Predictive Discovery Ltd (ASX:PDI) is making progress as it aims to bring a Tier-1 gold project in Guinea into production with a 60,000-metre drilling program underway and a number of key appointments made.
The diamond and reverse circulation (RC) drilling program is expected to increase and upgrade the current 3.65-million-ounce inferred resource at the Bankan Gold Project.
There are six drill rigs on site with extension and infill drilling underway at the NE Bankan and Bankan Creek deposits while an updated resource estimate is expected early next quarter.
Experienced team
To help drive the Bankan Project to production, the company is building an experienced management team and has made four new appointments – Pierre Louw as chief financial officer (CFO), Marlyatou Balde as country manager, Andre Pieters as ESG manager and Chris Boreham as project feasibility manager.
Critical Resource, a globally significant environmental firm based in London, has also been engaged to develop an 18-month best practice biodiversity management program.
Environmental studies
PDI’s managing director Andrew Pardey said: “We are delighted to welcome our four new senior leaders who will support our goal of developing and building Guinea’s next gold mine.
“With the asset’s proximity to Haut Niger National Park and our commitment to local engagement, we will continue to develop an 18-month best practice biodiversity management program.”
The company has baseline environmental studies underway, including stakeholder mapping and engagement with communities, government ministries, regulators, local interest groups and NGOs, Protected Area Assessment, Critical Habitat Assessment and Dry & Wet season surveys (cameras, aerial drone scanning, acoustic, eDNA).
New appointments
New CFO Louw has more than 35 years of experience in Africa, including Tanzania, Egypt, Zambia and South Africa. He was previously CFO for Centamin PLC (LSE:CEY, TSX:CEE, OTC:CELTF), financial director of the Lumwana Mining Company in Zambia (Equinox), and finance & business manager of Geita Gold Mine, Tanzania.
Balde is a geologist with more than 25 years’ experience in Guinea and internationally, holding senior roles with AngloGold Ashanti (ASX:AGG), Barrick and BHP. Most recently, she worked as technical advisor to Guinea’s Minister of Mines and Geology.
Pieters is a mining engineer with +30 years of experience in hard rock mining underground and open pit, including at the Kinross Tasiast mine. Most recently he worked in Guinea, leading the environmental compliance program for a major bauxite exporter.
Boreham has had more than 30 years as a mining engineer in hard rock mining underground and open pit, with extensive experience in gold and copper mines, narrow view and bulk deposits and delivering successful feasibility studies across Australia, China and Africa. Previously he was general manager of the Sukari Gold Mine.
Predictive’s Guinea portfolio with the Koundian Project 115 kilometres ENE of the flagship Bankan Project.
Clear strategy
Predictive expects to deliver a comprehensive scoping study to the Government of Guinea by the end of 2023 and is well-positioned to become Guinea’s largest gold mine within five years with a clear strategy to grow the resource base and take Bankan into production.
"On the exploration front, drilling at the Bankan Project is ramping up with more rigs and a 60,000-metre program to complement several baseline environmental studies - all are now underway,” Pardey said.
“Our goal is to deliver a comprehensive scoping study to the Government of Guinea by the end of 2023, putting us in a strong position to develop and build the country’s largest gold mine.”
Koundian results
Meanwhile, at the Koundian Project, which is about 115 kilometres ENE of Bankan, strong assay results have been received from an 82-hole, 3,748-metre aircore drilling program targeting a series of structural, rock geochemical and auger gold anomalies.
Results from 63 holes include:
- 6 metres at 3.1 g/t gold from 18 metres;
- 2 metres at 2.9 g/t from 6 metres;
- 6 metres at 3.3 g/t from 18 metres; and
- 12 metres at 1.3 g/t from 6 metres.
Rock chip sampling has returned a best result of 18.8 g/t gold with 26% of samples >1.0 g/t.
Pardey added: "The new assay results at Koundian are particularly encouraging as, together with the drilling results announced from NE Bankan in April, show the potential of Predictive’s highly prospective land package, all of which is located within Guinea’s prolific Siguiri Basin.
“The Koundian project is strategically located along strike from the Managem Group’s 2-million-ounce Tri-K gold deposits, with the southern permit boundary just 7 kilometres north of the Koulekoun deposit, which hosts 1.2 million ounces at 1.52 g/t gold.
“We look forward to receiving more samples from the aircore drilling and rock chip sampling.”