Predictive Discovery

ASX: PDI

Bobosso

Free carried with project and mine production payments

Project Area
1200km²
Deal Type
Cash and mine development payments 
Current PDI Equity
0%

Permit

The Bobosso Project consists of two granted exploration permits, Bassawa and Wendene and one permit application, Dabakala, in northern Cote D’Ivoire located within the southern extension of the well mineralised Hounde Belt.

Predictive has recently converted its equity of the project to free carry.  Progress paid Predictive AUD$515,000 in cash and took ownership of the Company’s former equity.

Predictive will also receive payments on future mine development, including:

  • On the first development of a commercial mining operation on each of the three permit areas, Progress will pay US$4.30/ore reserve ounce of gold as defined in a bankable feasibility study.
  • Payments will be made in proportion to the ratio between Predictive and WAVI’s equities in the JV (respectively 43%:57%).
  • The first mine development will generate a minimum payment to Predictive and WAVI of US$2.15 million.
  • Up to three payments may be made i.e. one for each permit.

Previous Exploration Activity

2018

In October, Progress Minerals commenced a 7,500m RC drilling program, results can be viewed on the Progress Website – http://www.progressminerals.com/

2017

A partner funded RC drilling program totalling 45 holes and 4,244m, was completed on 21st December 2017. It was designed to explore six small areas within the large Bobosso gold mineralised system by testing extensions to gold mineralisation intersected in the earlier diamond drilling, best results include:

  • 56m @ 1.58g/t Au from 47m including 3m at 6.10g/t Au
  • 18m at 2.05g/t Au from 9m including 4m at 5.59g/t Au
  • 8m at 1.95g/t Au from 31m
  • 8m at 1.73g/t Au from 19m
  • 8m at 1.58g/t Au from 98m
  • 1m at 15.53g/t Au from 61m
  • 4m at 3.05g/t Au from 23m
  • 11m at 4.9g/t Au from 5m including 1m at 41.33g/t Au

  • 28m at 2.18g/t Au from 5m including 1m at 14.16g/t Au
  • 18m at 2.05 g/t Au from 9m including 4m at 5.59g/t Au
  • 19m at 1.28g/t Au from 73m
  • 19m at 2.13g/t Au from 3m
  • 21m at 1.59g/t Au from 61m
  • 1m at 15.53g/t Au from 61m
  • 19m at 1.00g/t Au from 23m

A diamond drill program totalling 1,657m with 17 holes drilled demonstrated good evidence of gold mineralisation continuity along east-west to eastnorth-east trending zones, consistent with Predictive’s geological model, best results included:

  • 8.7m at 3.3g/t Au from 39.6m including 1.2m at 14.3g/t Au
  • 17m at 1.47g/t Au from 41m including 2m at 6.95g/t Au
  • 28m at 1.00 g/t Au from 0m including 16m at 1.32g/t Au
  • 13.5m at 1.36g/t Au from 77m
  • 9.3m at 1.72g/t Au from 0m
  • 2m at 4.64g/t Au from 54m, including 1m at 7.63g/t Au

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