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Predictive Discovery Ltd takes aim at large gold anomaly in Cote D'Ivoire

Predictive Discovery Ltd (ASX:PDI) has identified a 4+ kilometre long, 20 parts per billion, gold-in-soil anomaly at its Ferkessedougou project in Cote D'Ivoire.

The anomaly includes a continuous 2 kilometre long zone with 50 parts per billion gold grades.

Higher grades from the soil sampling included, 0.90 g/t, 0.70 g/t and 0.61 g/t gold (1 g/t = 1000 parts per billion).

Predictive has equity in the project through its joint venture with Toro Gold Limited (Toro).

Drilling will be considered once the drill results from Kokoumbo and Boundiali have been received and assessed.

Paul Roberts, managing director, commented: "These new results confirm yet another promising gold anomaly in our Cote D'Ivoire exploration portfolio.

"Toro's infill soil sampling has confirmed that Ferkessedougou is our fourth important project in Cote D'Ivoire along with Kokoumbo, Boundiali and Bobosso."

Cote D'Ivoire projects

Predictive is in joint venture with Toro, a UK-based company, on eight permits in Cote D'Ivoire and with XMI SARL, an Ivoirian company, on two additional permits.

This gives Predictive interests in exploration ground covering nearly 4,000 square kilometres.

Toro has earned 51% equity in the joint venture (Predictive: 49%) through exploration payments.

Predictive plans to decrease its equity further to 35% through the expenditure of an additional US$2.5 million by Toro.

Predictive is currently in the process of earning 35% equity under the XMI SARL agreement by funding a series of relatively low cost work programs.

Analysis

The Predictive share price has been on a recent run trading at circa $0.008, up circa 130% year to date.

Predictive's strategy to operate in joint ventures keeps its cash expenditure low while still giving it exposure to sizeable discoveries on multiple projects.

A good example of this is the current soil sampling work which was completed by Predictive's joint venture partner, Toro.

The first batch of drill results from a recently completed 15 hole diamond drill program at Kokoumbo are expected in early May.

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