Predictive Discovery Ltd [ASX:PDI] is up a whopping 1000% since last week after announcing a new gold discovery in Guinea. At time of writing the PDI share price is trading at $0.068, up from $0.006 last week.
Predictive Discovery is an ASX-listed company looking to find large gold deposits across West Africa.
What did Predictive find?
The company released the results for their drilling program on the North-East Bankan prospect, on the Kaninko Gold Project. Predictive Discovery owns 100% of this project, which is located in Guinea.
The company holds around 800 km squared of prospective landholdings in Guinea across nine exploration permits or authorisations.
The results from their 24-hole aircore and reverse circulation program showed the presence of a very broad north-trending zone with some high-grade gold intercepts, which is at least 450m long and open in all directions.
All holes were drilled to a maximum downhole depth of 50 m with 23 out of the 24 holes holding reportable gold intercepts.
Some highlights of the results include 46m at 6.58 grams per tonne gold from 4m including 10m at 26.52 g/t gold from 34m. Also, 42m at 2.92 g/t from 8m and 50m at 1.53 g/t gold from surface including 20m at 2.51g/t gold from 30m.
Managing Director Paul Roberts said the following on the results:
‘With this initial shallow program, we have confirmed the presence of the broad mineralised widths suggested by the earlier power auger drilling along with some impressively high gold grades.
‘Many of the holes either started or stopped in gold mineralisation, which is therefore open both at depth and to the east and west on most drill lines. The mineralisation is also open to the north and south so there is plenty of scope to grow this further with more drilling.’
What could happen next?
Predictive got the Kaninko project July last year. The company credits the property transformation to their ‘rapid, targeted low-cost exploration’ strategy.
The company is now waiting on the results of 23 holes from the Bankan Creek Prospect, which is located 3km south west from this discovery.
While gold prices are going higher, it’s not easy to know which explorers will hit gold…literally. It’s why The Rum Rebellion’s editor Greg Canavan has prepared a ‘How to Pick Winning Gold Stocks’ guide for you.