Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Predictive Discovery has announced high-grade gold results from a diamond drilling program at the Ferkessedougou North Gold Project.
  • Several intercepts higher than one gram per tonne gold were discovered, including 45.3m at 3.16g/t gold from 45.9m, including 9m at 10.31g/t gold
  • The Predictive/Toro joint venture will now focus on finding other prospects with similar mineralisation
  • Predictive Discovery shares are up 200 per cent. Aurora Minerals, who holds a 21.9 per cent shareholding in Predictive Discovery, saw shares jump 90 per cent

Predictive Discovery shares jumped a massive 200 per cent this morning after the company announced significant high-grade gold results. The recent results come from a recent diamond drilling (DD) program at the Ferkessedougou North Gold Project in Cote D’ivoire, which it owns in a joint venture with Toro Gold.

Nine holes were drilled for roughly 1059 metres at the Ouarigue South prospect with encouraging results from a 100 metre wide and 210 metre long body, which is open to the south and at depth.

Results from eight of the nine holes show several intercepts higher than one gram per tonne gold, include 45.3m at 3.16g/t gold from 45.9m, including 9m at 10.31g/t gold.

Aurora Minerals holds a 21.9 per cent shareholding in Predictive Discovery.

Predictive Discovery Managing Director Paul Roberts said the results suggest overall gold grades in the area are higher 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,” Paul said.

“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,” he said.

“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,” he said.

The next step for the Predictive/Toro joint venture is to find areas with a similar style of mineralisation to the Ouarigue South prospect in the Ferkessedougou North area before beginning another large drilling program.

The rainy season begins soon in Cote D’ivioure, and following this the joint venture plans to repeat the process that discovered the Ouarigue South prospect in different areas across Ferkessedougou to discover similar prospects. This process will include soil sampling and extensive trenching programs.

At as 11:47am AEST, Predictive Discovery shares are trading at $0.027 a piece, up $0.018 from yesterday’s close. Predictive Discovery has a market cap of $7.97 million.

Aurora Minerals also saw a 90 per cent leaps following the announcement, with Aurora shares now trading at $0.021 per share.

ARM by the numbers
More From The Market Herald
Emeco (ASX:EHL) - CEO & Managing Director, Ian Testrow

" Emeco (ASX:EHL) recaps a solid FY22 performance with growth across all segments

Mining equipment solutions provider Emeco (ASX:EHL) increases revenue by 22 per cent to $754 million for…
XTEK (ASX:XTE) - CEO, Scott Basham

" XTEK’s (ASX:XTE) HighCom receives $2.7m US Government order

XTEK's (ASX:XTE) HighCom Armor Solutions business has received a $2.7 million order from a US Federal…
Openpay (ASX:OPY) - CEO, Dion Appel

" Openpay (ASX:OPY) raises $5.86m to support ANZ strategy

Buy now pay later group Openpay (ASX:OPY) has completed its share purchase plan (SPP), raising $5.863…

" Titomic (ASX:TTT) establishes presence in mining and reseller industries with Brauntell order

Titomic (ASX:TTT) receives a stock order from Brauntell, marking the company's first step into the mining…