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Predictive Discovery intersects broad widths up to 55 metres at 2.94 g/t gold in Bankan diamond drilling

The company continues to accumulate strong results which are expected to contribute to a maiden resource estimate by mid-2021.

Predictive Discovery Ltd -
The Bankan-1 RC-DD program is still ongoing and will continue until mid-September

Predictive Discovery Ltd (ASX:PDI) has intersected broad gold intersections of up to 55 metres at 2.94 g/t during diamond drilling at the flagship Bankan Project within Guinea’s Siguiri Basin.

Assay results have been received for a further five diamond drill (DD) holes and six reverse circulation (RC) holes from the NE Bankan and Bankan Creek discoveries, where drilling has re-confirmed NE Bankan as a large mineralised system with highly encouraging grades.

This drilling has continued to intersect gold mineralisation across the known power auger gold-anomalous zone as well as at depth, further enhancing the project's potential.

The main NE Bankan prospect remains open, with drilling ongoing at depth from west to east and along strike to the north.

"Supported by better gold grades"

Managing director Paul Roberts said: “We now believe that the main zone of gold mineralisation dips about 60 degrees towards the west, meaning that these new drill holes have intersected the mineralisation almost at right angles.

“Equally important, the earlier impression that gold grades may be higher in fresh rock than in the overlying saprolite is supported by the overall grades of the reported intercepts in holes KKODD009 and KKODD011, all obtained in fresh rock.

“This is a very positive outcome, suggesting that open pit mining at greater depths in fresh rock will be supported by better gold grades, and supporting our belief that we can target open-pittable gold mineralisation to a vertical depth of at least 200 metres.  

“Drill results to date have also highlighted the generally strong continuity of gold mineralisation at NE Bankan, both down-dip and across-dip.

“We are seeing long runs of good gold grades in both directions, suggesting excellent gold mineralisation continuity, which bodes well for the planned maiden resource estimate.”

NE Bankan prospect drill hole locality plan. 

Looking ahead 

Diamond drilling was directed from west to east and intersected the gold mineralisation in fresh rock almost at right angles to the mineralisation’s dip.

The Bankan-1 RC-DD program is ongoing and will continue until mid-September before a month-long hiatus.

Predictive expects ongoing receipt of assays for over a month, with around 4,000 samples awaiting assay in several West African laboratories.

Upon completion of the current drill program, results will be compiled and a geological review undertaken with assistance of a resource geologist to guide drilling orientation and spacing for the Bankan-2 program.

This work will help towards the company’s planned maiden resource estimate, which is targeted for the second quarter of 2021.

Koundian work

At the company’s Koundian permit, a large soil sampling and ground magnetics program has been completed, with results to vector down on potential drilling targets.

Results from both programs will be released when all soil and rock chip samples have been received.

Maiden resource by mid-2021

Roberts continued: “The drilling programs continue to make good progress with the RC rig now in the northern Saman permit and the DD rig continuing in the Kaninko permit.

“The DD rig has now completed 19 holes and continues to drill holes at both the NE Bankan and Bankan Creek prospects.

“As drilling takes a short break in the coming weeks, we look forward to completing a comprehensive geological review of the assay data to orient the second phase of Bankan drilling, which is scheduled to begin in late October and will be designed to assist in moving the Bankan project towards a maiden resource estimate by mid-2021.”

Shares have been up as much as 14% to 7.2 cents intra-day.

Quick facts: Predictive Discovery Ltd

Price: 0.061 AUD

ASX:PDI
Market: ASX
Market Cap: $50.26 m
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