AI assistant
PREDICTIVE DISCOVERY LIMITED — Regulatory Filings 2021
May 30, 2021
65537_rns_2021-05-30_ab2a0d47-23ac-4995-a04a-e6d3dfa63de4.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
ASX: PDI | 31 May 2021
6M @ 32G/T GOLD FROM FIRST DRILLING AT KOUNDIAN PROJECT, GUINEA
Predictive Discovery Limited (ASX: PDI, Predictive or the Company) is pleased to announce outstanding results from its first program of power auger drilling and rock chip sampling at its Koundian Project , 115km ENE of the Company’s flagship Bankan Project, and part of Predictive’s extensive Guinea landholdings (Fig. 2).
HIGHLIGHTS
-
Power auger drilling from the Koundian Project has returned shallow high-grade gold (Fig.1) along a corridor of interpreted NE orientated structures:
-
6m @ 32.0g/t Au from 4m (to EOH), incl. 4m @ 45.0g/t Au from 4m (KDNAU0473)
-
6m @ 9.8g/t Au from 4m (to EOH) (KDNAU0406)
-
6m @ 1.3g/t Au from 4m (to EOH) (KDNAU0546)
==> picture [479 x 276] intentionally omitted <==
Figure 1 – Koundian Project, location of holes KDNAU0406 and KDNAU0473 with auger drill grid, rock chip sampling results and regional deposits.
“By any measure this is an excellent start to exploration results from Koundian. The huge extent of mapped artisanal workings on the new ground shows that gold mineralisation covers a large area in a geological setting analogous to the nearby known gold deposits, with the Company well-funded to continue regional auger programs on its Siguiri Basin projects.” – commented MD Paul Roberts.
ASX: PDI | 31 May 2021
==> picture [519 x 309] intentionally omitted <==
Figure 2 – Predictive’s Guinea Portfolio with Koundian Project highlighted, 115km ENE of the Company’s flagship Bankan Project
Introduction
Koundian is strategically located along strike from the Managem Group’s 2Moz Tri-K gold deposits, with the project’s southern permit boundary just 7 km north of the northernmost 1.2Moz Koulekoun deposit (Fig. 1). It also lies 15km west of the Mandiana gold deposits and 75 km southeast of AngloGold’s (NYSE: AU) 10Moz Siguiri gold deposit (Fig. 2).
Acquisition rights to Koundian were obtained in April 2020[1] , adding significant exploration tenure to Predictive’s Siguiri Basin portfolio with current and historical results demonstrating the potential to uncover a significant gold deposit.
Results of a series of three reconnaissance exploration programs are reported in this release:
-
As part of the regional aeromagnetic survey program, the Company flew a 1,282 line-km geophysical survey at Koundian covering an area of approximately 128km[2] (Figs. 3-4).
-
A large power auger program was undertaken, testing targets defined by the aeromagnetic survey and geological mapping (Fig. 3).
-
Geological mapping and sampling were also carried out, with 530 rock samples collected across the permits (Fig. 3).
1 ASX Announcement - PREDICTIVE SECURES LARGE, WELL MINERALISED GROUND PACKAGE NEAR PLUS-2 MILLION OUNCE GOLD DEPOSITS IN GUINEA [7 April 2020]
ASX: PDI | 31 May 2021
==> picture [485 x 507] intentionally omitted <==
Figure 3 - Koundian Project, power auger and rock chip sample locations and mapped artisanal workings overlain on greyscale aeromagnetic image.
Power Auger Drill and Rock Chip Sampling Results
Results from 753 holes, totalling 8,012m, are reported in this release. The drilling was carried out on a 320m x 80m grid spacing. The auger drilling was designed to test structural targets revealed by the recent aeromagnetic survey plus some other areas of extensive artisanal gold workings.
The power auger drilling obtained several very high-grade intercepts, notably 6m @ 31.97g/t Au and 6m @ 9.77g/t Au .
ASX: PDI | 31 May 2021
4m composite auger drill samples were assayed by fire assay at SGS in Bamako (Mali). Detailed results and a complete explanation of the methods followed in drilling and assaying the reported holes are provided in Table 1.
