Sub-Sahara Mining & Industrial Journal
Mining

Predictive Discovery rises on outstanding Guinea drill hit

Predictive Discovery rises on outstanding Guinea drill hit
ASX-listed Predictive Discovery has reported another outstanding drill result from its NE Bankan discovery in Guinea where a 3.65 million-ounce resource was estimated in September last year.

The 41.5m grading 5.2 grams per tonne gold from 598m reported today is more than 250m down-dip from the resource.

Predictive said results demonstrated the NE Bankan deposit hosted continuous ore-grade mineralisation for 820m down-dip from surface on the main shear contact, to a vertical depth of 500m below surface.

Four diamond core drill rigs are expected to be operating on site in the near term with an updated resource estimate due in September.

Analysts at capital markets firm Argonaut are among those impressed with what they have been seeing.

“The technical credentials of this project are near unparalleled (with) key remaining risks (being) environmental and political,” Argonaut said.

Predictive’s ground takes in the Outer Buffer Zone of the Upper Niger National Park.

Earlier this week the company said it had “initiated a rapid ecological assessment to enhance the understanding of habitat surrounding the Bankan project and commence the necessary mitigations strategies that will be embedded within the project design”.

Predictive started the quarter with A$12.9 million cash.

Shares in Predictive closed 10.8% higher at 20.5c in Australia, capitalising the company at $282 million.

Predictive shares were about 8c 12 months ago and have a year-high of 29.5c.

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