Predictive Discovery Limited (ASX:PDI) has obtained high-grade assay results from eight holes for 4,322m of resource definition drilling at the Bankan Gold Project in Guinea.
Highlights
• Deep drilling at the NE Bankan (NEB) deposit intersects 12.85m @6.02g/t from 601.4m. This is outside the current Underground Mineral Resource and extends the defined high-grade mineralization below the US$1,800/oz optimized resource pit shell.
• Excellent infill drilling results from the bottom half of the resource pit shell, including 32m @5.92g/t from 471m, 44m @3.64g/t from 451m and 48m @2.88g/t from 457m. The Mineral Resource in this area is currently classified as Inferred.
• Infill drilling is ongoing and aiming to allow the majority of NEB’s Open Pit Mineral Resource to be upgraded to Indicated. This is a crucial part of the Scoping Study and is therefore a key step in PDI’s strategy to secure a mining permit for the Bankan Project.
• Gradient array induced polarization (GAIP) surveys have commenced on the Argo (AG) targets, located approximately 15km to 20km north of NEB on the major structural trend. RC drilling planned to commence following receipt of GAIP results.
“It is pleasing to see growth in the high-grade mineralization below the resource pit shell, confirming upside potential to the current Underground Mineral Resource,” Managing Director, Andrew Pardey, said.
“We are continuing deep drilling in this area to close the gap between the base of the optimized resource pit shell and the top of the current underground inferred resource.
“NEB continues to deliver outstanding infill drilling results. Importantly, the best and highest-grade results are from the bottom part of the pit shell. These results confirm the improving grade profile of the deposit at depth and support the higher relative grade of the current Inferred Open Pit Mineral Resource.
“Infill drilling remains a key near-term focus to support further upgrading of the Mineral Resource to Indicated. This is crucial for the Scoping Study and therefore an important part of the permitting process for Bankan.
“Regionally, the Bankan Project has significant potential for additional gold discoveries. Geophysics surveys are underway on the northern Argo permit, and we look forward to receiving results and commencing RC drilling at these exciting targets.”
Extensive resource definition drilling is ongoing at Bankan in line with PDI’s strategy to increase the size and improve the classification of the current Mineral Resource estimate.
The excellent results in holes BNEDD0186, BNEDD0192 and BNEDD0190 intersected the high-grade shoot in the bottom half of the resource pit shell, where the Open Pit Mineral Resource is currently classified as Inferred. These results confirm the improving grade profile of the deposit at depth and support the higher relative grade of the Inferred Open Pit Mineral Resource (2.23g/t).
Deep drill hole BNEDD0185 intersected high-grade gold between the base of the pit shell and the current Underground Mineral Resource, extending the defined mineralisation in this area and illustrating upside potential to the current Underground Mineral Resource estimate.
Next Steps
There are currently six active DD rigs focused on resource definition drilling in line with the company’s strategy to further increase the size and improve the classification of the 4.2Moz Mineral Resource.
Infill drilling within the pit shell will continue to be a key focus to enable the majority of the NEB Open Pit Mineral Resource to be upgraded to Indicated during 2023, which is crucial to support the Scoping Study mine plan and future permitting discussions with the Government of Guinea. The Scoping Study and ESG studies are on track to be completed by late 2023.
One DD rig is focused on deeper resource extension drilling of the current Underground Mineral Resource estimate of 335Koz @4.75g/t (Inferred). There is upside potential to continue extending the boundaries of mineralization defined by drilling to date, and up-dip towards the base of the optimised resource pit shell. The Underground Mineral Resource also remains open at depth below hole BNERD0113 (24m @5.5g/t from 850m, including 11m @10.3g/t from 852m).
Resource extension drilling is also planned around the northern resource pit shell which is open along strike and at depth, and at the BC deposit which is open at depth and in all directions.
PDI strengthened its exploration team in late 2022, including the appointment of a dedicated regional head geologist, to support an increasing focus on near- resource and regional exploration, where there is potential to discover other major gold deposits.
Geophysics surveys, including gradient array induced polarization surveys, have commenced on the northern Argo (AG) permit at targets located 15km-20km north of NEB along the highly prospective structural trend. RC drilling of select targets is planned to commence immediately following receipt of the geophysics results.
Additional near-resource exploration will continue at identified targets near the NEB and BC deposits. For further information please visit: https://www.predictivediscovery.com/