The rock chip sampling program returned multiple +10g/t Au values and a peak result of 33.6g/t Au.
Both the power auger drilling and rock chip results confirm the presence of widespread high grade gold values on the project area.
Power auger drilling is a rapid and cost-effective exploration method for the collection of weathered bedrock samples below tracts of lateritic and transported cover. The method was applied very successfully on the Bankan Project and is now being used at Koundian because of the presence of similar, extensive lateritic cover over that area.
Aeromagnetic Survey
A helicopter-borne magnetic and radiometric survey was conducted by New Resolution Geophysics (NRG™) in February covering two of the four Koundian permits on a 100m-line spacing (Fig. 4).
The geophysical data was processed and an initial geological interpretation and target generation program has been carried out. A project-level aeromagnetic map is provided in Figure 4. Additional survey details are provided in Table 2.
Images of processed aeromagnetic data show structural features that may have controlled the localisation of the known gold mineralisation. Of particular note are a series of NE oriented features, the strongest pair of which form a corridor that includes the highest-grade power auger drill results recorded to date (Fig. 4)
ASX: PDI | 31 May 2021
==> picture [517 x 540] intentionally omitted <==
Figure 4 - Koundian Project, aeromagnetic image, highlighting strongest power auger and rock chip sample assays.
Background
The Koundian Project lies within the Birimian-age Siguiri Basin which contains widespread gold mineralisation and covers a highly prospective area with multiple gold mineralised sites and strong gold values suggesting a very favourable geological setting. With some artisanal sites extending
ASX: PDI | 31 May 2021
over several kilometres and containing very limited bedrock outcrop, there is excellent potential for the discovery of a new continuously mineralised gold system.
Previous exploration was completed by Drake Resources Ltd with two small Reverse Cycle (RC) drilling programs completed in 2014 and 2015 of which 24 holes (totalling 2,177m) were drilled within the permits.
Results from the 2014 drilling included[2] :
-
14TAMRC001: 4m at 19.80g/t Au from 50m
-
14TAMRC002: 7m at 2.10g/t Au from 59m
-
15TAMRC004: 2m at 7.00g/t Au from 44m
-
14KRFRC001: 10m at 1.33g/t Au from 36m
-
14KRFRC002: 14m at 1.69g/t Au from 55m
The power auger drilling program is now complete for the current field season. Once all results are received and subject to access during the upcoming rainy season, the Company will undertake closer spaced, low-cost auger drilling programs to more closely define the anomalous areas in preparation for deeper drilling later in the year.
-END-
Predictive advises that it is not aware of any new information or data that materially affects the exploration results contained in this announcement.
This announcement is authorised for release by Predictive Managing Director, Paul Roberts.
For further information please contact:
Paul Roberts Managing Director Tel: +61 402 857 249 Email: [email protected]
2 ASX Announcement - PREDICTIVE SECURES LARGE, WELL MINERALISED GROUND PACKAGE NEAR PLUS-2 MILLION OUNCE GOLD DEPOSITS IN GUINEA [7 April 2020]
ASX: PDI | 31 May 2021
COMPETENT PERSONS STATEMENT
The exploration results reported herein are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts is a full-time employee of the company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
TABLE 1 – POWER AUGER AND GEOCHEMICAL RESULTS – KOUNDIAN PROJECT
| Hole numbers | Northing (WGS84- 29N) |
Easting (WGS84 – 29N) |
RL | Hole dips |
Azimuth | Hole Depth | From | Interval | Au (g/t) |
|---|---|---|---|---|---|---|---|---|---|
