The acquisition includes three granted reconnaissance authorisations over 300 square kilometres in Guinea and three new 100%-owned exploration permits in Burkina Faso.
Predictive managing director Paul Roberts said the company was very excited to start exploration on large areas of the newly-acquired ground in West Africa.
The Burkina Faso tenements are all outside of Predictive’s existing joint venture tenements (PJV) with Progress Minerals International and comprise one granted permit and two for which fees have been paid.
In Burkina Faso, receipt of the invitation to pay fees on a permit application is a formal acknowledge that grant of the permits will follow.
The three granted reconnaissance authorisations in Guinea are in the well-mineralised Siguiri basin, close to Anglogold Ashanti's (ASX:AGG) plus-10-million-ounce Siguiri Gold Mine.
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Roberts said: “Picking up new ground is further evidence of the company’s prospect generator model being used to great effect and bolstered through our highly effective Predictore methodology which identifies highly-prospective gold targets.
“We are especially focused on picking up ground in our own right so that cash can be allocated to exploration rather than making the large payments commonly demanded by local partners.”
Using its Predictore technology, the company identified the Siguiri basin in Guinea as being both highly-prospective for gold mineralisation and underexplored.
The Siguiri basin is part of the richly-mineralised West African Birimian gold belt and consists largely of metasediments with minor granitic rocks, metavolcanics and mafic to ultramafic intrusives.
Low-cost field work has begun on the three reconnaissance tenements in Guinea including: bulk-leach-extractable-gold stream sediment geochemistry; rock chip sampling; and geological mapping to identify high-grade zones and geochemical targets for follow-up drill testing.
Work at the new Burkina Faso permits is expected to start in the March quarter of 2019 using similar low-cost methods as in Guinea.
Gold recovered by artisanal miners at the Nonta authorisation in Guinea
Roberts added: “Partner-funded drilling [is] underway at our joint ventures in Burkina Faso and Cote D’Ivoire.
“The company is well-positioned near-term to leverage its exposure to numerous highly-prospective projects in West Africa, increasing the odds of making a significant gold discovery and maximising shareholder return.”
Predictive’s strategic interest in the PJV represents 90 kilometres of gold-mineralised strike length and an existing JORC resource mineral estimate of 184,000 ounces at the Bongou deposit.
Progress Minerals can earn a 70% interest in all the PJV permits within the defined ‘area of influence’ by spending US$5 million on exploration and project evaluation.
Predictive’s aim is to advance the project as quickly as possible towards a scoping study on a multi-pit mining operation feeding a central mill.
Exploration work at the PJV includes 20,000 metres of reverse circulation drilling and a large power auger program.
New drilling results are expected in the next month from both Burkina Faso and Cote D’Ivoire.
The Toro joint venture in Cote D’Ivoire is currently undertaking infill soil sampling on the 14-kilometre-long Boundiali North gold-anomalous zone and an induced polarisation survey over the Ferkessedougou North prospect.