Home' Australian Resources and Investment : March 2010 Contents AUSTRALIAN RESOURCES & INVESTMENT • MARCH 2010 • 35
Mt Hagen is the third largest city in PNG possessing good road
networks and infrastructure required for the project.
“Marengo Mining, Highlands pacific and Xstrata Copper operate in
the region and possess world class deposits”
Only minor exploration has been undertaken in the past with PNR
continuing to assess the historical data on the project. The PNG
Department of Mineral Resources completed an aeromagnetic survey of
the region showing areas
Through the use of geologists and specialists currently working for
PNR, an initial work program has been established for Mt Hagen. The
team will commence a surface geochemical sampling program involving
rock chip and stream sediment sampling. A more detailed geological
mapping and analysis of creeks, rivers and road exposures will also be
performed. Results are expected in the first half 2010.
PNR is confident current work will result in further enhancement of
known copper, gold and molybdenum occurrences and possibly generate
new targets. This permit has the potential for discovery of large
tonnage porphyry copper–gold deposit or a structurally controlled
epithermal gold and base metal deposit.
“Exploration to begin immediately with results due out in the near
The areas of interest are located in the North West region of Burkina
Faso in Western Africa. Burkina Faso is surrounded by six countries;
Mali, Niger, Benin, Togo, Ghana and Cote d’Ivoire.
The four tenements totalling 798km2 where previous drillings have
found significant intercepts are Fouli, Tantiabongou, Sirba and
ElDore in 2008 acquired Knights Landing Ltd and Birrimian Pty Ltd
for these four permits.
The company recently entered into an agreement with Predictive
Discovery Pty Ltd (PD) where PD has the ability to earn up to a 60%
interest in the projects through spending up to $2m. PD is a highly
regarded mining company with in-depth experience in the West Africa
region. Exploration is expected to begin immediately with first results
due in the first quarter 2010.
“Large area of ground secured with drilling results due in the first
OTHERS IN THE AREA
A number of other mining companies are currently operating in Burkina
Faso, some of which have discovered world class deposits. Ampella’s
Batie West gold project recently announced a JORC compliant inferred
resource estimate of 18.6 Mt at 2.0 g/t gold for 1,194,000 ounces gold.
Blackthorn Resources, formerly Aim Resources is currently involved
in the Perkoa Zinc Mine which is currently the largest zinc mine
development undertaken in the country. It is a classic VMS deposit with
a JORC code compliant ore reserve of 6.3 million tonnes at a mine head
grade of 13.9% zinc (at a 9% Zn cut off), equating to 873,400 tonnes
of contained zinc metal.
“Ampella Mining and Blackthorn Resources currently possess large
deposits in Burkina Faso”
Burkina Faso Permits – Source ElDore Mining Corp Ltd
The Fouli prospect is located in the south-western part of the Fouli
permit and covers 248km. The zone of particular interest that falls in
this prospect extends for 2km in a NW trend and is up to 1km wide.
Historic soil sampling at Fouli produced a gold anomaly following the
North West trend. Geological mapping and rock chip sampling was
carried out at the same time with a total of sixty rock chip samples
Prior to Eldore acquiring the tenements, drill testing had
commenced with significant gold intersections obtained. Some of the
best results included:
23m @ 2.59 g/t including 7m @ 7.96 g/t
11m @ 1.33 g/t including 4m @ 3.41 g/t
4m @ 5.90 g/t
The Tantiabongou permit covers 120km of land just North of Fouli. At
Tantiabongou, PD will be focusing their efforts on the Watamtonga
prospect. The Watamtonga prospect is located in the northern part of
the adjoining Tantiabongou permit.
Soil sampling identified this anomaly in the late 1990s and the
historic soil data defines a 3000m long gold anomaly. Trench sampling
across and around the main structure returned some encouraging gold
mineralised zones of significant width and grade however the data is
incomplete and the results not allowed to be published. There has been
no drilling to further define the prospect. Mapping and rock chip
samples have previously been carried out with 11 samples averaging
3.38g/tonne with the best result 7.45g/tonne.
SIRBA AND MADYABARI
The Sirba permit lies South West of Fouli and immediately next to the
Madyabari permit. Sirba covers 198km of ground whilst Madyabari
Previous exploration through various soil and rock chip samples
collected returned promising results with six significant gold anomalies
defined. These anomalies have yet to be further explored however the
potential discoveries in this area do create an attractive investment
case for ElDore. Exploration is still in its infancy with PD to commence
its exploration program immediately.
“Positive move partnering PD who has the technology and in-depth
experience in West Africa”
ABOUT PREDICTIVE DISCOVERY
Predictive Discovery Pty Ltd (“PD”) is an exploration company that is
using a new technology-based approach to make large high value
mineral discoveries. PD’s ambition is to be a highly successful mineral
exploration company and establish a new industry standard for low
discovery cost via an intense focus on targeting efficiency. PD’s initial
goal is to discover high value gold deposits in West Africa and
Australia. However the technology is applicable to other commodities
and other regions.
Chairman of PD, Phil Harman, is currently the Chairman of
Gippsland Offshore Petroleum and a Director of Callabonna Uranium
Limited. Formerly Chief Geophysicist of BHP Billiton, he was responsible
for commercialising the FalconTM technology out of BHP Billiton and has
substantial experience in senior positions in the junior exploration
Managing Director of PD, Paul Roberts, has a long and successful
history in mineral exploration management and mine geology both in
Australia and overseas. He was responsible for discovery of the Henty
gold deposit and major extensions to the St Dizier tin deposit, both in
Tasmania, as well as resource evaluations of the Kuridala copper-gold
deposit in North Queensland, the Bongara zinc deposit in Peru and a
number of gold deposits in the Cue and Meekatharra Districts in Western
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