Join our daily newsletter At The Bell to receive exclusive market insights
- Gold explorer Predictive Discovery (PDI) has received further positive assay results from the Bankan Creek prospect at the Kaninko project in Guinea
- The results come from the final five aircore and reverse circulation drill holes totalling 147 metres across the northern traverse
- The best of the new results included an intercept of 22 metres at 1.06 grams per tonne (g/t) gold, including 12 metres at 1.69g/t.
- The company will now begin planning a diamond drilling program to further explore the resource at depth
- Predictive’s focus remains on the NE Bankan prospect, where several high-grade gold intercepts there have revealed more promise than Bankan
- Predictive Discovery is in a trading halt pending the announcement of a capital raise – shares last traded at a price of 7 cents per share
Gold explorer Predictive Discovery (PDI) has received further positive assay results from the Bankan Creek prospect at the Kaninko project in Guinea.
Final results
The results come from the final five aircore and reverse circulation drill holes totalling 147 metres across the northern traverse. These results add to the previously reported 18 holes drilled at the site.
The best of the new results came from a hole which penetrated through the weathered saprolite and into the fresh rock below. The mineralisation straddled the two zones, with a best intercept of 22 metres at 1.06 grams per tonne (g/t) gold, beginning from a depth of 10 metres. This included 12 metres at 1.69g/t.
The drilling program did encounter some difficulties owing to a high water table at the site, which meant 18 per cent of holes returned moist or wet samples. Future drilling will be carried out with a higher-pressure reverse circulation rig or a diamond rig to ensure sample quality.
Only two other holes had positive results. The drilling stopped at drill refusal, with a highlight of 7 metres at 0.57g/t from a depth of eight metres.
Next steps
When tallied with the results from the other 18 holes from the current drill program, there is some promise at Bankan.
The company will now begin planning a diamond drilling program to further explore the resource at depth.
Predictive’s focus, however, remains on the NE Bankan prospect, where several high-grade gold intercepts there have revealed more promise than Bankan.
Further infill and expansion drilling at NE Bankan will aim to map the underlying geology and seek more mineralisation, which remains open in all directions and at depth.
Overall there appears to be a considerable promise at the greenfields Kaninko project. It seems Predictive Discovery may be living up to its name.
Predictive Discovery is in a trading halt pending the announcement of a capital raise – shares last traded at a price of 7 cents per share.
