Cote D’Ivoire

 

Locality map showing the Toro JV permits/applications (in brown), permits/applications covered by PDI’s agreement with XMI SARL and Progress Minerals Inc over the Bobosso Project (red), the wholly owned Ivoirian Resources SARL permit applications (in green) and the optioned Sika Resources permit applications (in magenta).

 

Predictive has expanded its ground position Cote D’Ivoire in recent years.  The country covers over a third of the highly prospective Birimian gold belt, more than any other country in West Africa. Cote D’Ivoire is highly underexplored for gold because the exploration investment boom in the last decade largely bypassed the country because of political instability.  Since the accession of President Alassane Ouattara in 2011 and his comfortable re-election in 2015, and with investment certainty provided by an updated Mining Act and a forward-looking Mines Administration, Cote D’Ivoire has become an attractive exploration investment destination.

 

In Cote D’Ivoire, Predictive has agreements with (1) Toro Gold Limited, a UK-based company and (2) West African Ventures Investment SARL (WAVI) SARL and Progress Minerals International (Inc) of Canada (Progress).  It has also entered into an option agreement with Sika Resources Pty Ltd on three permit applications held by Sika’s subsidiary, Moaye Resources SARL.

 

Toro Gold Joint Venture (Predictive 35%)

 

Predictive is in joint venture with Toro Gold Limited, a UK-based company, on seven granted permits and two permit applications in Cote D’Ivoire (see map).  The Toro Joint Venture operates through Predictive Discovery Limited’s former subsidiary, Predictive Cote D’Ivoire SARL (Predictive CI) of which Predictive now holds 35%.  Predictive is currently contributing 35% of ongoing expenditure by Predictive CI.

 

Boundiali

 

The Boundiali and Boundiali North permits are located within a very well mineralised greenstone belt which contains the large operating Tongon and Syama gold mines in Cote D’Ivoire and Mali respectively (see map).  The southern part of this belt has had little exploration to date and represents a first-class opportunity to make new large gold discoveries.

 

Predictive was granted the Boundiali permit in January 2014.  The Company’s first exploration program on the permit was a BLEG stream sediment survey (ASX release dated 4/8/14) which discovered a series of strong stream sediment anomalies, the best of which - a 24ppb Au value - lies downstream of the Nyangboue gold mineralised zone, which was first drilled in 2016.

 

RC and diamond drilling at Nyangboue has revealed a series of drill intercepts, the majority of which are located on a 1.2km long mineralised shear zone (see map) with best intercepts of:

  • NDC007: 30m at 8.3g/t Au from 39m includes 1.5m at 56.9g/t Au and 4.5m at 26.5g/t Au.
  • BRC003: 28m at 4.04g/t Au from 3m, including 1m at 49.7g/t Au.
  • BRC004: 20m at 1.97g/t Au from 0m.
  • BRC004: 14m at 5.51g/t Au from 32m, including 1m at 31.6g/t Au.
  • BRC004BIS (twin hole): 20m at 10.45g/t Au from 38m including 1m at 145.5g/t Au.
  • BRC006: 9m at 7.9 g/t Au from 99m including 1m at 44.7g/t Au.
  • BRC023: 7m at 3.8g/t Au from 33m.
  • BRC048: 28m at 1.55g/t Au from 1m including 1m at 27.4g/t Au.

Gold drill results, Nyangboue Prospect, Boundiali Permit, Cote D’Ivoire, showing RC and diamond drill intercepts superimposed on a background of gold soil geochemical contours on a satellite imagery background. Smaller labels refer to RC drill results and larger labels refer to diamond drill results (drill results reported to ASX on 23/6/16, 25/7/16, 8/8/16, 12/9/16, 13/10/16, 17/5/17 and 29/5/17).

 

Visible gold in quartz vein in diamond drill core from Nyangboue Prospect.

 

Boundiali North is located directly north of the Nyangboue gold discovery.  It covers 16 km of the interpreted north-trending structure which is inferred to control both the Nyangboue mineralisation and an arsenic-gold anomalous trend which extends southwards.  A portion of this permit was excised because of classified forest in that area (see aeromagnetic map).

