Join our daily newsletter At The Bell to receive exclusive market insights
- Predictive Discovery (PDI) releases a JORC 2012 mineral resource estimate (MRE) for its flagship Bankan Project in Guinea
- To calculate the MRE, the company used data from 147 reverse circulation holes, 28 diamond holes and 47 aircore holes
- The total mineral resource reads 72.8 million tonnes at 1.56 grams of gold per tonne (g/t) for 3.65 million ounces of gold
- It was prepared by consultants CSA Global Mining Industry Consultants and comes 17 months since the discovery drillholes were reported
- Shares in Predictive are up 14.3 per cent, trading at 20 cents at 11:43 am AEST
Predictive Discovery (PDI) has released a JORC 2012 mineral resource estimate (MRE) for its flagship Bankan Project in Guinea.
The Bankan Project covers an area of 356 square kilometres and lies 550 kilometres from Guinea’s capital Conakry.
It lies in the southwestern portion of the Siguiri Basin which is a component of the Proterozoic Birimian orogenic belt.
The Siguiri Basin consists of turbiditic sediments with lesser mafic volcanics and minor felsic intrusives.
To calculate the MRE, Predictive used data from 147 reverse circulation (RC) holes, 28 diamond holes and 47 aircore holes drilled across NE Bankan and Bankan Creek.
The total mineral resource reads 72.8 million tonnes at 1.56 grams of gold per tonne (g/t) for 3.65 million ounces of gold.
Additionally, it was prepared by independent consultants CSA Global Mining Industry Consultants and comes 17 months since the discovery of drillholes was reported.
Managing Director Paul Roberts is excited by the release of the MRE.
“We are delighted by the scale of this initial mineral resource estimate which reflects excellent continuity of mineralisation and has been generated from 32,700 drilling metres,” Mr Roberts said.
“After only 17 months from announcement of the initial NE Bankan drill results, this is just the beginning of the Bankan gold discovery story.”
“We are very well-funded to accelerate a drilling program to grow resources in both NE Bankan and Bankan Creek, increase drill density to increase confidence, and to quickly advance earlier stage regional prospects through to discovery and resource definition.”
Shares in Predictive were up 14.3 per cent, trading at 20 cents at 11:43 am AEST.
