viewPredictive Discovery Ltd

Predictive Discovery reports high gold grades at Kaninko Project, West Africa

The company is focused on its west African gold projects in Burkina Faso, Cote D’Ivoire and Guinea.

Predictive Discovery Ltd - Predictive Discovery reports high gold grades at Kaninko Project, West Africa
A follow-up 2,500 metre drilling program is planned

Predictive Discovery Ltd (ASX:PDI) has revealed new results from a power auger drilling program completed at its 100%-owned Kaninko Gold Project in Guinea, West Africa.

Final assays have been received from 3,178 metres of shallow power auger drilling and 490 metres of trenching completed on the Bankan Creek and North-East Bankan Prospects.

The company has identified two, large prospective gold mineralised zones, in readiness for a 2,500-metre aircore (AC) and reverse circulation (RC) drilling program commencing shortly.

Predictive managing director Paul Roberts said: “We are very pleased with the ongoing excellent gold exploration results from Kaninko.

“We are now able to start drilling two highly promising targets at Bankan Creek and North-East Bankan and we look forward with great anticipation to the drill results.

“Kaninko was granted to Predictive less than 9 months ago.

“Since then, we have moved it forward from a greenfields tenement with no known history of past exploration to a property on which significant gold mineralisation has now been recognised - very rapid progress, especially after the normal wet season hiatus from July to October 2019.”

North-east Bankan prospect

New assays received from bottom-of-hole power auger samples at the north-east Bankan prospect returned some higher grade gold values than the shallower composite results reported previously, including 11.90 g/t gold (previous result was 7.83 g/t) and 10.30 g/t (previous result was 0.43 g/t).

The high-grade power auger assays were obtained close to the northern and southern limits of the previously reported 12.8-hectare anomaly which the company believes indicate the potential to find more of the same mineralisation along strike to the north and south.

Predictive Discovery’s Guinea Projects

Bankan creek prospect

At the Bankan Creek prospect, 490 metres of trenching has revealed broad widths of gold mineralisation at shallow depths.

Best results are:

  • 18 metres at 1.60 g/t (open to the north),
  • 37 metres at 0.94 g/t, and
  • 1 metres at 15.45 g/t.

Power auger drilling across the Bankan Creek prospect obtained a best intercept of 2.49 g/t gold from a bottom of hole sample.

Predictive has interpreted the trench and power auger results along with surface sampling and geological mapping which has identified a 350-metre-long, 100 metre wide zone for follow up drilling.

Next steps

Around 1,200 metres of angled AC/RC drilling, testing beneath the better power auger values, is scheduled to commence shortly at North-East Bankan, with about 900 metres of angled AC/RC drilling to follow at Bankan Creek.

A minimum of 2,500 metres of AC/RC drilling will occur across both prospects, along with at least one target on the Kankan Permit.

Roberts said: “We will announce further details of the imminent drilling program and other results from across the Predictive portfolio shortly.”

Predictive portfolio

The company holds about 500 square kilometres of prospective landholdings across five projects within the Siguiri Basin which hosts AngloGold Ashanti Limited’s (NYSE:AU) Siguiri Mine of more than 10 million ounces.

In the last 15 months, Predictive has completed numerous early-stage exploration programs including soil geochemical sampling, bulk leach extractable gold (BLEG) stream sediment sampling, ground geophysical surveys, rock-chip sampling, power auger drilling, trenching and mapping across the Kankan, Nonta, Kaninko and Boroto Projects.

Quick facts: Predictive Discovery Ltd

Price: 0.06 AUD

Market: ASX
Market Cap: $49.43 m

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