| KDNAU0001 – 0753, 753 holes totalling 8,012m. |
Refer to Figures 1 and 3 for sample locations. |
Refer to Figures 1 and 3 for sample locations |
336 – 447 See notes |
All vertical | Not relevant to vertical holes |
The holes were 4-20m deep with an average depth of 11m. Some holes stopped short of the target depth due to wet samples at shallow depths or blade refusal |
Not relevant to the samples described in this report |
Not relevant to the samples described in this report |
See notes and Figures 1 and 3 for colour-coded composite gold value intervals |
| KDNAU0406 | 509849 | 1202720 | 416 | -90 | 0 | 10 | 4 | 6 | 9.77 Incl. 4m@ 14.6g/t from 4m |
| KDNAU0473 | 510492 | 1203037 | 424 | -90 | 0 | 10 | 4 | 6 | 31.97 Incl. 4m@ 45.0g/t from 4m |
| KDNAU0546 | 514490 | 1201763 | 377 | -90 | 0 | 10 | 4 | 6 | 1.29 |
| KDNAU0597 | 514010 | 1203039 | 381 | -90 | 0 | 10 | 4 | 6 | 0.54 Incl. 2m @ 1.41 g/t Au from 8m to eoh |
| Notes: Power auger drilling was carried out with a trailer mounted auger rig capable of drilling vertical holes up to 30m deep. The target depth on this drill program was 20m. Up to 5 samples were collected in 4m intervals and assayed for gold. The prepared drill samples were sent to the SGS laboratory in Bamako, Mali for pulverisation and fire assay gold analysis. Reported (colour coded) results are for a calculated length-weighted composite starting from a depth of 4m (the average thickness of the laterite – which is partly transported) to the end of each hole. The RL range for the power auger grid in the project areas are shown above in metres. Individual RLs are not reported in this announcement because they are not relevant to interpreting auger drill data of this type. |
|||||||||
| Surface Samples - Rocks | |||||||||
| A total of 530 rock samples are reported in this release. Significant rock assays greater than 2g/t Au reported below. All other sample locations are shown on attached figures. |
ASX: PDI | 31 May 2021
| SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit SampleID Northing (WGS84- 29N) Easting (WGS84 – 29N) RL Au g/t Permit PDG0011960 1203969 513084 396 14.00 SMK2 PDG0012129 1205210 510500 383 4.09 SMK1 PDG0011966 1203000 514060 382 2.73 SMK2 PDG0012134 1205320 510388 377 3.37 SMK1 PDG0011967 1203000 514060 382 3.13 SMK2 PDG0012144 1202205 511300 380 33.60 SMK2 PDG0011968 1203020 514080 382 6.99 SMK2 PDG0012263 1201670 514288 386 2.59 SMK2 PDG0011971 1202980 514000 382 29.10 SMK2 PDG0012266 1201670 513140 394 6.41 SMK2 PDG0011974 1202560 513980 389 3.20 SMK2 PDG0012267 1201700 512725 388 13.90 SMK2 PDG0011980 1202500 511180 398 2.08 SMK2 PDG0012281 1199500 508470 441 4.71 SMK1 PDG0011984 1202240 511000 403 11.50 SMK2 PDG0012310 1202720 513990 387 5.74 SMK2 PDG0011989 1209450 495660 400 6.62 MGC PDG0012443 1202906 510278 420 3.01 SMK1 PDG0012068 1199240 509960 398 2.92 SMK1 PDG0012445 1202903 510282 420 9.48 SMK1 PDG0012454 1204770 509530 395 12.10 SMK1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SampleID | Northing (WGS84- 29N) |
Easting (WGS84 – 29N) |
RL | Au g/t | Permit | SampleID | Northing (WGS84- 29N) |
Easting (WGS84 – 29N) |
RL | Au g/t | Permit | |
| PDG0011960 | 1203969 | 513084 | 396 | 14.00 | SMK2 | PDG0012129 | 1205210 | 510500 | 383 | 4.09 | SMK1 | |
| PDG0011966 | 1203000 | 514060 | 382 | 2.73 | SMK2 | PDG0012134 | 1205320 | 510388 | 377 | 3.37 | SMK1 | |
| PDG0011967 | 1203000 | 514060 | 382 | 3.13 | SMK2 | PDG0012144 | 1202205 | 511300 | 380 | 33.60 | SMK2 | |
| PDG0011968 | 1203020 | 514080 | 382 | 6.99 | SMK2 | PDG0012263 | 1201670 | 514288 | 386 | 2.59 | SMK2 | |
| PDG0011971 | 1202980 | 514000 | 382 | 29.10 | SMK2 | PDG0012266 | 1201670 | 513140 | 394 | 6.41 | SMK2 | |
| PDG0011974 | 1202560 | 513980 | 389 | 3.20 | SMK2 | PDG0012267 | 1201700 | 512725 | 388 | 13.90 | SMK2 | |