 

Boundiali North is held by a local Cote D’Ivoire company, DS Resources SARL (DSR).  Predictive Discovery Cote D’Ivoire SARL has entered into an agreement with DSR to acquire up to 85% ownership of the permit by completion of a definitive feasibility study.  DSR may contribute its share of mine development costs or convert its interest into a net smelter return royalty at the rate of 1% of royalty for 10% of equity i.e. a maximum royalty of 1.5%.

 

Location of Boundiali & Boundiali North permits showing the Nyangboue structure and drilling locations on a regional aeromagnetic map.

 

Ferkessedougou North

 

This permit is located in northern Cote D’Ivoire directly adjacent to Burkina Faso’s southern border.  It is subject to an agreement between Predictive CI and local Ivoirian company, Gold Ivoire Minerals SARL. Several phases of soil sampling were carried out on the permit during 2016 and 2017 (ASX releases dated 1/2/17 and 28/4/17).  Anomalous gold values (>20ppb Au) were found in numerous locations throughout the grid over a 17km strike length. 

 

Geological mapping shows that foliation/shearing trends are NNE oriented.  Trenching and drilling indicate that most of the mineralisation discovered to date is hosted by metasediments and granitic rocks.  Dyke-like granitic bodies are an important host to gold mineralisation.

 

Drilling

 

A reconnaissance, shallow reverse circulation (RC) drilling program totalling 80 holes and 4,989m was carried out in February-March 2018, resulting in widespread encouraging drill results in a previously undrilled area. Better assay intercepts (reported to the ASX on 26/6/18) include:

  • FNRC016: 25m at 3.06g/t Au from 64m, including 13m at 5.35g/t Au (stopped in mineralisation, last 4m averaged 13.78g/t Au)
  • FNRC003: 4m at 1.20g/t Au from 25m,
  • FNRC068: 9m at 1.47g/t Au from 39m,
  • FNRC047: 2m at 5.44g/t Au from 45m,
  • FNRC001: 13m at 0.97g/t Au from 4m,

Better results showing large cumulative widths are shown on the following cross section:

Cross-section showing gold drill results and interpreted geology, Ferkessedougou North Project.

 

Drilling to date has tested only a very small portion of gold-in-soil geochemical anomalies which extend over 17km of strike and a width of 2-3km (see maps below). The potential to make a large gold discovery here is significant as the gold is associated with granodiorite dykes, many of which may be located within the gold anomalous zone. A geological interpretation (below) shows that many granodiorite dykes are interpreted from a recent aerial magnetic survey over the area, most of which have not yet been trenched or drilled.

 

Location of RC drill collars on gridded gold-in-soil geochemical results, Ferkessedougou North permit – red high, blue low (soil geochemical results reported to the ASX on 1/2/17 and 28/4/17).

 

Geological interpretation of Ferkessedougou North permit derived from recent airborne aeromagnetic survey. Note interpreted granitic dykes (magenta colour) and drill hole locations (black dots).

 

Kokoumbo and Beriaboukro

 

Predictive CI is earning a 90% interest in the Kokoumbo exploration permit in southern Cote D’Ivoire (see map) from an Ivoirian company, Ivoir Negoce SARL.  The Kokoumbo permit covers an area of historic artisanal and French colonial era mining located in a highly prospective belt of rocks which also includes the Bonikro gold mine, currently in production by Newcrest, and Agbaou gold mine, where Endeavour Mining commenced commercial production in January 2014.

 

Soil sampling has identified a series of impressive gold geochemical anomalies, most of which remain untested by drilling.  Diamond drilling at Kokoumbo in 2016 obtained a best intercept of 7.5m at 16g/t Au (ASX release dated 13/5/16). More drilling is planned.

Kokoumbo gold in soil geochemistry, showing location of high priority drill targets (results reported to ASX on 15/9/165, 10/11/15).

 

The Beriaboukro permit is located directly south of Kokoumbo, and is the subject of an agreement between Predictive CI and local Ivoirian company, Gold Ivoire Minerals SARL. Beriaboukro includes some impressive artisanal workings including the Takalaso site (pictured below).

 

 

High grade Takalaso gold vein artisanal mine site, Beriaboukro permit.

