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 company will seek to accelerate drilling in early February with a second RC/DD rig to remain on schedule for delivery of a maiden mineral resource estimate in mid-2021.
The move creates a far simpler ownership structure and greater appeal as the company considers potential divestment opportunities for the Burkina Faso assets.
The company completed a share placement in October, raising $10.6 million to drive exploration on the project during the December quarter.
The company received strong participation from new international institutional investors, major existing shareholders, the board and senior management.
The company is undertaking a capital raising and has requested a trading halt of its securities to allow it time to formalise the raising.
The company has received the final reverse circulation results from the NE Bankan gold mineralised zone and a review of drilling data is underway.
The Bankan project is in Guinea’s Siguiri Basin, which hosts AngloGold’s large Siguiri Mine - the discovery consists of a 1.6-kilometre-long gold footprint with mineralisation continuing across the Kaninko and Saman permits.
The company is confident that the generally even distribution of gold grades across the strike bodes well for the planned maiden resource estimate in mid-2021.
These new permits will ensure Predictive can continue to explore the potential in north-south mineralised zones to the north of NE Bankan and Bankan Creek deposits.
The company continues to accumulate strong results which are expected to contribute to a maiden resource estimate by mid-2021.
The auger drilling extended the NE Bankan gold mineralised footprint and also identified two new high-grade regional gold targets.
Drilling across the Bankan Project has returned promising results enabling Predictive to identify areas for more extensive follow-up.
Drilling at Bankan Creek and NE Bankan shows two strong prospects at the project, around 3 kilometres apart.
A fully funded follow-up drilling program is underway at NE Bankan consisting of 25,000 metres of RC drilling, 5,000 metres of diamond drilling and 20,000 metres of auger drilling.
Glomin will obtain an 80% equity interest in the company’s Cote d’Ivoire subsidiary, Ivoirian Resources SARL, by managing and funding exploration activities.
The first five diamond holes at the NE Bankan discovery have intersected wide zones of good to high-grade gold with no reduction in grade at depth.
The halt will remain in place until Friday, July 1, or when an announcement is released.
Predictive holds about 800 square kilometres of prospective landholdings within the Siguiri Basin which hosts Anglogold’s large Siguiri Mine (+10 million ounces).
Both the RC and diamond drilling are ongoing with RC drilling on single shift and diamond drilling on double shift and 308 RC drill samples awaiting analysis at the SGS Bamako laboratory.
With the current renaissance in Victorian gold exploration, Predictive Discovery looks forward to the Petratherm’s exploration activities on this project.
