Aurora Minerals : PDI reports on progress at Boundiali Gold Project, Cote D'Ivoire - Tuesday, September 05, 2017

ASX Announcement 05 September 2017

Predictive Discovery Limited is a gold exploration company with strong technical capabilities focused on its advanced gold exploration projects in West Africa.

ASX: PDI

Issued Capital: 163 million shares

Share Price: 8.0 cents

Market Capitalisation:

$13.0M

Directors

Phillip Jackson

Non-Exec Chairman

Paul Roberts

Managing Director

David Kelly

Non-Executive Director

5th September 2017

Predictive Discovery Limited (ASX: PDI) is pleased to provide details on progress made on the Boundiali Project in Cote D'Ivoire, part of the Company's joint venture with Toro Gold Limited.

• Agreement reached with a local vendor on a 400km2 permit application north of the Boundiali permit, covering approximately 20km of the same structure which is inferred to control the Nyangboue gold mineralisation.

• Results reported from RC drill testing of two gold-in-soil anomalies, totalling 4.274m:

  • Numerous gold intercepts including:

    • 1m at 22.2g/t Au from 51m (Gbemou)
    • 1m at 9.48g/t Au from 5m (Nyangboue South)
    • 1m at 7.59g/t Au from 16m (Gbemou)

    • Multiple narrow gold intercepts in adjacent holes in southern part of Gbemou anomaly

Mr Paul Roberts, Predictive's Managing Director said: "The Toro Gold joint venture continues to make progress in the Boundiali area. Once granted, the new Boundiali permit will more than double the strike length of prospective structure in the joint venture permits - along strike to the north of the Nyangboue gold discovery (best intercepts of 30m at 8.3g/t Au and 20m at 10.5g/t Au). We expect that geochemical exploration of the Boundiali permit will commence soon after the permit is granted.

Results of the recent Nyangboue South and Gbemou RC drilling shows that gold

mineralisation is widespread through the permit."

Figure 1: Location of Boundiali & Boundiali North plus drilling on regional aeromagnetic map

The Boundiali permit is located within a very well mineralised greenstone belt which includes the large operating Tongon and Syama gold mines in Cote D'Ivoire and Mali respectively (Figure 2). The southern part of this belt has had little exploration to date and represents a first-class opportunity to make new large gold discoveries.

Predictive was granted the Boundiali permit in January 2014. The Company's first exploration program on the permit was a BLEG stream sediment survey (ASX release dated 4/8/14) which obtained a series of strong stream sediment anomalies, the best of which, a 24ppb Au anomaly, lies downstream of the Nyangboue gold mineralised zone intersected in the 2016 RC drilling program.

Figure 2: Locality map showing the location of Boundiali and Boundiali North permit application along with the other initial Toro JV permits (in brown), the GIV JV permits/permit applications (in blue), permits/applications covered by PDI's agreement with XMI SARL over the Bobosso Project (red), the more recent, wholly owned Ivoirian Resources SARL permit applications (in green) and optioned Sika Resources SARL permit applications (in magenta).

Predictive is in joint venture with Toro Gold Limited (Toro), a UK-based company, on six granted permits and three permit applications in Cote D'Ivoire, including Boundiali (Figure 2). The Toro Joint Venture operates through Predictive Discovery Limited's subsidiary, Predictive Cote D'Ivoire SARL (Predictive CI) of which Predictive now holds 35%. The Company is contributing to 35% of ongoing exploration expenditure.

This permit application is located directly north of the Nyangboue gold discovery (Figure 1). It covers the interpreted north-trending structure which is inferred to control the location of the Nyangboue mineralisation and the gold-in-soil anomalous trend which extends south from there to the Nyangboue South prospect1. Acquisition of this ground is a highly significant step forward for the joint venture as it doubles the amount of gold prospective strike held in the Boundiali area (Figure 2). Initial geochemical exploration is planned to commence soon after this permit is granted.

The permit application was made by a local Cote D'Ivoire company, DS Resources SARL (DSR). Predictive Discovery Cote D'Ivoire SARL has entered into an agreement with DSR to acquire up to 85% ownership of the permit by completion of a definitive feasibility study. DSR may contribute its share of mine development costs or convert its interest into a net smelter return royalty at the rate of 1% of royalty for 10% of equity i.e. a maximum royalty of 1.5%.

RC and diamond drilling on the Nyangboue Prospect in the past year has obtained a series of highly encouraging intercepts (announced to the ASX on 23/6/16, 25/7/16, 8/8/16, 12/9/16, 13/10/16 and 29/5/17) including:

• NDC007 - 30m at 8.3g/t Au from 39m includes 1.5m at 56.9g/t Au and 4.5m at 26.5g/t Au.

• BRC003 - 28m at 4.04g/t Au from 3m, including 1m at 49.7g/t Au.

• BRC004 - 20m at 1.97g/t Au from 0m.

• BRC004 - 14m at 5.51g/t Au from 32m, including 1m at 31.6g/t Au.

• BRC004BIS (twin hole) - 20m at 10.45g/t Au from 38m including 1m at 145.5g/t Au.

• BRC006 - 9m at 7.9 g/t Au from 99m including 1m at 44.7g/t Au.

• BRC023 - 7m at 3.8g/t Au from 33m including 1m at 11.3g/t Au.

• BRC048 - 28m at 1.55g/t Au from 1m including 1m at 27.4g/t Au.

• BRC010 - 30m at 0.92g/t Au from 14m including 2m at 7.68g/t Au.

1 A small percentage of the permit area may be excised to exclude classified forest. Discussions about this matter are continuing with the relevant government authorities.