Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF) has returned positive drilling intercepts from the NEB and BC deposits within its 5.38-million-ounce Bankan Gold Project in Guinea while new resource definition drilling programs are underway to support the definitive feasibility study (DFS).
The current drilling aims to further define the project’s existing mineral resources and establish additional deposits to extend the current 12-year mine life.
Resource definition drill results
Results from resource definition drilling are from 20 holes for 2,047 metres at the BC deposit, which hosts a current mineral resource of 487,000 ounces. This deposit is around 3 kilometres west of the main NEB deposit.
Near-resource exploration continued to test existing and new targets in the area, with results from a total of 132 holes for 7,100 metres of drilling reported.
PDI managing director Andrew Pardey said, “With PDI’s PFS outlining attractive optimisation opportunities from further resource development work, we have renewed our focus on this as we move forward with the early stages of our DFS fieldwork.
“The initial results at BC are very encouraging and confirm there is potential to upgrade inferred mineral resources just below the PFS pit designs, which could ultimately lead to an increase in the current 207,000-ounce BC ore reserve.
“Encouragingly, drilling also encountered positive intercepts outside the overall mineral resource estimate.
“We are also pleased to advance the 800W and SB targets from exploration to resource development drilling.”
BC deposit
Diamond and reverse circulation (RC) drilling returns from BC deposit delivered multiple positive results in line with the opportunity identified in the pre-feasibility study (PFS) to increase ore reserves.
The best intercepts were:
- 14 metres at 4.60 g/t gold from 71 metres,
- 14 metres at 4.54 g/t from 47 metres,
- 21 metres at 2.50 g/t from 79 metres,
- 12 metres at 4.22 g/t from 22 metres,
- 7 metres at 4.00 g/t from 98 metres,
- 6 metres at 3.11 g/t from 30 metres and
- 13 metres at 1.30g/t from 58 metres.
Drilling at BC is now complete with final results pending.
BC drill plan.
SB deposit
At the SB deposit, shallow aircore drilling recorded intercepts of:
- 19 metres at 1.22 g/t gold from 26 metres,
- 9 metres at 1.28 g/t from 10 metres and
- 6 metres at 0.75 g/t from 54 metres on the main N-S structure.
Other targets
Previous exploration defined numerous near-resource targets in the NEB and BC area, which have been subject to follow-up drilling campaigns aimed at discovering additional gold deposits to support a future operation.
Encouraging results at other near-resource targets include:
- 2 metres at 6.96 g/t from 6 metres, 2 metres at 4.04 g/t from 29 metres and 7 metres at 1.00 g/t from 18 metres at SEB;
- 3 metres at 5.47 g/t from 44 metres at BC North; and
- 2 metres at 4.60 g/t from 53 metres at BC East.
Drill plan for near-resource targets.
What’s ahead?
As the current phase of the near-resource exploration drilling program is nearly complete, PDI will focus on resource definition drilling to support the DFS.
Initially, this program will focus on infill drilling at the BC and Gbengbeden deposits to upgrade the inferred mineral resources to the indicated category, in line with the optimisation opportunity identified in the PFS.
PDI notes that drilling at BC is now complete, with assays pending from the final holes, and drilling is underway at the Gbengbeden deposit.
Additionally, limited resource definition drilling is underway at NEB targeting smaller high-grade structures within the resource pit shell. Drilling is also planned at the 800W and SB targets with the aim of defining maiden mineral resource estimates.
Once drilling at the NEB area is complete, PDI plans to shift its resource development work north to the Argo permit, where it hopes to define maiden mineral resource estimates at the Fouwagbe and Sounsoun targets.
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