Predictive Discovery Ltd (ASX:PDI)’s new results from exploration drilling at its Bankan Gold Project in Guinea have extended the high-grade gold zone 50 metres below the US$1,800 per ounce optimised mineral resource pit shell.
Extensional drilling of the high-grade zone continues to demonstrate potential to add significantly to the company’s maiden resource of 3.65 million ounces at 1.56 g/t gold.
The underground potential of the NE Bankan deposit grows with every high-grade deeper intersection.
Best qualities of tier-1 deposits
NE Bankan NS longitudinal projection showing new drill results (red).
Predictive Discovery managing director Paul Roberts said: “These new results have confirmed the company’s belief that, as the shear zone is intercepted below the optimised resource pit shell, the high-grade mineralised zone continues to depth.
“With every new high-grade intersection below the existing open pit shell, the underground potential becomes clearer.
“NE Bankan shares the best qualities of tier-1 deposits, namely outstanding grades and widths combined with excellent mineralisation continuity.
“As our drilling progresses, incoming CEO Andrew Pardey and myself are currently in Guinea engaged in high-level consultations with senior government officials.“
Drill results
Assays from two diamond drill holes at the NE Bankan deposit include:
➢ 24.2 metres at 8.8 g/t gold from 463.8 metres, including 12.4 metres at 15.3 g/t from 465.6 metres; and
➢ 50 metres at 2.4 g/t from 448.0 metres, including 15 metres at 4.9g/t from 449 metres, and 10 metres at 1.9 g/t from 544.6 metres.
Diamond drilling is ongoing at NE Bankan with two multi-purpose drill rigs drilling holes at depths between 80 metres and 130 metres below the US$1,800/ounce optimised pit shell.
Regional exploration is ongoing with aircore drilling across the company’s 356 square kilometres Bankan Project area with more than 90% of the project untested by any drilling.
Next steps
Diamond drilling is continuing with two multi-purpose drill rigs in operation.
At present, both are drilling holes at greater depths, between 450-500 metres below surface, to explore for deeper extensions to the high-grade gold zone.
One of the new deeper holes is testing for a possible southerly plunge of the high-grade gold zone as it extends to depth.
Results are pending from more diamond drill holes testing beneath the US$1,800 per ounce optimised pit shell with the potential to extend the high-grade gold zone further.
Bankan Gold Project
The Bankan Gold Project is 550 kilometres by road from Guinea’s capital Conakry within the region of Upper Guinea and is 10 kilometres west of the regional administrative centre of Kouroussa.
The project area covers 356 square kilometres in four exploration permits - Kaninko, Saman, Bokoro and Argo.
Three permits are held by Predictive’s wholly-owned subsidiaries while Argo is held in a joint venture with the owners of local company Argo Mining SARLU, through which the company has the right to acquire a 100% equity interest at decision to mine.
In only 17 months, Predictive has completed more than 53,000 metres of RC and diamond drilling on the Bankan Project, returning an inferred resource of 72.8 million tonnes averaging 1.56 g/t gold for 3.65 million ounces of gold , 91% of which came from NE Bankan, all for a very low resource discovery cost of $4/ounce.