Predictive Discovery Ltd (ASX:PDI) has secured the right to acquire the highly mineralised Koundian Property Package, along strike from Managem’s 2-million-ounce Tri-K gold deposits, within Guinea’s prolific Siguiri Basin.
Koundian property package showing historical drilling results and mapped artisanal gold workings.
Predictive now holds about 799 square kilometres of prospective landholdings across nine permits/authorisations in Guinea, all containing artisanal gold workings.
All projects are within the Siguiri Basin which hosts AngloGold Ashanti Limited’s (JSE:ANG) large Siguiri Mine (+10 million ounces).
These project areas were identified by Predictive during its terrain-scale assessment of the Siguiri Basin in late 2018 using the company’s Predictore gold targeting system.
Predictive’s Guinea projects including the recently acquired Koundian property package.
Predictive managing director Paul Roberts said: “Following an extensive process of negotiation with local partners, the company is very pleased to have secured the right to acquire up to 100% of the Koundian property package, located within the Siguiri Basin.
“Koundian represents a rare and exciting opportunity in greenfields gold exploration - a strongly mineralised property in a highly prospective region with very extensive artisanal workings, limited past exploration and close to large known gold deposits.
“Acquisition of the Koundian Project is consistent with the company’s broader strategy of focusing on the Siguiri Basin in Guinea through a 100%-owned portfolio.”
High-grade gold confirmed in historical drilling
The Koundian Project lies within the Kinieran-Mandiana goldfield and covers a highly prospective area with multiple gold mineralised sites and strong gold values suggesting a very favourable geological setting.
Historical drilling completed by Drake Resources is believed to be the only drill program on the project - remarkable given its geological setting and proximity to large, drilled gold deposits.
High-grade gold confirmed in historical drilling and historical geochemical rock chip sampling include:
- 4 metres at 19.80g/t gold from 50 metres;
- 2 metres at 7.00g/t gold from 44 metres;
- 14 metres at 1.69g/t gold from 55 metres; and
- Rock chip results of up to 27.5g/t gold.
The huge extent of mapped artisanal workings on the new ground shows that gold mineralisation covers a large area in a geological setting analogous to the nearby known gold deposits.
Next steps
Initial components of Predictive’s planned work program at Koundian commencing this month will include:
- Mapping of regolith and outcrop geology over the entire project area.
- A focused program on a selected high priority area in the south-eastern permits, including:
- A ground magnetics survey using the company’s own magnetometers,
- Systematic rock chip sampling of artisanal workings, and
- A soil geochemical survey from which samples will be assayed for gold by an AAS gold method at the SGS laboratory in Bamako, Mali and tested for a broad range of minor and trace elements using the company’s hand-held XRF machine.
Predictive has also planned an aerial magnetic and radiometric survey for later in 2020.
Aircore drilling will be programmed once the results of the initial geological, geophysical and geochemical surveys are received and assessed.