History
Predictive Discovery Ltd ("PD") began its existence as a commercialisation outcome of the Predictive Mineral Discovery Cooperative Research Centre ("pmd*CRC"). The latter was established on 1 July 2001 after being successful in the competitive Cooperative Research Centre bid process in the previous year. The pmd*CRC was awarded $18 million in Commonwealth Government funds to be spent during its 7 year life. In addition, the pmd*CRC obtained over $80 million in cash and in-kind from core research partners and industry/government sponsors during that same 7 year period.
The pmd*CRC's purpose was to "to generate a fundamental shift in exploration practice and cost-effectiveness by developing a vastly improved understanding of mineralising processes and a four dimensional understanding of the evolution of the geology of mineralised terrains". To achieve this purpose its objectives were to:
- Resolve key areas of uncertainty in existing ore deposit models;
- Build 3D and 4D images of classical mineralised systems using the very latest advances in geophysics, geochemistry and geological understanding of these systems;
- Create a computational and modelling environment that enables the explorationist to rigorously explore ‘what-if’ questions relevant to the current exploration scenarios;
- Create a commercial computational and communications environment that enables explorationists to meaningfully use these concepts anywhere on Earth; and
- Transfer these concepts, skills and technologies to the next generation of explorationists in a manner which is clearly integrated with continuing advances in the Science of Predictive Mineral Discovery.
Most of these points are relevant to PD. Thus the Company is connected to these objectives as follows:
- PD employs an advanced understanding of hydrothermal ore deposit models based partly on the pmd*CRC's research;
- Via its contractual relationships, PD has privileged access to the computational and modelling environment which was developed by the pmd*CRC, and is known as the Desktop Modelling Toolkit.
- PD, an Australian-based Company, is pioneering the use of pmd*CRC-developed capability outside of Australia, and, where successful, will bring benefits back to Australia through dividends to Australian shareholders.
- PD is an exemplar company which aims to demonstrate the effectiveness of the CRC's approach to explorationists. Therefore PD's successes will encourage the next generation of explorationist use these new methods in Australia.
Since the cessation of the pmd*CRC at the end of its 7 year term on 30 June, 2008, PD has:
- Concluded agreements with the research participants in the pmd*CRC in order to obtain the necessary access to the computational modelling capability developed by the pmd*CRC
- Undertaken project generation activities in Burkina Faso and applied for two exploration permits.
- Obtained an Exploration Licence in Victoria and commenced geophysical exploration on it.
- Concluded a Joint Venture Agreement on a package of four permits in Eastern Burkina Faso with ElDore Mining Corporation Limited and commenced exploration on this ground. These permits lie in the same greenstone belt which hosts Semafo's Samira Hill Mine in Niger. PD's first 6100m RAB drilling program on this ground obtained 30 +1g/t Au intercepts, principally on the Fouli prospect where a 1.7km long gold anomalous zone which is open to the north-east has now been outlined
- Concluded Option Agreements on two more exploration permits which are continguous with the ElDore Mining Corporation tenement package with private interests in Burkkina Faso
- Concluded a Joint Venture Agreement with Lagoon Creek Resources Pty Ltd, the owner of the Westmoreland Uranium deposits in north-west Queensland, on two granted exploration licences located on a pastoral property in the Northern Territory.
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The Company