Total
0
Shares
Predictive Discovery (ASX:PDI) - Managing Director, Paul Roberts - The Market Herald
Managing Director, Paul Roberts
Source: The Market Herald
  • Predictive Discovery (PDI) has released initial results from reverse circulation (RC) drilling at its Kaninko Permit in Guinea
  • It shows wider gold mineralisation has been found at the North East (NE) Bankan section, with best results of 15 metres at 3.42 grams per tonne of gold from surface, including 4 metres at 9.33 grams per tonne of gold
  • The results also reveal several of the drill holes ended in the transition from weathered to fresh rock, which means further gold grades are possible
  • Drilling at the NE Bankan site continues and more samples are being analysed in the lab, with results to be released in the next few weeks
  • Despite the news, shares in Predictive Discovery are trading slightly lower, down 9.3 per cent at 7.8 cents per share

Predictive Discovery (PDI) has released initial results from reverse circulation (RC) drilling at its Kaninko Permit, showing wider gold mineralisation at the North East (NE) Bankan section.

The project, located in Guinea, is 100 per cent owned by Predictive Discovery and sits on an underexplored part of the West African Birimian gold belt.

The first batch of assay results from 12 holes, part of a wider RC drill program at the site which began in May, showed best results of 15 metres at 3.42 grams per tonne of gold from surface, including 4 metres at 9.33 grams per tonne of gold.

It also showed a strong result of 33 metres at 1.72 grames per tonne of gold from 67 metres, including 1 metre at 22.1 grames per tonne of gold.

Predictive Discovery Managing Director, Paul Roberts, labelled the initial results as encouraging.

"These initial RC drill results have provided further evidence of shallow and very broad zones of oxide gold mineralisation within the 1.3 kilometre long, broad power auger gold anomaly defined in May and June," he said.

The results also revealed several of the drill holes ended in the transition from weathered to fresh rock, which means further gold grades are possible.

"The Company is further encouraged by continuation of the mineralisation to at least 76m vertical depth in the transition from weathered to fresh rock and remaining open at depth," Paul said.

An additional 36 samples, from RC drilling and diamond drilling, are currently being analysed in the lab with results to be released in the next few weeks.

While drilling at the NE Bankan site continues, with a pause planned in late August or September to assess the results from the program.

Importantly, the drilling program is well funded, as Predictive Discovery recently raised more than $9 million in capital.

The company also said today that a maiden resource estimate for the project will be completed by mid next year.

Shares in Predictive Discovery are trading slightly down despite today's news, as shareholders appear divided by the results.

Shares in the company are trading for 7.7 cents each, down 10.5 per cent, at 12.15 pm AEST.


Subscribe


PDI by the numbers
More From The Market Herald
West African Resources (ASX:WAF) unearths “extensive visible gold”

" West African Resources (ASX:WAF) unearths “extensive visible gold”

West African Resources (WAF) has unearthed “extensive visible gold” beneath reserves at the M1 South deposit within its Burkinabe Sanbrado Gold Project.
Siren Gold (ASX:SNG) drops first batch of assays since IPO

" Astro Resources (ASX:ARO) down 20pc despite “encouraging” mapping results

Mining company, Astro Resources (ARO) has reported the mapping results from its Needles gold project in Nevada, USA.
Megado Gold (ASX:MEG) - CEO & Managing Director, Michael Gumbley - The Market Herald

" Megado Gold (ASX:MEG) begins maiden drill program in Ethiopia

Megado Gold (MEG) has begun a maiden drill program at its Babicho Gold Project in southern Ethiopia.
Ausmex Mining Group’s (ASX:AMG) Mt Freda yields strong assays

" Ausmex Mining Group’s (ASX:AMG) Mt Freda yields strong assays

Ausmex Mining Group (AMG) has received assays from three out of five holes completed at its Mt Freda Project in Queensland.