Total
0
Shares
Predictive Discovery (ASX:PDI) - Managing Director, Paul Roberts - The Market Herald
Managing Director, Paul Roberts
Source: The Market Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • New results from Predictive Discovery's (PDI) Bankan Gold Project suggest mineralisation could comprise a longer, higher-grade zone than previously interpreted
  • The company has received the results from an additional 35 drill holes at the NE Bankan prospect within its Guinea-based project
  • Significant intercepts included 89 metres at 1.3 g/t gold from 140 metres
  • Managing Director Paul Roberts says the results show the mineralisation could extend towards the south at depth, forming a longer, higher-grade central zone
  • At present, three rigs are diamond drilling at NE Bankan to support a maiden resource estimate planned for Q3, 2021
  • Predictive shares have spiked 1.2 per cent to trade at 8.4 cents each

New results from Predictive Discovery's (PDI) Bankan Gold Project suggest mineralisation at the site could comprise a longer, higher-grade zone than previously interpreted.

The company recently received the results from an additional 35 diamond and reverse circulation (RC) holes drilled at the NE Bankan prospect within the Guinea-based project.

Significant intersections from BNERD0010 included 89 metres at 1.3 g/t gold from 140 metres, as well as seven metres at 3.1 g/t golf from 390 metres.

Another hole returned an intercept of 30 metres at 2.8 g/t gold from 188 metres to end of hole, which included two metres at 24.4 g/t gold from 188 metres.

Predictive Discovery Managing Director Paul Roberts said the discovery has expanded the deposit's resource potential.

"We are excited that two new excellent gold intercepts, 240m apart at depth, in NE Bankan are indicating that the gold mineralisation may extend towards the south at depth and form a longer higher-grade central zone than previously interpreted," he said.

"The oxide RC drilling program also continues to produce more shallow gold intercepts, which have the potential of contributing significantly towards low-cost gold production in the initial stages of a future open pit mining operation."

Ongoing drilling at NE Bankan

Meanwhile, both RC and diamond drilling are ongoing at the prospect with metallurgical test work also scheduled to begin this month.

At present, three rigs are diamond drilling to support a maiden resource estimate planned for delivery in the third quarter of 2021.

Further, two power auger rigs remain active at the Bankan Project to explore for gold mineralisation beneath significant artisanal workings on the Argo permit, roughly 20 kilometres north of NE Bankan.

The company reported a strong cash position of more than $9 million at the end of April.

Predictive Discovery shares have spiked 1.2 per cent this morning to trade at 8.4 cents at 1:05 pm AEST.

PDI by the numbers
More From The Market Herald
Mount Ridley Mines (ASX:MRD) posts June quarterly activities

" Mount Ridley Mines (ASX:MRD) posts June quarterly activities

Over the June quarter, Mount Ridley Mines (MRD) conducted a drilling program at its Weld Range West Iron Project in Western Australia.
Suvo Strategic Minerals (ASX:SUV) increases production over Q4 FY21

" Suvo Strategic Minerals (ASX:SUV) increases production over Q4 FY21

Suvo Strategic Minerals (SUV) reported an increase in production from its Pittong kaolin operations during the fourth quarter of FY21.
Golden Rim Resources (ASX:GMR) - Managing Director, Craig Mackay - The Market Herald

" Golden Rim Resources (ASX:GMR) expands Kada bedrock gold corridor

Gold Explorer Golden Rim Resources (GMR) has expanded its Kada Bedrock Gold Corridor in Guinea to 15 kilometres.
Aeris Resources (ASX:AIS) - Executive Chairman, André Labuschagne - The Market Herald

" Aeris Resources (ASX:AIS) ramps up production at Cracow and Tritton in Q4

Aeris Resources (AIS) announced increased production from both its Cracow and Tritton operations over the June quarter.