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Predictive Discovery Ltd.
Summary
| Project: | Boundiali | |
|---|---|---|
| Deposit: | Nyangboue | |
| Location: | Cote D'Ivoire | |
| Commodities: | Gold | |
| Date: | 5/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-5-2017: Predictive Discovery Ltd. announces an Exploration/Drilling Update report for its Nyangboue deposit at the Boundiali project. JV with Toro Gold Ltd. - drilling results incl. 90m @ 3.16g/t Au from 13.5m. Predictive Discovery Limited (ASX: PDI) i | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Paul Roberts (Internal) | |
| ABSTRACT: | Predictive Discovery Limited (ASX: PDI) is pleased to announce assay results from the five un-reported diamond drill holes at the Nyangboue prospect, Boundiali Project, one of the Company’s joint ventured exploration permits with Toro Gold Limited in Cote D’Ivoire. Mr Paul Roberts, Predictive’s Managing Director said: “These results confirm that this gold mineralised system can produce very impressive grades over substantial widths. We are now awaiting with great interest the outcomes of the current RC drilling program on the two, nearby gold-in-soil anomalies.” The Boundiali permit is located within a very well mineralised greenstone belt which includes the large operating Tongon and Syama gold mines in Cote D’Ivoire and Mali respectively (Figure 2). The southern part of this belt has had little exploration to date and represents a first-class opportunity to make new large gold discoveries. Predictive was granted the Boundiali permit in January 2014. The Company’s first exploration program on the permit was a BLEG stream sediment survey (ASX release dated 4/8/14) which obtained a series of strong stream sediment anomalies, the best of which, a 24ppb Au anomaly, lies downstream of the Nyangboue gold mineralised zone intersected in the 2016 RC drilling program. Predictive is in joint venture with Toro Gold Limited (Toro), a UK-based company, on six granted permits and two permit applications in Cote D’Ivoire, including Boundiali (Figure 2). The Toro Joint Venture operates through Predictive Discovery Limited’s subsidiary, Predictive Cote D’Ivoire SARL (Predictive CI) of which Predictive now holds 49%. Toro has been earning a further 14% of Predictive CI by spending US$2.5 million, to lift its equity to 65%. The Company has recently received formal notification from Toro that it has completed the required expenditure and has therefore earned 65%. Predictive will contribute 35% of the ongoing expenditure after completion of an audit of those expenses, which will take place this week. | |
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