Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF) has confirmed the Tier-1 status of its Bankan Gold Project in Guinea by delivering a 29% increase in the mineral resource estimate (MRE) to 100.5 million tonnes at 1.66 g/t gold for 5.38 million ounces.
The updated MRE comprises 4.89 million ounces for the NE Bankan deposit and 487,000 ounces for Bankan Creek, with 4.14 million ounces or 77% of the total resource now in the indicated category.
This provides a solid case for Predictive to complete a scoping study as well as the environmental, social and corporate governance (ESG) workstreams needed to secure a mining permit in the first half of next year.
Bankan Project updated mineral resource estimate.
The results are in
The resource update follows the latest drill results from 27 holes for 6,203 metres of diamond drilling at the NE Bankan and Bankan Creek deposits and reverse circulation (RC) drilling at the Gbenbeden target.
Six diamond holes for 3,268 metres were completed at NE Bankan, with some of the best results from within the resource pit shell including:
- BNEDD0216 - 22.5 metres at 5.75 g/t gold from 611.5 metres, including 1-metre at 100 g/t from 615 metres; 9 metres at 6.61 g/t from 718 metres, including 5 metres at 11.14 g/t from 718 metres;
- BNEDD0230 - 29.65 metres at 3.42 g/t gold from 365.2 metres, including 1.7 metres at 15.44 g/t from 378 metres, including 1-metre at 10.60 g/t from 387 metres;
- BNEDD0226 - 18.45 metres at 3.20 g/t gold from 184 metres, including 4 metres at 7.93 g/t from 195 metres; 4 metres at 6.02 g/t from 249 metres, including 1-metre at 22.00 g/t from 249 metres; 17 metres at 2.10 g/t from 265 metres, including 2 metres at 8.60 g/t from 271 metres; and
- BNEDD0225 - 26 metres at 1.78 g/t gold from 153 metres.
Positive intercepts outside the resource pit shell include 23.35 metres at 1.93 g/t gold from 262 metres, 9.9 metres at 1.46 g/t from 236.2 metres and 10.2 metres at 0.99 g/t from 284 metres.
Solid results were also received from within the Bankan Creek resource pit shell, including 5.35 metres at 5.06 g/t gold from 140 metres, 10.9 metres at 2.06 g/t from 240.1 metres and 7.4 metres at 1.79 g/t from 128.6 metres.
At Gbenbeden, Predictive drilled 18 holes for 2,024 metres targeting extensions immediately north of the main NE Bankan deposit.
Infill and extension drilling here delivered best results of 15 metres at 1.52 g/t gold from 10 metres, 5 metres at 3.70 g/t from 16 metres, 9 metres at 1.83 g/t from 132 metres and 1-metre at 9.65 g/t from 66 metres.
"Outstanding results"
“The increase in Bankan’s mineral resource by 1.2 milion ounces to 5.38 million ounces is an outstanding result and confirms its status as a Tier-1 gold project,” Predictive managing director Andrew Pardey said.
“It is pleasing to see increases across the NE Bankan open pit and underground resources as well as the Bankan Creek deposit and excellent potential remains to further grow this resource base over time.
“Importantly, we have continued to upgrade the mineral resource, with a total of 4.14 million ounces now classified as indicated.
“This is crucial to delivering a robust scoping study, which we aim to complete in late 2023 as a key step in the process to secure a mining permit for the project in H1 2024.”
Next steps
“On the exploration front, our focus is shifting further towards our ongoing RC drilling campaigns, which are testing multiple near-resource targets as well as 11 drill targets at the highly prospective Argo area to the north,” Pardey continues.
“Any new discoveries will provide additional catalysts to PDI’s exciting growth trajectory in what remains a highly prolific and underexplored gold district in West Africa,” he added.
As of June 30, PDI had cash of A$44.9 million, well-funded to continue growing the Tier-1 project.
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