Predictive Discovery Ltd’s (ASX:PDI) subsidiary, Ivoirian Resources, has been granted the 400-square-kilometre Bocanda North permit by the Cote D’Ivoire’s Ministerial Council.
The permit area was selected using the company’s Predictore in-house targeting system and is on a major structural position along strike from the Bobosso project.
It straddles a major geological contact separating greenstone from granite representing the western edge of the largest greenstone belt in Cote D’Ivoire, West Africa.
This is also the southern extension of Burkina Faso’s Hounde belt which contains several large gold deposits including Semafo Inc's (TSE:SMF) Mana Mine and Endeavour Mining Corp’s (TSE:EDV) Hounde Mine.
Managing director Paul Roberts said: “Predictive has been operating in Cote D’Ivoire since 2013 and regard it as a highly attractive destination for mining investment, both because of its high prospectivity and for its deserved reputation as an investor-friendly jurisdiction.
“Apart from our own exploration successes in Cote D’Ivoire in joint venture with Resolute Mining Limited (ASX:RSG), other Australian listed explorers such as Exore Resources Ltd (ASX:ERX) and Tietto Minerals Ltd (ASX:TIE) are reporting very exciting exploration results from the country.
“The recent commencement of mine development work on the major Yaoure gold deposit by Perseus Mining Limited (ASX:PRU) also confirms the investment attractiveness of Cote D’Ivoire.”
Fieldwork to begin
Bocanda North lies on the same structural position as the Bobosso project, which covers a large gold mineralised system previously explored by Predictive.
The company retains a trailing interest in Bobosso, which will result in cash payments to Predictive if one or more gold mines are discovered and developed.
Predictive team members will visit the Boconda North site to scope out the initial work program in October with fieldwork consisting of stream sediment sampling and geological mapping which will start in November-December.