| PDG0011980 | 1202500 | 511180 | 398 | 2.08 | SMK2 | PDG0012281 | 1199500 | 508470 | 441 | 4.71 | SMK1 | |
| PDG0011984 | 1202240 | 511000 | 403 | 11.50 | SMK2 | PDG0012310 | 1202720 | 513990 | 387 | 5.74 | SMK2 | |
| PDG0011989 | 1209450 | 495660 | 400 | 6.62 | MGC | PDG0012443 | 1202906 | 510278 | 420 | 3.01 | SMK1 | |
| PDG0012068 | 1199240 | 509960 | 398 | 2.92 | SMK1 | PDG0012445 | 1202903 | 510282 | 420 | 9.48 | SMK1 | |
| PDG0012454 | 1204770 | 509530 | 395 | 12.10 | SMK1 |
Section 1: Sampling Techniques and Data
Criteria
JORC Code Explanation
Commentary
Sampling Technique Nature and quality of sampling (eg The sampling described in this report refers to power auger drill samples, as well cut channels, random chips, or as surface geochemical samples which includes trenching and rock sampling. specific specialised industry In all the power auger drill holes reported here, 2kg composite samples were standard measurement tools collected for every 4m downhole. The samples were submitted for fire assay gold appropriate to the minerals under analysis at the SGS laboratory in Bamako. investigation, such as downhole gamma sondes, or handheld XRF Individual reconnaissance rock chip samples were collected and were submitted instruments, etc). These examples for fire assay Au (FAA515) and multi-element Cu, Pb & Zn (ARE155) analysis at should not be taken as limiting the the SGS laboratory in Bamako. broad meaning of sampling Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. Drilling Drill type (eg core, reverse The power drilling was carried out using a trailer-mounted power auger rig. circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc).
ASX: PDI | 31 May 2021
|||ASX: PDI | 31 May|
|---|---|---|
|Drill Sample Recovery|Method of recording and
assessing core and chip sample
recoveries and results assessed.
Measures taken to maximise
sample recovery and ensure
representative nature of the
samples.
Whether a relationship exists
between sample recovery and
grade and whether sample bias
may have occurred due to
preferential loss/gain of
fine/coarse material.|Sample recovery is not assessed for power auger drilling as it is a geochemical
method. In general, however, recoveries are good because the hole has to be cleared
by the screw-type rods in order for the drill rods to advance downwards.|
|Logging|Whether core and chip samples
have been geologically and
geotechnical logged to a level of
detail to support appropriate
Mineral Resource estimation,
mining studies and metallurgical
studies.
Whether logging is
qualitative or quantitative
in nature. Core (or
costean/Trench, channel,
etc) photography.
The total length and percentage
of the relevant intersections
logged.|None of these samples will be used in a Mineral Resource estimation. Nonetheless,
all power auger holes, trenches and geochemical samples were geologically logged in
a qualitative fashion.|
|Sub-Sampling
Technique and
Sample Preparation|If core, whether cut or sawn and
whether quarter, half or all core
taken. If non-core, whether
riffled, tube sampled, rotary
split, etc and whether sampled
wet or dry.
For all sample types, the nature,
quality and appropriateness of the
sample preparation technique.
Quality control procedures
adopted for all sub-sampling
stages to maximise representivity
of samples.
Measures taken to ensure that the
sampling is representative of the in
situ material collected, including for
instance results for field
duplicate/second-half sampling.
Whether sample sizes are
appropriate to the grain size of the
materialbeing sampled.|Auger - each 4 m to 5 m interval in the composite interval was subsampled using
a scoop.
All samples are considered sufficiently representative of the drilled material in a
geochemical program.
