viewPredictive Discovery Ltd

Predictive Discovery growing NE Bankan gold potential with results up to 55 metres at 3.3 g/t

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.

Predictive Discovery Ltd - Predictive Discovery reports more strong drill results from NE Bankan Gold Deposit
Predictive’s in-country geologists logging diamond drill core at the Bankan Project

Predictive Discovery Ltd (ASX:PDI) continues to enhance the potential of NE Bankan deposit within the Bankan Gold Project in Guinea with drilling returning results of up to 55 metres at 3.3 g/t gold from 4 metres.

Assays have been received from 15 infill reverse circulation (RC) holes and four diamond (DD) holes at the project within the prolific Siguiri Basin that hosts a number of multi-million-ounce deposits.

The 55-metre intersection was in an RC hole and included 5 metres at 5.2 g/t from 19 metres, 2 metres at 7.9 g/t from 37 metres, 2 metres at 6.3 g/t from 44 metres and 1-metre at 14.4 g/t from 51 metres.

Other strong RC results were 20 metres at 1.4 g/t from 18 metres, 6 metres at 2.2 g/t from 23 metres and 29 metres at 1.3 g/t from 17 metres.

Diamond drilling returned up to 44 metres at 1.4 g/t from 33 metres, including 2 metres at 8.5 g/t from 70 metres in hole KKODD013.

Managing director Paul Roberts said: “These most recent RC and DD drilling results have provided important new insights into the geology of the NE Bankan discovery.

“The new west to east diamond drill results have shown that the central lodes continue for over 600 metres on a clear, linear north-south trend, with substantial cumulative mineralised true widths on most drilled sections.

“The relative simplicity of the interpretation to date, suggests that line to line continuity is good, complementing our earlier recognition of good hole-to-hole continuity on the cross sections and a generally even distribution of gold grades across strike, all of which bodes well for the future planned maiden resource estimate by mid-2021.”

RC results

The RC drilling was designed to complete shallow coverage (to 75 metres vertical depth) over 1.3 kilometres of the known 1.6 kilometre-long gold mineralised footprint.

Assay results from a further 15 RC holes have boosted the company’s confidence in the ore deposit’s central lodes with other intersections including:

  • 11 metres at 1.1 g/t from 79 metres and 7 metres at 1.5 g/t from 92 metres; and
  • 9 metres at 2.8 g/t from 81 metres to the end of hole.

Diamond drilling

Assays received from a further 4 DD-holes at the NE Bankan discovery have confirmed clear north-south strike continuity of the central gold-mineralised lodes, with other notable intersections including:

  • 19 metres at 1.6 g/t from 88 metres, including 5 metres at 3.7 g/t from 96 metres; and
  • 29 metres at 1.4 g/t from 8 metres, including 2 metres at 8.5 g/t from 10 metres.

Two diamond holes were drilled in the opposite direction to the RC holes on the same section (west to east) and confirm the true widths and down-dip continuity of the gold mineralised intercepts.

More assays pending

Interpretation of the earlier drilling along with the KKODD013 intercept has clarified the company’s interpretation of the surface position of the central lodes at NE Bankan along north-south trends.

Assays are pending from a further two west to east diamond drill holes, drilled respectively 80 metres and 160 metres south of KKODD013, which will provide further insight into the distribution of the mineralised lodes at depth.

Bankan Project, NE Bankan Prospect drill hole locality plan showing positions of new DD and RC drill holes along with previous DD, RC and AC and power auger results, and pending assays.

“Potential to step-out”

West-east directed RC drilling on the northernmost drill line intersected a west-dipping zone of gold mineralisation which the company believes demonstrates the continuation of the NE Bankan gold mineralisation for at least 250 metres north into the Saman permit and remaining open.

Roberts said: “We are encouraged to see a strengthening of results in the northernmost RC drill line tested so far at NE Bankan where the mineralised zone appears to be stronger than in the area immediately to the south, offering potential to step-out further along strike to the north and discover yet more oxide gold mineralisation.”

Additionally, gold grades are strengthening north highlighting the potential for more strike extensions in the undrilled 300-metre-long northern section of the power auger defined gold mineralised footprint and possibly beyond.

Ground magnetic data

Interpretation of ground magnetic data shows that the gold mineralisation is located within a north-south structural corridor, providing guidance for ongoing exploration elsewhere in Predictive’s expanded Bankan Project ground package.

Roberts said: “The new ground magnetic data interpretation has given us, for the first time, a clear explanation of the localisation of mineralisation at NE Bankan.

“Recognition of the north-south structural corridor at NE Bankan gives us an additional tool to search for similar signatures in magnetic data both within the undrilled gap between Bankan Creek and NE Bankan as well along the 35 kilometres of strike that we now hold north and south of the NE Bankan gold deposit, following the recent acquisition of the Bokoro and Argo permits.”

Next steps

The first phase (Bankan-1) drilling has been successfully completed with more than 28,000 metres of power auger, AC, RC and DD drilling up to mid-September.

A second phase (Bankan-2) drill program is scheduled to commence around October 22 following receipt and analysis of the outstanding RC and DD drill results.

This program will be conducted with a powerful multipurpose rig (RC and DD) enabling deeper drilling and greater capacity for deeper RC drilling than the RC rigs used to date.

Power auger drilling is also planned to test directly west of the NE Bankan power auger drill grid and this will start in October as soon as the seasonal rains have ceased.

Additional ground magnetics surveying will be carried out once the rains have stopped to facilitate use of the new magnetics-based structural understanding to target more NE Bankan-like structural targets between Bankan Creek and NE Bankan.

An aeromagnetic survey over most of the company’s ground position (Kaninko-Saman-Bokoro-Argo) is planned for December 2020 or early 2021.

Quick facts: Predictive Discovery Ltd

Price: 0.062 AUD

Market: ASX
Market Cap: $51.08 m

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