Predictive Discovery Ltd (ASX:PDI) has returned wide high-grade diamond drilling results at depth from the Bankan Gold Project in Guinea, including 33 metres at 4.5 g/t.
Deep drilling underway at NE Bankan deposit is aimed at extending and infilling the high-grade gold zone at depth below the US$1800/ounce optimised pit shell containing the maiden resource estimate.
“This deeper drilling continues to extend the high-grade zone, now more than 100 metres below the open-pit, confirming Bankan as one of the most exciting gold deposits globally," managing director Andrew Pardey said.
“We have twin focuses of growing and infilling the known deposits at NE Bankan and Bankan Creek and continuing the search for further new gold deposits.
“Our technical director Paul Roberts is directing a range of aggressive programs designed to uncover new deposits along Bankan’s 35-kilometre-long gold corridor.”
Two multipurpose rigs are on site drilling the deep diamond holes.
Map of the Bankan Project showing depth and drill intercept results.
Highlights
Two drill holes intersected broad zones of gold mineralisation more than 100 metres below the US$1,800/ounce resource pit shell.
• BNERD0103: 48 metres at 2.1 g/t gold from 562 metres and 8 metres at 1.4 g/t from 613 metres; and
• BNERD0104: 7 metres at 1.02 g/t from 516 metres and 33 metres at 4.5 g/t from 536 metres, including 8 metres at 13.4 g/t from 547 metres.
The company is delighted with the results from the two holes with the BNERD0103 48-metre result reinforcing faith in a southerly plunge of the high-grade gold zone about 50 metres to the south of the interpreted position of the high-grade gold zone, while the BNERD0104 intercept provides further confirmation of the consistency of the core high-grade gold zone.
Gold intercepts in this hole contain 170 cumulative gram metres of gold, which grow the inventory of exceptional mineralisation.
On the back of these strong results, share prices have been as much as 6.3% higher this morning to A$0.287, a new high of more than eight years.
Geology manager appointed
The company also announces that Norm Bailie will take the helm as geology manager, focusing on the NE Bankan and Bankan Creek deposits.
Bailie has a track record in international exploration management, driving exploration growth at several major African mines including Sukari, Tasiast and Chirano.
"The addition of Norm, a high-calibre geologist with extensive African experience including a complete understanding of the development path from grassroots exploration through to reserve definition will allow us to fully maximise our world-class gold deposit,” Pardey said.
Next steps
Diamond drilling continues, with the two multipurpose drill rigs drilling holes to depths of 500 to 650 metres below surface, to explore for deeper extensions of the high-grade gold zone.
Planning is in train for additional resource definition drilling as part of the continued growth strategy. Aircore and power auger target definition is running in parallel, testing structural target areas interpreted from the aeromagnetic survey across the project area.