Both company standards and blanks were included in the sample batches for
auger drilling at a ratio of 1:20, no field duplicates were collected.|
ASX: PDI | 31 May 2021
| Quality of Assay Data and Laboratory Tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
The analytical method used was a fire assay fire method with a 5ppb Au detection limit which is appropriate for a geochemical drilling program. Company standards and blanks were inserted in batches at a ratio of 1:20. The results of these QC check as well as the laboratory standards, blanks, duplicates and checks indicate the analytical results are suitable for a geochemical drilling program and indicate no bias. |
|---|---|---|
| Verification of Sampling and Assaying |
The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes The verification of significant intersections by either independent or alternative company personnel. Discuss any adjustment to assay data |
Hole twinning is not normally practised with power auger drilling. |
| Location of Data points |
Accuracy and quality of surveys used tolocate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used Quality and adequacy of topographic control |
Collar locations were located using a handheld GPS with a location error of +/-3m. All co-ordinates are recorded in Universal Transverse Mercator (UTM), Datum WGS 84, Zone 29 - Northern Hemisphere. |
| Data Spacing and Distribution |
Data spacing for reporting of Exploration Results Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied |
Power auger holes were located on a 320m x 80m grid. This type of drilling is not appropriate for the calculation of any Mineral Resource estimate. |
| Orientation of Data in Relation to Geological Structure |
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
Most of the reported power auger holes are located on east-west lines 80m to 320m apart based on regional geophysical trends. |
| Sample Security | The measures taken to ensure sample security |
Reference samples are stored at PDI’s sample store in Kouroussa, Guinea. |
| Section 2 Reporting of Exploration Results |
ASX: PDI | 31 May 2021
|||ASX: PDI | 31 May|
|---|---|---|
|Mineral Tenement
and Land Tenure
Status|Type, reference name/number,
location and ownership including
agreements or material issues
with third partiessuch asjoint
ventures, partnerships, overriding
royalties, native title interests,
historical sites, wilderness or
national park and environmental
settings.
The security of the tenure held at
the time of reporting along with
any known impediments to
obtaining a licence to operate in
the area.|The auger drilling was conducted over the Koundian JV Project which comprises 4
granted exploration and reconnaissance permits held by three companies Société
M.G.C Mineral Resources SARL (MGC), Société Minière de Koundian SARL (SMK1
& SMK2) and Société Gold Mining Exploration SARL (GME).
PDI through Kita Resources Pty Ltd (Kita) is currently earning 51% interest of the
JV companies (with right to earn 100%) through on ground expenditure and cash
payments over 7 years.|
|Exploration Done
by Other Parties|Acknowledgment and
appraisal of exploration by
other parties.|Geological mapping, geochemical sampling and limited drilling was conducted by
Drake Resources, as ASX-listed company (formerly ASX: DRK) in 2014-15. Results
of this work were reported by DRK at that time and also in PDI AX release dated 7
April 2020.|
|Geology|Deposit type, geological
setting and style of
mineralisation.|The permits lie within the Siguiri Basin in NE Guinea. The geology includes fine
grained metasedimentary rocks, mafic volcanics and intrusives, and possible
granitic rocks.|
|Drill Hole Information|A summary of all information
material to the understanding of
the exploration results including a
tabulation of the following
information for all Material drill
holes:
•
easting and northing of
the drill hole collar
•
elevation or RL (Reduced
Level – elevation above sea
level in metres) of the drill
hole collar
•
dip and azimuth of the hole
•
down hole length and
interception depth
•
hole length
•
If the exclusion of this
information is justified on
the basis that the
information is not Material
and
this exclusion does not
detract from the
understanding of the
report, the Competent
Person should clearly
explain why this is the
case.|The required information is provided in Table 1.|
|Data Aggregation
Methods|In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum
grade truncations (eg cutting of
high grades) and cut-off grades
are usually Material and should
be stated.
Where aggregate intercepts
incorporate short lengths of high
grade results and longer lengths of
low grade results, the procedure
used for such aggregation should
be stated and some typical
examples of such aggregations
should be shown in detail.
The assumptions used for any
reporting of metal equivalent
values should be clearlystated.|No weighted average or truncation methods were used for the power auger results.
