Predictive Discovery Ltd (ASX:PDI) is confident of finding new zones of gold mineralisation at its flagship Bankan Gold Project in Guinea, following new shallow high-grade gold intersections within 1.5 kilometres of the NE Bankan prospect.
The company is conducting aircore (AC) drilling testing multiple promising targets identified by previous regional auger drilling and structural analysis of aeromagnetic data.
High-grade hits
Strong results included 28 metres at 12.1 g/t gold from 22 metres including 6 metres at 48 g/t from 26 metres, with 2 metres in excess of 100 g/t.
The same hole also returned 16 metres at 2.3 g/t from surface including 2 metres at 7.5 g/t from 2 metres.
Other results are:
- 8 metres at 3.3 g/t from 6 metres including 2 metres at 10 g/t;
- 4 metres at 4 g/t from 16 metres including 2 metres at 7.2 g/t; and
- 12 metres at 1.8 g/t from 32 metres.
These results have seen shares as much as 17.3% higher in early trading to A$0.17.
Bankan Project showing new aircore results close to the NE Bankan and Bankan Creek prospects.
Bankan potential just beginning
Predictive managing director Paul Roberts said the results were extremely encouraging given its extensive AC drilling program had only just begun - 16 holes for 660 metres have been reported so far.
“These shallow, high-grade results are a great start to our regional AC program and confirm the potential for discovering new zones of gold mineralisation very close to NE Bankan,” he said.
“Importantly, some of the new AC drill results also suggest that transported material may have been too deep in places for the auger to drill through it, opening up the possibility that some of the new mineralised zones reported here may extend significantly along strike in follow-up AC drilling.
“Our approach to exploration on the Bankan Project has been methodical, starting with power auger grid drilling and surface geochemical sampling and following up plus 0.25 g/t gold anomalies with AC drilling.
“This approach successfully led to the NE Bankan and Bankan Creek discoveries and with both deposits now the focus of resource studies and systematic extensional drilling, we have returned to AC scout drilling across the permit area with immediate success.
“These results are further evidence that we are just at the beginning of the Bankan discovery story with a lot more gold to find across the full project area.”
Next steps
Predictive will continue to report AC drilling results as they come to hand, while its maiden resource estimate for Bankan is on track for completion “in the next week”.
AC drilling is ongoing and the rig is testing gold anomalous areas in the Argo licence area 15-20 kilometres north of NE Bankan.
Upon completion of that program, the AC rig will be returned to follow up the newly identified prospects nearer to NE Bankan.
- Daniel Paproth