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Predictive Discovery Ltd: Toro Gold Drilling In The Cote D'Ivoire

Predictive Discovery Ltd (ASX:PDI) and UK-based Toro Gold Ltd have started drilling at the Kokoumbo permit in the Cote D'Ivoire following discovery of gold mineralisation in December 2015.

Chip-channel samples taken across exposed shears demonstrated that gold mineralisation occurs across significant widths.

The Kokoumbo permit is located some 40-50 kilometres from Newcrest Mining's (ASX:NCM) Bonikro gold mine and Endeavour's Agbaou gold mine within the Oume-Fetekro greenstone belt.

In December 2015, chip-channel sampling by privately owned Toro Gold in the Kokoumbo Hill prospect returned:

- 44 metres at 3.8g/t gold including 2 metres at 25.7g/t gold, and 26 metres at 2.9g/t gold.

Recent large scale artisanal mining has exposed large areas of bedrock. Discussions with artisanal miners suggest that much of it is auriferous.

The company said that conversations with some of them suggest that a significant proportion of the material they have removed is gold-bearing.

While the orientation, width and bulk grade of the gold-bearing zones is not yet clear, the scale of the exposures and the results of the chip-channel samples suggest that broad gold mineralised widths may be present.

Diamond drilling will target the gold mineralisation encountered in the channels.

First drill results are expected in late April.

Paul Roberts, Predictive's managing director said: "Large areas of exposure generated by artisanal miners in the past year suggest that a substantial mineralised system could be present.

"With RC drilling planned for the northern Boundiali permit in April, we can expect significant newsflow from two drill programs in the coming months.

"Drilling is now underway in the Toro Gold JV, less than 12 months after the full JV Agreement was signed. Toro's recent work has demonstrated that there is a new style of mineralisation on Kokoumbo Hill with significant gold grades in the near surface, which is untested by previous drilling."

Exploration

The drilling is being carried out using a man-portable rig which can be placed at drill sites on the flank of Kokoumbo Hill without requiring bulldozer access. First drill results are expected in 4-6 weeks.

Toro's mapping of the exposed area has identified outcrops of a quartz-bearing diorite/granodiorite which appears to contain better gold grades than the adjacent mafic rocks in chip-channel sampling.

Similar intrusive felsic rocks are known to be associated with gold mineralisation elsewhere in this greenstone belt at the Bonikro and Agbaou Mines, where bulk mineable gold mineralisation is currently being extracted.

JV Details

Predictive is in a Joint Venture with Toro Gold Limited (Toro), a UK-based company, on four permits in Cote D'Ivoire.

Toro can earn a 51% interest in Predictive Discovery's Cote D'Ivoire SARL (Predictive CI), which holds Predictive's interest in the four permits, by spending US$1 million on exploration and option payments.

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