Predictive Discovery Ltd has been granted a trading halt by the ASX with news of a proposed capital raising and project acquisition pending.
The halt will be in place until the beginning of regular trading on Wednesday, April 8, or when an announcement is released to the market, whichever occurs earliest.
Exploration at Guinea projects
Predictive recently announced that a combined aircore (AC) and reverse circulation (RC) drilling program totalling 2,700 metres is underway at its 100%-owned Kaninko and Kankan Gold Projects in Guinea, Africa.
A combined AC/RC drill rig has commenced work at Kaninko with drilling expected to be finished in around one week with the rig to then move over to Kankan.
Both projects have seen a series of exploration programs completed in the last six months with significant gold mineralisation and drill targets identified.
During January and February, the company completed 3,178 metres of shallow power auger drilling and 490 metres of trenching at Kaninko, with better results including 11.90 g/t gold from bottom-of-hole power auger sampling at the North-East Bankan Prospect and 18 metres at 1.60 g/t from trenching at the Bankan Creek Prospect.