Predictive Discovery (ASX:PDI) has announced more drill results from its Bongou gold prospect in Burkina Faso. Hole 5 seems to be very interesting as it intercepted 52 meters (true width) of 3.2g/t gold which included an intercept of 10.2g/t over 6 meters (also true width). Drill hole number 6 also intersected gold, and even though the intercept of 3 meters at 1.4g/t doesn’t get anybody excited, this is an important find, as it means there’s mineralized granite present at depth below earlier drilled holes which didn’t intersect any significant mineralization.
The company is planning a follow-up drill program to further test the prospect at depth and along strike. As Predictive had A$1.8M in cash and an enterprise value of just A$2.5M, this discovery could catapult the share price much higher if the company is able to increase the mineralized area.
> Click here to read the press release
Disclosure: The author holds no position in Predictive Discovery. Please see our disclaimer for current positions.
