Cote D’Ivoire – ASX-listed West African gold explorer Predictive Discovery (PDI) has signed an agreement with an Ivoirian company which sees PDI provide and/or arrange financing and exploration management on a granted exploration permit and a second permit which is under application in northern Cote D’Ivoire.
The agreement is subject to the second permit (Wendene) being granted by the Ivoirian government.
The Wendene permit application covers the large Bobosso gold mineralised system:
- High-grade and/or wide, shallow historical RC and diamond drill intercepts including:
- 5 m at 20.6 g/t gold from 48m;
- 7 m at 9.5 g/t gold from 26m;
- 32 m at 1.9g/t gold from 12 m;
- 35 m at 1.6g/t gold from 65 m; and
- 2 m at 29.2 g/t gold from 66 m
- 7 km² gold-in-soil anomaly covering with average value of 0.4 g/t gold
- Multiple mineralisation styles and lode positions extending over large area
- Historical database – 569 RC holes and 11 diamond drill holes
- Significant parts of 7 km² soil anomaly not tested by RC drilling, and numerous untested gold-in-soil anomalies along strike
- 800 km² ground position after Wendene is granted.
Paul Roberts, PDI’s MD says: “Subject to the grant of Wendene, Predictive sees Bobosso as an important new opportunity for the company and its shareholders. Historical drilling has intersected gold mineralisation over a large area, and there is significant potential to make new discoveries both on the fringes of the drilled area and along strike to the north and south.
“Primary gold mineralisation is present in numerous, variably orientated zones. Shallow, possibly alluvial or laterite-hosted gold zones, are also present, which may offer the opportunity for low cost, early gold production.
“While there is already a substantial drill database on Bobosso, we see good potential to identify more mineralisation and better ore continuity within drilled areas by orientating holes in a different direction to most of the historical drilling.
“Predictive has been actively seeking opportunities in Cote D’Ivoire since 2011. The country is politically stable and the economy is growing strongly. The Mining Act has been modernised and ground has become available to new entrants. Our increasing focus in this country is bearing fruit, firstly through the encouraging, recent exploration results generated by our JV partner, Toro Gold and now with this agreement on Bobosso.”
Predictive has been advised that the Wendene permit application has passed through the required internal government approval processes and awaits presentation to the Cote D’Ivoire Government’s Council of Ministers for grant. This is expected after completion of the current national election period.
Applications for Bassawa and Wendene were both made by an Ivoirian company, XMI SARL. XMI also holds another permit application, Niakaramandougou, which is located south-west of Predictive’s Ferkessedougou permit. The Bassawa permit was granted by decree n°2015-570 dated 29 July 2015. Bassawa and Wendene each cover an area of 400 km² . Niakaramandougou covers 399 km² .
Bobosso’s drilled area covers a major gold mineralised system with numerous separate zones of gold mineralisation, apparently with variable vein and/or mineralised shear orientations. While gold mineralisation continuity is not the same everywhere, in places, convincing continuity can be seen.
There are signs of recent artisanal mining activity but PDI is informed that government officials have recently been actively discouraging artisanal mining in this area. Predictive is informed that past explorer relationships with the local villagers were positive.
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