ASX-listed Predictive Discovery has announced an updated Joint Ore Reserves Committee -compliant mineral resource estimate (MRE) statement for its flagship Bankan project in Guinea.
The NE Bankan deposit’s total mineral resource is now 72.3-million tonnes at 1.65 g/t gold for 3.9-million ounces of gold.
The mineral resource includes initial high-grade underground resource directly below the optimised pit shell of 283 938 t at 4.85 g/t for 44 000 oz.
Initial metallurgical test work for the deeper high-grade zone within the optimised pit shell completed leaching within 24 hours for an average recovery of 92% and results of 30% to 50% gravity recovery.
The deepest diamond hole (BNERD0113) sits outside the reported mineral resource area, currently as unclassified material, which Predictive says provides potential for further resource growth.
NE Bankan remains open downdip with the deepest hole BNERD0113 returning 24 m at 5.5 g/t gold from 850 m, with infill and step out drilling expected to convert this result into resource.
Predictive has completed multi-element and geochemical analysis of the NE Bankan deposit, with the NE Bankan signature now understood and to be used regionally to look for similar NE Bankan-style discoveries.
The updated resource comprises 83 reverse circulation/diamond drill (RCDD) and 134 reverse circulation (RC) holes for a total of 52 316.8 meters of drilling.
Currently, nine drill rigs are undertaking further resource drilling, grade control and near-deposit exploration across the Bankan project area.
The mineral resource estimate has been prepared by independent consultants, CSA Global Mining Industry Consultants.
Predictive says it is well funded with $57-million in cash.
“Today’s results confirm what we have believed since the Discovery Hole in April 2020 – Bankan is one of the most significant gold discoveries ever made in West Africa and may possibly become the region’s next tier-one gold mine,” acclaims MD Andrew Pardey.
“Over the following months and supported by our healthy A$57-million cash balance, we will continue to drill the current deposit to convert the resource category from inferred to indicated, undertake further resource drilling at Bankan Creek and develop our regional targets with the goal of finding more NE Bankan-style deposits along our 35 km-long structural corridor,” he says.