ASX-listed Predictive Discovery has been granted a new reconnaissance authorisation covering 100 km2 over the Kaninko project near the town of Kouroussa in Guinea’s Siguiri Basin.
Guinea – Predictive Discovery’s new tenement is located approximately 10 km from the Cassidy Gold Corp’s Kouroussa gold deposit.
With five projects covering 500 km2 of highly prospective landholdings, Predictive Discovery is currently undertaking multiple early-stage exploration programs across its portfolio of 100%-owned Guinea projects with encouraging initial results so far from its Kankan and Nonta projects.
Kaniko project at a glance
Using its trademarked Predictore system, the Kaninko area was highlighted by Predictive Discovery during its terrain-scale assessment of the Siguiri Basin in late 2018.
Company geologists will commence initial low-cost geological mapping and geochemical sampling of the artisanal sites shortly and follow-up with regional stream sediment sampling when water levels fall sufficiently for that to be possible.
Initial assay results are expected in the next 4-6 weeks, the company reports.
The reconnaissance authorisation contains at least one significant artisanal mine site consisting of extensive pitting into weathered bedrock over several hectares with shallow surficial workings in lateritic cover material extending for hundreds of metres away from the pitted area. Other artisanal sites are reported on the property but have yet to be examined.
In recent years, the Predictive Discovery has assembled a large portfolio of properties across the world-class Birimian greenstone belts of Cote D’Ivoire, Guinea and Burkina Faso.
Core to the Predictive strategy has been to maximise the probability of making multiple gold discoveries while minimising expenditure and the frequency of dilutive capital raisings. As part of this strategy, Predictive has entered into joint ventures with development-orientated partners on projects in Cote D’Ivoire and Burkina Faso.
The company holds significant minority interests (30-49%) in these projects with most exploration activity funded by partners. This approach has already yielded gold discoveries in Cote D’Ivoire and Burkina Faso, including the recently announced Ouarigue South discovery at Ferkessedougou North project.
Predictive Discovery is also in the early stages of exploring a series of 100%-owned projects in Guinea, which have produced encouraging gold geochemical anomalies at the Nonta and Kankan projects. The company notes that initial BLEG geochemical results from the Souloko property in Guinea were disappointing and the ground has been relinquished. This is a normal part of Predictive’s greenfields project screening process in West Africa.
Initial evaluations of target areas are conducted very cost-effectively, and areas are only retained when significant anomalies are generated – as at Kankan and Nonta, the company says.