Predictive Discovery Limited - Positive Drilling Results at Bankan Gold Project
PDI (PDI) Share Update August 2024 Sunday 11th
Predictive Discovery Limited Announces Positive Drilling Results at Bankan Gold Project
Predictive Discovery Limited (ASX:PDI) has released additional drilling results from the NEB and BC areas of its Bankan Gold Project in Guinea, showing promising intercepts that could potentially increase the project's ore reserves.
Instant Summary:
- Positive intercepts recorded at Gbengbeden, BC, and 800W.
- Best results include 25m @ 1.51g/t from 21m, 13m @ 2.63g/t from 5m.
- Strong intercepts in the northern part of the SB target, including 19m @ 2.04g/t from 83m.
- Resource definition drilling programs completed at Gbengbeden, BC, and 800W.
- Additional exploration drilling planned at SB.
Drilling Results Overview
Predictive Discovery Limited (ASX:PDI) has announced additional drilling results from the NEB and BC areas of its 5.38Moz Bankan Gold Project in Guinea. The results are from resource definition drilling programs at Gbengbeden, BC, and 800W, aiming to further define current Mineral Resources and establish a new deposit at 800W, as well as additional exploration drilling at the SB target.
The Gbengbeden infill drilling recorded multiple positive intercepts in line with the opportunity identified in the Pre-Feasibility Study (PFS) to increase Ore Reserves. Best results include 25m @ 1.51g/t from 21m, 13m @ 2.63g/t from 5m, 19m @ 1.64g/t from 34m, 15m @ 1.61g/t from 135m, 4.3m @ 4.88g/t from 103m, 10m @ 1.87g/t from 92m, and 4m @ 3.99g/t.
Resource Definition and Exploration Drilling
Final holes from the current phase of infill drilling at BC and 800W delivered additional positive intercepts of 15m @ 1.23g/t from 69m (BC) and 6.1m @ 2.54g/t from 53m (800W). Strong intercepts were also recorded in the northern part of the SB target, including 19m @ 2.04g/t from 83m and 15m @ 8.05g/t from 105m, with the hole ending in mineralisation.
Final results from the Gbengbeden infill drilling program are due shortly. Additional exploration drilling is being planned at SB to follow up the encouraging recent results. Resource development drilling is planned to commence at SB later this half after completion of initial Argo resource development drilling at Fouwagbe and Sounsoun.
Management Comments
PDI’s Managing Director, Andrew Pardey, stated, 'Resource definition drilling in the NEB and BC area continues to deliver, with the positive Gbengbeden results reported today adding to recent strong results from BC and 800W. These programs have confirmed there is potential to upgrade existing Inferred Mineral Resources at BC and Gbengbeden and establish a maiden Mineral Resource at 800W later this year, in line with the aim to ultimately increase the current 3.05Moz Ore Reserve and 12-year mine life.'
'Pleasingly, the SB target has also recorded an outstanding intercept of 15m @ 8.05g/t, which occurred at the end of the hole in an underexplored area where there is limited drilling at depth. We look forward to following up this result with additional targeted drilling.'
The positive drilling results are likely to boost investor confidence in Predictive Discovery Limited, as they indicate the potential for increased ore reserves and extended mine life. The strong intercepts, particularly at Gbengbeden and SB, suggest that the company is on track to achieve its resource development goals. This could lead to a positive impact on the company's stock price as investors react to the promising results.
Investor Reaction:
Analysts are likely to view the drilling results positively, noting the potential for increased ore reserves and extended mine life. The strong intercepts and planned additional drilling at SB could further enhance investor sentiment. However, investors will be keenly watching for the final results from the Gbengbeden infill drilling program and the upcoming resource development drilling at SB.
Conclusion:
Investors should keep an eye on the final results from the Gbengbeden infill drilling program and the planned additional drilling at SB. These developments could significantly impact the company's resource estimates and stock performance. Predictive Discovery Limited's strategic approach to resource development and exploration will be crucial in maintaining investor confidence and achieving long-term growth.