 

Bobosso Joint Venture

 

The Bobosso Project consists of two granted exploration permits, Bassawa and Wendene and the Dabakala permit application in northern Cote D’Ivoire , all of which are held by an Ivoirian company, XMI SARl (XMI).   These permits are located in the southern extension of the well mineralised Hounde Belt in Burkina Faso, which includes Semafo’s Mana Mine (5 Moz in ore resources and reserves).

 

Previous exploration by Equigold, Lihir and Newcrest including a series of large drilling programs totalling 569 RC holes and 11 diamond drill holes. This obtained many gold mineralised intercepts beneath a 7km2 gold-in-soil geochemical anomaly (see map below) indicating the presence of a large gold mineralised system. 

 

 

RC drill hole locations plotted on a map showing historical drilling superimposed on a gold-in-soil geochemistry gridded image (red “peaks” with higher gold values and green “flats” with low grades).

 

Earlier geological mapping and re-logging of historical diamond drill core by Predictive staff showed that gold mineralisation is hosted in a sequence of mafic volcanics, with lesser felsic to intermediate volcanics and minor metasediments. Gold mineralisation is found in both broad, moderate grade alteration zones (carbonate-silica-sericite-pyrite) and narrower, higher grade quartz veins. Most of the alteration zones are postulated to strike roughly ENE and dip steeply to the north but flat zones are also know to exist (e.g. Wendene Hill – see cross section below).

 

PDI entered the Bobosso project through an agreement which was signed in October 2015 with the owner of XMI, West Africa Venture Investment (WAVI). In 2017, both parties entered into a funding agreement with Progress Minerals Inc (Progress) through which Progress funded the two drilling programs to earn a 30% equity in the project. Predictive is now in the process of converting its position to a free carry by which it receives C$0.5 million in cash up front and payments in cash or shares based on reserve ounces following development of up to three mines on the Bobosso permits.

 

Drilling

 

5,901m of diamond and RC drilling been completed to date. The holes were mostly angled towards the SSE in keeping with the inferred ENE strike and north dip of the mineralised zones. The drilling has tested a series of targets and identified a series of individual zones each extending over strike lengths of 150-300m each and mostly open along strike and at depth.

 

Better drill results include:

Target 1:

  • BOBDD001: 16m at 1.32g/t Au from 0m
  • BOBDD004: 7.8m at 1.96g/t Au from 0m
  • BOBRC045: 21m at 1.59g/t Au from 61m
  • BOBRC049 : 21m at 1.04g/t Au including 5m at 2.61 g/t Au
  • BOBRC050: 18m at 2.05 g/t Au from 9m

 Target 4 :

  • BOBDD013 : 17m at 1.47g/t Au from 41m including 5.5m at 3.77g/t Au
  • BOBDD015 : 13.5m at 1.36g/t Au from 77m
  • BOBRC018 : 9m at 1.47g/t Au from 40m
  • BOBRC020 : 19m at 1.28g/t Au from 73m
  • BOBRC022 : 18m at 1.00g/t Au from 23m

 Wendene Hill Target :

  • BOBRC025 : 11m at 4.93g/t Au from 5m
  • BOBRC025 : 15m at 1.06g/t Au from 28m
  • BOBRC 027 : 7m at 2.00g/t Au from 83m

 BRC039 Target

  • BOBRC030 : 19m at 2.13g/t Au from 3m
  • BOBRC032 : 28m at 2.18g/t Au from 5m including 1m at 14.16g/t Au and 3m at 5.54g/t Au

 BRC135 Target:

  • BRC045: 21m at 1.59g/t Au from 61m

 BRC104 target:

  • BOBRC057: 56m at 1.56g/t Au from 47m includes 3m at 6.10g/t Au

 

Target 4 plan view showing results of recent RC drill program (yellow labels) along with historical results in black (reported to the ASX on 28/10/15) and 2017 diamond drill results with (collars labelled).  Note that deeper intercepts (e.g. in holes BOBRC020 and BOBDD014) are down-dip extensions of the shallower gold intercepts of the near surface gold anomalous zone (coloured in pink).

 

Wendene Hill Cross-section illustrating flat-dipping gold mineralised alteration. Gold anomalous altered volcanics (coloured in pink) contain values exceeding 0.1 g/t Au.

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