Predictive Discovery Ltd (ASX:PDI) is trading higher after its deepest drill hole to date hit gold 630 metres down-dip from the 3.65-million-ounce resource pit shell at the Bankan gold camp in Guinea.
A diamond drill hole returned 24 metres at 5.5 g/t gold from 850 metres, including 11 metres at 10.3 g/t from 852 metres.
The explorer’s current drill campaign is designed to foster resource growth down-plunge and along strike amid infill drilling work.
Based on the results to date, Predictive believes the high-grade gold zone at the NE Bankan deposit remains open at depth.
Investors have responded positively. sending shares 11.76% higher to A$0.19.
Developing resource model
Predictive managing director Andrew Pardey said NE Bankan continued to confirm its emerging tier-one status.
“Our deepest hole drilled to date extended mineralisation a further 300 metres down dip of the deepest previously completed hole and intersected wide zones of good to high-grade gold mineralisation,” he explained.
“As well as testing the high-grade shoot, close-spaced and shallow grade control reverse circulation (RC) drilling has also commenced at NE Bankan to help develop the resource model and contribute to mining studies.”
Pardey continued: “With the recently completed placement, Predictive is now fully funded to complete not only high-impact drilling programs that add significant ounces to our already large and growing resource base, but also progress key development and baseline environmental studies.”
Turning the soil at Bankan
Bankan hosts an inferred resource of 72.8 million tonnes at 1.56 g/t gold for 3.65 million ounces of gold.
Nowadays, deep drilling at NE Bankan is targeting the plunge extension of the project’s high-grade shoot with an updated resource statement due next quarter.
There are nine active drill rigs on site - three diamond, two multi-purpose diamond/RC, one RC, one aircore and two power auger drill rigs - conducting various resource development and exploration programs across the Bankan Project.
The 24-metre, 5.5 g/t gold hit is the deepest intersection recorded to date and further extends mineralisation a further 300 metres down-dip.
This is roughly 370 metres vertically below the bottom of the 2021 maiden resource estimate’s US$1,800/ounce pit shell.
Other results
As part of an infill program, hole BNERD0115 was drilled to close a 190-metre gap and allow an inferred resource classification to link across these gold hits.
BNERD0115 returned 27.6 metres at 5.2 g/t from 389 metres, including 6.2 metres at 12.1 g/t from 394 metres, and 1.7 metres at 8.3 g/t from 414 metres.
Meanwhile, the next hole down targeted local resource continuity on sections immediately north of a 41-metre, 5.21 g/t and 14-metre, 6.77 g/t gold hit.
This hole, BNERD0116, intersected 41 metres at 3.8 g/t from 556 metres, including 16.4 metres at 7 g/t from 558 metres and 1-metre at 11.2 g/t from 622 metres.
Predictive has also embarked on an angled RC grade control program to investigate the short-range variability on NE Bankan’s mineralisation.
Results for six holes are in, reporting:
- 4 metres at 1.3 g/t gold from 4 metres;
- 13 metres at 0.9 g/t from 1-metre;
- 6 metres at 1.2 g/t from 3 metres;
- 2 metres at 4.1 g/t from 32 metres;
- 9 metres at 2.9 g/t from 7 metres, including 2 metres at 7.6 g/t from 12 metres; and
- 22 metres at 1 g/t from the surface.