HomeExplorationPredictive Discovery expected to spend US$5 million on exploration in 2018

Predictive Discovery expected to spend US$5 million on exploration in 2018

Cote d’Ivoire – Focused on the exploration of gold in West Africa, Predictive Discovery expects substantial news-flow this year with a strong likelihood of good results from multiple locations.

The company has also been actively working on potential new ground acquisitions, which will allow the company to undertake early stage exploration in a number of highly prospective, new areas in 2018.

Recently, Predictive Discovery announced the initial assay results from RC drilling on the Bobosso project in Cote D’Ivoire, the joint venture with Progress Minerals and West African Ventures Investment (WAVI).

These first results include a number of good width intercepts from four prospects.

To date, via this RC program and last year’s diamond drilling, the company has identified five separate prospects within the confines of the 7 km2 Bobosso soil geochemical anomaly, each with significant shallow gold intercepts and good indications of gold mineralisation continuity.

At the same time, the company is benefiting from Progress Minerals’ funding of Bobosso, allowing the company to pursue new opportunities elsewhere.

In addition, in the weeks before Christmas, the company also announced commencement of a 5 000 m trenching programme through the Toro JV in Cote d’Ivoire and a major power auger drilling programme in Burkina Faso through its second joint venture with Progress Minerals.

At the same time, the company finalised an oversubscribed A$3 million capital raising, which will enable the company to fund early stage work on new areas in its own right.

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