Company
ASX:PDI
Predictive Discovery Ltd is focused on delivering long-term sustainable value to our shareholders and stakeholders. Through its local company Mamou Resources, it plans to develop the Bankan Gold Project in the Siguiri Basin, Guinea.
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The large power auger program tested targets defined by an aeromagnetic survey and geological mapping, with the company confident that current and historical results demonstrate the potential to uncover a large gold deposit.
The company will no longer be responsible for exploration expenditure but will retain an interest in any potential discoveries on the JV permits.
Around 70,000 metres of drilling have been completed with three active rigs on-site to undertake aggressive drilling.
The company aims to complete drilling program comprising infill, extensional and exploration drilling, targeting multi-million-ounce deposits across its Guinea landholdings.
The company has made two significant gold discoveries within 18 months – at the NE Bankan and Bankan Creek prospects - through successful application of power auger drilling.
Predictive’s strong cash position of more than $9 million at the end of April, ensures the company is well-funded to continue its aggressive multi-rig drill program, aimed at delivering a maiden JORC resource in quarter three.
New targets are on interpreted ENE –WSW faults, crosscutting a newly recognised major 35-kilometre-long north-northwest structural corridor.
The company has made a second satellite discovery at its NE Bankan Project, with 14 metres at 4.0 g/t and 37 metres at 1.8 g/t in the first hole.
RC and diamond drilling continues with three rigs at Bankan to support a maiden resource estimate planned for mid-2021.
Over the past 11 months, the company has made two significant greenfield gold discoveries at Bankan - NE Bankan prospect and Bankan Creek – with the first phase of drilling at NE Bankan outlining a 1.6-kilometre-long zone of shallow gold mi
Francis Harper and Andrew Pardey have been appointed to the board as non-executive chairman and non-executive director, respectively.
In addition to the ongoing RC and diamond drilling, power auger drilling has been in progress at the Bankan Project since October last year.
Following completion of the initial infill drilling program and receipt of the deeper drilling RC and DD results, a systematic infill drill program will be planned in anticipation of the maiden resource estimate planned for mid-2021.
Over the past 10 months, the company has made two greenfield discoveries at Bankan, initially at NE Bankan prospect, and with steadily increasing RC and DD drill coverage at depth.
While the company will continue to monitor the situation, it is confident in the abilities of local authorities to manage the outbreak.
These latest results continue to enhance the company’s confidence in the potential of the Bankan Creek gold prospect.
New drilling results have demonstrated that the gold mineralised zones at both prospects remain open at depth and have indicated that the cumulative widths of gold-mineralised material are also widening at depth.
Three reverse circulation diamond drill rigs are active, with a second diamond drill now in operation at the NE Bankan Gold discovery.
Company directors have participated in the recent strongly supported institutional placement with shareholder approval secured on December 11, 2020.
With $14 million cash in the bank as 2020 draws to a close, the company is well funded to carry out an aggressive drill campaign at its Bankan Gold Project with the key objective to deliver a maiden JORC resource by mid-2021.
