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Predictive Discovery higher on hitting wide gold zones in fresh rock at Guinea project

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.

Predictive Discovery Ltd - Predictive Discovery higher on hitting wide gold zones in fresh rock at Guinea project
Ongoing diamond and reverse circulation drilling is testing depth extensions

Predictive Discovery Ltd (ASX:PDI) is higher after intersecting wide zones of good to high-grade gold in fresh rock in the first five diamond holes at NE Bankan within the flagship Kaninko Gold Project in Guinea.

The deepest holes drilled to date at NE Bankan have returned up to 153 metres at 1.51 g/t from 47 metres to the end of hole and there appears to be no reduction in grade at depth.

Results have extended the zone of gold mineralisation to a depth of at least 150 metres and the deposit remains open.

Shares higher

Shares have been as much as 29% higher in early trade to 9.5 cents on volume of more than 40 million in the first hour.

Within the 153-metre intersection in hole KKODD004 was 6 metres at 10.40 g/t from 189 metres and this hole also included 23 metres at 3.7 g/t from 177 metres.

This confirms that high-grade mineralisation extends well below the oxide zone and deep into fresh rock.

“Highly encouraging”

Managing director Paul Roberts said: "With gold mineralisation at NE Bankan growing with receipt of each new batch of assays, the consistency and thickness of mineralisation both in the near-surface and at depth is highly encouraging.

“Significantly, the first DD results have confirmed that gold mineralisation at NE Bankan extends well below the oxide zone and deep into fresh rock with KKODD004 ending in mineralisation at a vertical depth of over 150 metres.

“While this discovery is still at an early stage, having only announced first drill results in April, we have made great progress in a short period of time in better understanding the controls on mineralisation at NE Bankan.”

High-grade results

Results from Hole KKODD003 include:

  • 78 metres at 2.58 g/t from 3 metres, including 4 metres at 13.64 g/t from 75 metres;
  • 14 metres at 1.60 g/t from 88 metres; and
  • 17 metres at 1.63 g/t from 141 metres.

Hole KKODD002 returned 22.2 metres at 1.51 g/t from 1.8 metres, including 2 metres at 7.65 g/t.

The vertical depth of the fresh rock transition appears to be between 50 and 70 metres.

Core from hole KKODD004 showing gold-bearing pyrite-carbonate vein mineralisation through intensely altered mafic rocks within a high-grade intercept of 6 metres at 10.4 g/t from 189 metres.

Gold mineralisation at NE Bankan has been defined within a 1.3-kilometre-long coherent power auger gold anomaly with aircore/RC drilling outlining a zone which is generally 100-200 metres wide in the portion of the anomaly drill tested so far.

Surface extent defined

Roberts said: "With no outcrop at surface to guide drilling orientation, we completed power auger drilling to define the surface extent of the mineralised zone, reverse circulation (RC) drilling to test the oxide mineralisation and now diamond drilling to test the mineralisation in fresh rock at depth.

"Drill holes to date have largely been orientated from east to west (270-degree azimuth), however these results and the recently released initial RC results suggest that the overall mineralised envelope may dip steeply to the west.

"While the AC and RC drilling may not have been optimally orientated to test that dip, it has successfully defined the width of the gold-mineralised system which varies from 100 metres to over 200 metres in width in the known central portion of the NE Bankan zone.

"Diamond drilling is now testing from west to east (90-degree azimuth) and RC drilling on the northern extension on the Saman Permit will be orientated in the same way.

"In so doing we believe that we will achieve a better understanding of down-dip mineralisation continuity."

Map of Predictive permits in the Siguiri Basin, Guinea.

The diamond drilling program was undertaken by Bays Drilling.

All of the diamond drill core was cut and assayed, mostly in 1-metre intervals, with the samples analysed by fire assay at the SGS laboratory in Bamako, Mali.

Awaiting RC assays

Samples from a further 31 reverse circulation (RC) holes totalling 2,635 metres and 1,168 power auger drill samples are in the laboratory awaiting assay.

The company is undertaking a fully funded drilling program focused on the discovery at NE Bankan consisting of a planned 25,000 metres of RC drilling, 5,000 metres of diamond drilling and 20,000 metres of auger drilling.

RC and diamond drilling is testing depth extensions of the northern portion of the discovery within the Kaninko and Saman permits.

Quick facts: Predictive Discovery Ltd

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