No cut-off grade was applied in the average grade calculation.|
ASX: PDI | 31 May 2021
| Relationship Between Mineralisation Widths and Intercept Lengths |
Relationship Between Mineralisation Widths and Intercept Lengths |
These relationships are particularly important in the reporting of Exploration Results If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, truewidth not known’). |
True widths cannot be estimated for the power auger drill results as the orientation of the underlying weathered rocks is not known. |
True widths cannot be estimated for the power auger drill results as the orientation of the underlying weathered rocks is not known. |
|
|---|---|---|---|---|---|
| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
An appropriate map is provided in Figure 3. | |||
| Balanced Reporting | Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
All results are reported in Table 1. | |||
| Other Substantive Exploration Data |
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
All other exploration data on this area was reported by Drake Resources (ASX: DRK) in 2014-2015. |
|||
| Further Work | The nature and scale of planned further work (eg tests for lateral extensions or large scale step out drilling. Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is notcommercially sensitive. |
Planned work includes geological mapping, ongoing power auger drilling and follow up drilling as warranted. |
|||
| TABLE 2 - JORC CODE – AIRBORNE MAGNETIC AND RADIOMETRIC SURVEY | |||||
| Section 1: Sampling Techniques and Data | |||||
| Criteria | JORC Code Explanation | Commentary | |||
| Sampling Technique | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken aslimiting the broad meaning of sampling Include reference to measures taken to ensure sample representivity and t he appropriate calibration of any measurement tools or systems used. Asp ects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation maybe required,such as where |
Independent geophysical contractor New Resolution Geophysics (NRG™) completed heliborne geophysical surveys on the Koundian area in Guinea. Survey types included magnetic, radiometric and digital terrain/elevation data. Survey specifications are listed below: |
ASX: PDI | 31 May 2021
| there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
||
|---|---|---|
| Drilling | Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details ( eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so,bywhat method,etc). |
Not applicable to geophysical survey |
| Drill Sample Recovery |
Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representativ e nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
Not applicable to geophysical survey |
| Logging | Whether core and chip samples have been geologically and geotechnical logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and m etallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean/Trench, channel, etc) phot ography. The total length and percentage of the relevant intersections logged. |
Not applicable to geophysical survey |
| Sub- Sampling Techniq ue and Sample Pr eparation |
If core, whether cut or sawn and whether quarter, half or all core taken. If non- core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sampl e preparation technique. Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/seco nd-half sampling. Whether sample sizes are appropriate to thegrain size of the material beingsampled. |
Not applicable to geophysical survey |
ASX: PDI | 31 May 2021
| Quality of Assay Data and Lab oratory Tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make an d model, reading times, calibrations factors applied and their derivation, et c. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
Independent contractor NRG completed the geophysical surveys which involved the acquisition of airborne data at 100m line spacing flown at 090 degrees orientation from north to south, approximately perpendicular to the dominant structural trend. Nominal survey altitudes of 20-30m was flown A total of 3,384 line-km were completed at Koundian. The survey covered an area of approximately 128km2at Koundian Review of data can be summarised by: • Data was considered to be of high quality • No gaps “drop outs” were observed in the database fields • Filtering of raw data was minimal and close to final product Laboratory procedures and associated QAQC not applicable to geophysical survey. |
|---|---|---|
| Verification of Sa mpling and Assaying |
The verification of significant intersections by either independent or alte rnative company personnel. The use of twinned holes The verification of significant intersections by ei ther independent or alternative company personnel. Discuss any adjustm ent to assay data |
Not applicable to geophysical survey |
| Location of Data points |
Accuracy and quality of surveys used to locate drill holes (collar and down - hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used Quality and adequacy of topograp hic control |
Positional data was recorded in projection WGS84 UTM Zone 29N. The GPS was a Novatel 3151R. Heights were determined using a radar altimeter. Drillhole locations not applicable to geophysical survey |
| Data Spacing an d Distribution |
