Predictive Discovery (ASX:PDI) uncovers high-grade gold at Bankan, Guinea

• Predictive Discovery (PDI) uncovers high-grade gold from its latest drilling work at its Bankan gold project in Guinea, West Africa
• The company says the results are in line with its strategy of adding to and improving the quality of the current resource at the project
• The company says diamond drilling in the area demonstrates further continuity of gold mineralisation and grade outside of the current resource
• Meanwhile, PDI says it will use the results from reverse circulation drilling to guide the drill spacing required to convert the current inferred resource into the indicated category
• Shares in Predictive Discovery are trading 9.09 per cent higher at 18 cents at 1:39 pm AEST

Predictive Discovery (PDI) has uncovered high-grade gold from its latest drilling work at its Bankan gold project in Guinea, West Africa.

The new results come from diamond drilling (DD) and reverse circulation (RC) drilling at the North East Bankan deposit.

The company said the results were in line with its strategy of adding to and improving the quality of the current resource at the project.

It noted diamond drilling demonstrated further continuity of gold mineralisation and grade outside of the current resource.

One infill diamond drill hole returned high-grade gold more than 200 metres below the current resource, intersecting 30.52 metres at 3.55 grams per tonne (g/t) gold from 723 metres, including nine metres at 7.98 g/t gold.

Meanwhile, PDI said the RC results would be used to guide the drill spacing required to convert the current inferred resource into the higher-confidence indicated category.

Additionally, the company reported results from 1074 aircore and power auger holes within three kilometres of the project.

PDI said these results identified further shallow and near-term deposit targets.

Managing Director Andrew Pardey said the company’s understanding of the project had accelerated “substantially”, with ten drill rigs now active on the site.

“Results to date correlate with our geological model of the orebodies discovered to date, whether it be the shallow oxide or the high-grade zone extending well below the current NE Bankan optimised resource pit shell,” Mr Pardey said.

“We remain on track to deliver on the 60,000-metre RC and DD campaigns and have commenced the work on the detailed scoping study due to be completed in the second half of 2023.”

Shares in Predictive Discovery were trading 9.09 per cent higher at 18 cents at 1:39 pm AEST.