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Predictive Discovery shares surge 211% following significant gold hits at Ferkessedougou North

The company’s shares are trading at 2.8 cents intra-day, an increase of about 211% from the previous closing price of 0.9 cents.

pyrite veining
Gold values are associated with pyrite veining

Predictive Discovery Ltd (ASX:PDI) has confirmed a significant new gold discovery from its recently completed diamond drilling (DD) program at the Ferkessedougou North Project in Cote D’Ivoire.

Importantly, the results have exceeded Predictive’s expectations with thick gold intercepts and high-grade intervals in a body that is up to 100 metres wide and at least 210 metres long, open to the south and at depth.

Diamond drilling results

The diamond drilling program was designed to explore the shape and grade distribution of the Ouarigue South gold mineralised body, which was initially encountered in reconnaissance drilling and trenching programs.

To date, a total of 7,107 metres of trenching, 80 revere circulation (RC) holes for 4,989 metres and nine DD holes for 1,059 metres have been completed on the Ferkessedougou North Project.

Results are still awaited from the last DD hole, FNDC009, which was drilled 220 metres northeast of the mapped gold mineralised granite.

Drill locality plan showing plan view locations of DD and RC gold drill intercepts

These results form part of the 2019 Toro Joint Venture Cote D’Ivoire exploration program which is focused on the Ferkessedougou North and Boundiali Projects.

Predictive has interests in about 5,000 square kilometres of prospective landholdings across the world-class Birimian greenstone belts of Cote D’Ivoire.

Predictive managing director Paul Roberts said: “These results are a significant improvement on the initial reconnaissance RC results at Ouarigue South and suggest that overall gold grades are higher at depth i.e. below the near-surface weathered zone.

“Deeper drilling along strike to the south may therefore produce higher grades than the initial, shallow RC holes.

“Also, most of the mineralised body contains reportable gold grades, which bodes well both for ore continuity and tonnage potential.

“The Predictive/Toro joint venture’s decision to narrow its focus to the Boundiali and Ferkessedougou North Projects is paying impressive dividends with drilling and trenching programs across both projects producing a stream of encouraging results (e.g. Nyangboue drilling announcement - 27/5/19).

READ: Predictive Discovery drills 27 metres at 2.42 g/t gold at Nyangboue

“In both cases, we have made significant initial gold discoveries in permits with excellent potential to find more gold mineralisation at multiple locations nearby.

“We expect to see additional significant news flow from the Toro JV in the coming months, along with results from our active Guinea exploration programs (100% PDI).”

Ferkessedougou North – next steps

With the DD-confirmed discovery of Ouarigue South, the joint venture’s objective is to find more gold-mineralised bodies of this type to attain a target resource inventory of 1-2 million ounces (or more).

To this end, the immediate work focus will be on finding more of this style of mineralisation, prior to carrying out the next large drill program.

Following the rainy reason, starting shortly, field work will focus on identifying more sub-cropping Ouarigue South-style gold mineralised bodies.

The first step will be close spaced soil sampling followed quickly by an extensive trenching program following up all promising anomalies.

This is a repetition of the simple but successful approach that discovered Ouarigue South and will be followed up by drilling the promising new targets.

Quick facts: Predictive Discovery Ltd

Price: 0.009 AUD

ASX:PDI
Market: ASX
Market Cap: $3.31 m
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Predictive Discovery expands exploration after recent gold discovery in Cote...

Predictive Discovery Ltd (ASX:PDI) managing director Paul Roberts speaks to Proactive Investors about expanding exploration at the Ferkessedougou Gold Project in Cote d’Ivoire, West Africa, after recently discovering new mineralisation. He says from a very small footprint, the company is...

on 31/7/19

3 min read