Predictive Discovery’s Limited [ASX:PDI] shares are trading at $0.22, a jump of almost 5% in today’s market.
The gold exploration company is listed in Australia, but drills in West Africa. Their primary areas of activity are Burkina Faso and Cote D’Ivore.
Why the rise in share price?
The price increase may be helped by PDI’s drilling program results. All fire assay re-analyses were received from drilling of the new Ferkessedougou North gold discovery. Which is part of their Toro Venture in Cote D’Ivoire.
The drill testing findings pointed to gold values from fire assays being generally higher than the bottle roll values. With the first drill section confirming broad gold mineralisation intercepts.
Predictive’s Managing Director Paul Roberts said:
‘With these results, Ferkessedogou North is assuming increasing importance in our growing group of west African Prospects with excellent drilling results.
‘We have old drill tested a very small proportion of the gold-in-soil geochemical anomaly, which is 17km long and serval kilometres wide… This is clearly a large scale target, potentially with numerous gold mineralised bodies.’
What’s next for Predictive Discovery?
The first drill program on Ferkessedogou North has only scratched the surface in its potential for gold ore discovery.
The company’s mission is to discover gold ore resources exceeding 2 million ounces, which could be profitably mined in a stand-alone operation.
If results like this continue this continue, that prospect looks promising. So look forward to more drilling after the rainy season.
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PS: Not convinced about Predictive Discovery? Well there are definitely mining stocks out there worth the investment. Discover resource analyst Jason Stevenson’s the top 10 mining stocks for 2018 in his free research report, here.