Predictive Discovery Limited (“Predictive” or “Company”) is pleased to announce a JORC 2012-compliant Mineral Resource Estimate (‘MRE’) for the Company’s flagship Bankan Project (‘Bankan’ or ‘the Project’),
located in Guinea.
•Maiden Mineral Resource Estimate (MRE) of 3.65 million ounces for the Bankan Gold Project, located in Guinea’s Siguiri Basin.
• Total Mineral Resource of 72.8 million tonnes at 1.56g/t Au for 3.65 million ounces of gold.
TABLE 1: BANKAN PROJECT IN SITU MINERAL RESOURCE ESTIMATE
• Exceptional potential to grow mineral resources: substantial drilling programs have continued at Bankan since the MRE cut-off date, including:
• High-grade zone: presents significant potential for further growth at NE Bankan, now tested to 350-400m vertical depth. Extensional drilling to depth and along strike is ongoing.
• Regional: Aircore drilling 1.5km from NE Bankan intersected 28m @ 12.1g/t Au (BKAC0016) – more than 9 targets along the 35km-long Bankan structural trend to be tested.
• Bankan Creek: Drill coverage at depth is limited, with the deposit remaining open in all directions.
• Scoping study level metallurgical testwork has been extremely promising, with free milling gold, and 94-98% gold recoveries demonstrated across a broad representative sample.
• With $24 million in cash, the Company is targeting a substantial increase in its resource base in the Bankan Project from both step-out and deeper drilling of the NE Bankan and Bankan Creek deposits and from regional targets.
• The MRE has been prepared by independent consultants, CSA Global Mining Industry Consultants (‘CSA’) and is reported in accordance with the JORC Code (2012).
Commenting on the MRE, Managing Director Paul Roberts:
“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. After only 17 months from announcement
of the initial NE Bankan drill results1, this is just the beginning of the Bankan gold discovery story.
Our gold discovery success in such a small time period invites comparisons with the best gold deposit discovered in West Africa in the last decade – Fekola in Mali. Also announced 17 months after first discovery, the Fekola
MRE contained 3.9 Moz averaging 1.7g/t Au at a 0.5g/t Au cut-off grade and 3.1 Moz averaging 2.4g/t Au at a 1.0g/t Au cut-off grade3 . Today, Fekola’s 2021 production is projected to be 530,000 to 560,000oz at an AISC
of US$745-785/oz, with current quoted resources (excluding mine depletion since 2017) at Fekola itself and nearby deposits totalling 7.6Moz4
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.”
SOURCE: Predictive Discovery
DATE: 30 September, 2021