Why Predictive Discovery Ltd Share Price is Up Today (ASX:PDI)
The Predictive Discovery Ltd [ASX:PDI] share price is up today by 1.3%. At time of writing, shares are trading at $0.078, after reaching a $0.083 high today.
Predictive Discovery is an ASX listed company exploring for gold in West Africa.
Why did Predictive shares move today?
The company announced they’ve received an exploration permit for their Saman project, located in Guinea’s Siguiri Basin.
The company previously held Saman through a reconnaissance authorisation, which only allowed for reconnaissance activities like geological mapping. The new permit allows Predictive to conduct exploration activities for an initial period of three years, and that period can be extended to up to seven years in total.
Saman is right next to Predictive’s Kaninko project, as you can see below, which the company was granted last July.
Source: Predictive Discovery
Predictive suspects Saman could be holding a possible northern extension to the northernmost mineralised power auger hole in the NE Bankan gold mineralised zone, which yielded 16m at 6.82 grams per tonne gold.
It’s something Predictive’s Managing Director Paul Roberts mentioned in May this year, after announcing Kaninko’s drilling results. He said:
‘We are very pleased with these results which have now doubled the known mineralised strike length at NE Bankan from the 0.5km strike length that was initially recognised, to nearly 1km and remaining open. The identification of high-grade gold mineralisation on the most northern drill line also suggests that a possible new high-grade gold zone may extend even further to the north.’
What could happen next?
The company revealed they’ve finished a 65-hole power auger drilling program, with the objective to explore strike extensions of the NE Bankan discovery within the Saman permit. They are planning more power auger drilling in Saman next week too.
So far, Predictive’s share price has increased by over 900% this year.
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