,000 square kilometres across West Africa’s Birimian Greenstone Belt in Burkina Faso, Cote D’Ivoire and Guinea.
The company’s objective is to find more than 2 million-ounce gold deposits with its prospect generator model providing a pipeline of continuous and early-stage exploration opportunities to maximise the probability of making gold discoveries.