Predictive Discovery Limited (ASX: PDI) explores for gold in Burkina Faso in Africa, and uranium in Australia. The Company operates in the Fada N'Gourma and Manga-Sebba greenstone belts in Burkina Faso, and in Northern Territory, Australia.
The company has via a recent ASX release stated that it had completed the results of the 2000 m diamond drilling (DD) program at the Kokoumbo project which is situated in the Cote D'Ivoire. The DD program which was managed by the joint venture partner Toro gold limited was testing geophysical targets and the lately excavated artisanal gold workings.
The subject site of Kokoumbo is located at 45 Km north of the Newcrest’s Bonikro gold mine and the Agbaou mine. This area is considered to be one of the highly mineralized areas in the Toro JV portfolios.
The best intercepts which were found at the proposed site included:
• The hole KOD017 which was drilled at the 4.5 metres witnessed mineralization of 4.22 g/t Au from the 57 metres, which included drilling of 1 metre at 11.15 g/t Au.
• The hole KOD026 which was drilled at the 9 metres witnessed mineralization of 2.08 g/t Au from the 69 metres.
The gold intercepts were found in almost all the drill holes. The previous drilling recorded an intercept of the 7.5 metres witnessed mineralization of 16.05 g/t Au from 0 metres.
The managing director of the company Mr. Paul Roberts said that the Kokoumbo and the neighbouring subject areas cover the large area that has the prospects of numerous gold workings and mineralization. The mentioned drilling was done post an exhaustive IP survey. These surveys indicated that there are strong east-southeast trending zones of chargeability which are coincident with the highly anomalous soil geochemical values. The company finds these results to be very encouraging and is focussed upon the discovery of the best-mineralized areas in the vicinity.
The joint venture is now again refocussed upon the Boundiali, and the Ferkessedougou permits in the Cote D'Ivoire. The exploration of both the permits has provided with a very encouraging start. These encouraging results are substantiated by an excellent drilling result and a potential of very large discovery beneath the broad gold geochemical anomalies in both the areas. The venture is finalizing its exploration programs for both the permits & will reveal the same in the coming few weeks.
The TORO joint venture between the parties took to the 15-hole, 2000 metres diamond drilling program from the month of mid-august till the end of the September. This program was actually designed for the purpose of finding the IP anomalies and the newly excavated artisanal working on the permit.
Meanwhile, the share price of the company has fallen by 36.36 percent in the past six months as on 21 December 2018. PDI’s shares traded at $0.014 with a market capitalization of circa $3.31 Million as on 24 December 2018 (AEST 02:21 PM).