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Predictive Discovery returns strong Bankan Creek widths and grades with maiden gold resource upcoming

"The new results add further confirmation of Bankan Creek’s exciting potential, adding to the already impressive list of drill intercepts from that prospect, and will make an important contribution to the upcoming MRE,” says MD.

Predictive Discovery Ltd - Predictive Discovery returns strong Bankan Creek widths and grades with maiden gold resource upcoming
Aircore drill rig at NE Bankan testing beneath gold anomalous zones identified by power auger drilling.

Predictive Discovery Ltd (ASX:PDI) continues to add to the golden potential of its Bankan Gold Project in Guinea through broad, high-grade results of up to 34 metres at 3.7 g/t gold from 6 metres at the Bankan Creek deposit.

New results from seven diamond drill (DD) and reverse circulation (RC) holes totalling 1,268 metres provide confidence for the upcoming maiden resource estimate which is due to be completed by late September.

Broad, high-grade results

Within the 34-metre intersection was 5 metres at 15.5 g/t from 17 metres and other strong results are:

  • 17 metres at 1.6 g/t from 113 metres and 10.6 metres at 3.8 g/t from 142 metres;
  • 21 metres at 1.5 g/t from 38 metres and 18 metres at 2.6 g/t from 64 metres, including 2.5 metres at 14.5 g/t from 73 metres as well as 15.2 metres at 1.9 g/t from 93.8 metres;
  • 36 metres at 1.8 g/t from 17 metres; and
  • 12 metres at 1.7 g/t from 6 metres.

Managing director Paul Roberts said: “We are pleased to have received all drill assays required for our maiden mineral resource estimate (MRE).

"The new results add further confirmation of Bankan Creek’s exciting potential, adding to the already impressive list of drill intercepts from that prospect, and will make an important contribution to the upcoming MRE.

"We have not yet reached the limits of the Bankan Creek deposit either at depth or along strike and it is expected grow significantly with additional drilling.

"Resource estimation and metallurgical test-work are progressing well and on schedule for completion in September.”

Shares higher

Shares have been as much as 16% higher to A$0.145 while PDI’s market cap before opening was approximately A$168.9 million.

Bankan Creek plan view showing new results (red labels) overlain on the power auger and trench defined near-surface gold anomaly.

All resource drill data has been submitted to independent resource consultants CSA Global for preparation of the maiden MRE.

NE Bankan drilling

Also providing encouragement for the company is the NE Bankan deposit where one hole was completed to test the southern margin of the Central Gold Mineralised Zone.

Results from this hole, BNERD0089, show that the overall plunge of the deposit is directly down-dip to the west as it intersected the mineralised position south of and outside the high-grade core.

NE Bankan longitudinal projection illustrating the new high-grade gold zone (red), with hole BNERD0089 south of the main mineralised zone.

A deeper drilling program targeting the high-grade gold zone is now testing the down-dip extensions of the high-grade gold zone reported last month with two diamond rigs in operation.

Roberts said: "Aggressive exploration of the NE Bankan deposit below the limits of the current resource drill coverage has accelerated with the addition of a second multi-purpose drill rig to explore for extensions of the high-grade gold zone at depth. We expect first results from this extensional drilling to be released in the coming weeks.”

Bankan Creek is a satellite discovery 3 kilometres to the west of NE Bankan and bears the hallmarks of a strong gold mineralised system that will contribute significantly to the maiden MRE.

Mineralisation at Bankan Creek extends for around 300 metres along strike and remains open at depth and along strike. Drilling to date is mostly limited to a vertical depth of 150 metres or less.

Regional exploration

The Bankan Project regional exploration program has also been accelerated with the addition of one aircore drill rig and with power auger drilling ongoing.

"Our regional Bankan exploration program is also stepping up during the current rainy season with the addition of an aircore drill rig,” the MD said.

“Aircore drilling will test beneath the many auger holes which have obtained encouraging gold intercepts in the past 12 months.”

The initial phase of metallurgical test-work is nearing completion with results expected to be released in September prior to the MRE.

Next steps

Combined RC and diamond drilling has been ramped up, with a second diamond drill rig now in operation.

Both rigs are targeting depth extensions to the recently recognised high-grade gold zone beneath the limit of the current resource drilling. Two holes have been completed and a further two are in progress.

Following completion of a fifth hole in the same region, both rigs will be employed to test the high-grade gold zone within the known limits of the NE Bankan deposit and at greater depths.

Results from the new, deep drilling program will be released as they come to hand but will not be included in the maiden MRE for which all results have now been received.

An aircore drill rig has started work on the Bankan Project, testing beneath gold mineralised power auger intercepts. This rig is expected to be employed on the Bankan and other PDI Guinea projects, including Koundian, throughout the rest of 2021.

Auger drilling is ongoing on the Bankan project testing the northern extension to the NE Bankan trend on the Saman permit.

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Predictive Discovery on track for maiden resource at Bankan Creek in September

Predictive Discovery Ltd (ASX:PDI)'s Paul Roberts speaks to Proactive soon after announcing they're continuing to add to the golden potential of its Bankan gold project in Guinea through broad, high-grade results of up to 34 metres at 3.7 g/t gold from 6 metres at the Bankan Creek deposit. New...

on 25/8/21

5 min read