Predictive Discovery has all the ingredients for West Africa’s next Tier-1 gold mine
Proactive Investors
Published Dec 21, 2023 12:56
Updated Dec 21, 2023 13:30
Predictive Discovery has all the ingredients for West Africa’s next Tier-1 gold mine
Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF) is making steady progress in advancing its key asset, the Tier-1 Bankan Gold Project in Guinea, which is the largest gold discovery in West Africa in a decade.
With a growing resource base of 5.38 million ounces (Moz) of gold (4.14Moz indicated and 1.24Moz inferred), PDI’s strategy is to sustainably bring Bankan into production whilst identifying and developing other deposits within this underexplored region.
PDI has launched a range of studies and programs, to progress the Bankan Gold Project towards development.
Baseline social, environmental and biodiversity studies are underway as part of an extensive Environmental & Social Impact Assessment (ESIA).
A pre-feasibility study (PFS) is currently in progress and due to be completed in Q1 2024, having been recently upgraded from a scoping study.
The PFS, together with the ESIA, are key documents in the permitting process for the project, and PDI is aiming to secure an Exploitation Permit in mid-2024.
The Bankan permits, which contain a 35-kilometre-long gold super-structure, are highly prospective for additional discoveries.
PDI is ramping up its near-resource and regional exploration efforts, with multiple targets being tested by drilling.
The company recently received promising gold results from exploration drilling across the Fouwagbe prospect near the Argo target, as well as the Sinkoumba prospect to the southwest and the area around the Northeast Bankan (NEB) and Bankan Creek (BC) gold deposits at Bankan.
PDI’s drilling results extended mineralisation at Fouwagbe along strike to the northeast and southwest, while the Sinkoumba results demonstrated continued prospectivity in the same anomalous corridor.
“PDI’s exploration is currently focused on drilling the numerous regional Argo targets and near-resource targets, both where we are making excellent progress,” Predictive Discovery managing director Andrew Pardey said.
“We have multiple high-priority targets at Argo from our exploration work so far, including the exciting Fouwagbe target, where initial follow-up drilling has delivered promising results which extend the mineralisation in both directions along strike from the initial discovery holes.
“Many existing and new targets are being drilled as part of this current program and positive results have also been reported today from Sinkoumba, which is in the same corridor as Fouwagbe.”
Indicative activities & timeline - driving towards ESIA & PFS completion in Q1 2024 and permitting in mid-2024.
“Near-resource targets 800W, SB and SEB continue to deliver positive results and, with the level of drilling now completed, we can see potential for these to become satellite deposits that could feed an operation centred around the NEB and BC deposits,” Pardey continued.
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“Initial drilling has also been encouraging at multiple other targets, and today’s results include the first holes at BC East which is now another area showing early promise.
“The Bankan Gold Project has enormous exploration upside and PDI will continue to systematically advance multiple exploration programs with the aim of discovering more ounces to grow the current 5.38-million-ounce resource.”
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Written By: Proactive Investors
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