Data spacing for reporting of Exploration Results Whether the data spacing and distribution is sufficient to establish the degree of geological and grade co ntinuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied |
The acquisition of airborne data was at 100m line spacing flown at 090 degrees orientation from north to south, approximately perpendicular to the dominant structural trend. Geophysical survey data is not applicable for establishing a gold Mineral Resource and Ore Reserve Estimate. |
| Orientation of Data in Relation to Geolog ical Structure |
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considere d to have introduced a sampling bias, this should be assessed and reported if material. |
The acquisition of airborne data was at 100m line spacing flown at 090 degrees orientation from north to south, approximately perpendicular to the dominant structural trend. Given the variability of structural orientations in the survey area, the structures closest in orientation to north-south were imaged well whereas structures orientated closer to east-west were not as well mapped. Drill hole orientation not application togeophysical survey |
| Sample Security | The measures taken to ensure sample security | Not applicable to geophysical survey |
| Audits or Reviews | The results of any audits or reviews of sampling techniques and data | All digital geophysical data was subjected to rigorous auditing by the independent geophysical contractor NRG as well as by a PDI- appointed consultant geophysicist. |
| Section 2: Reporting of Exploration Results | ||
| Mineral Tenement and Land Tenure Status |
Type,reference name/number,location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests,historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any k nown impediments to obtaining a licence to operate in the area. |
The survey was conducted over two of the 4 permits that comprise the Koundian JV Project, SMK1 and SMK2 (see Table 1 section 2 for details) |
| Exploration Done by Other Part ies |
Acknowledgment and appraisal of exploration by other parties. |
See Table 1 section 2 for details |
| Geology | Deposit type, geological setting and style of mineralisation. |
See Table 1 section 2 for details |
| Drill Hole Information |
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: |
Not applicable to geophysical survey |
ASX: PDI | 31 May 2021
|||ASX: PDI | 31 May|
|---|---|---|
||•easting and northing of the drill hole collar
•
elevation or RL(Reduced Level–elevation above sea level in metr
es)of the drill hole collar
•dip and azimuth of the hole
•down hole length and interception depth
•hole length
•If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract
from the understanding of the report,the Competent Person
should clearly explain why this is the case.||
|Data Aggregation
Methods|In reporting Exploration Results,
weighting averaging techniques,maximum and/or minimum grade
truncations(eg cutting of high grades) and cut-
off grades are usually Material and should be stated.
Where aggregate intercepts incorporate
short lengths of high grade results and longer lengths of low grade results
, the
procedure used for such aggregation should be stated and some typical e
xamples of such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values should
be clearly stated.|Not applicable to geophysical survey|
|Relationship
Between Minerali
sation Widths and
Intercept Lengths|These relationships are particularly
important in the reporting of Exploration Results
If the geometry of the mineralisation with respect to
the drill hole angle is known,its nature should be reported. If it is not
known and only the down hole lengths are reported,there should be a
clear statement to
this effect (eg‘down hole length, true width not known’).|Not applicable to geophysical survey|
|Diagrams|Appropriate maps and sections(with
scales)and tabulations of intercepts
should be included for any significant discovery being reported These sh
ould include,but not be limited to a plan view
of drill hole collar locations and appropriate sectional views.|Appropriate maps are included in this release (Figs. 3-4)|
|Balanced Reporting|Where comprehensive reporting of all Exploration Results is not practic
able,
representative reporting of both low and high grades and/or widths sh
ould bepracticed to avoid misleadingreporting of Exploration Results.|Not applicable to geophysical survey.|
|Other Substantive
Exploration Data|Other exploration data,if meaningful
and material, should be reported including(but not
limited to):geological
observations; geophysical survey results; geochemical survey results; bul
k samples–size and method of treatment;metallurgical test results;
bulk density,groundwater,geotechnical and rock characteristics; potentia
l deleterious or contaminatingsubstances.|All other exploration data on this area has been reported previously
by PDI and Drake Resources Ltd. See Table 1 section 2 for details|
|Further Work|The nature and scale of planned further
work(eg tests for lateral extensions or large scale step out drilling.
Diagrams clearly highlighting the areas
of possible extensions, including the main geological interpretations and
future drilling areas, provided this information is not commercially
sensitive.|These results form part of an ongoing exploration program
conducted to explore the Koundian JV Project permits for gold
mineralisation. See Table 1 section 2 for details|