Predictive Discovery Finds ‘Strong’ Gold Prospects at Bankan (ASX:PDI)

Predictive Discovery Finds ‘Strong’ Gold Prospects at Bankan (ASX:PDI)

Predictive Discovery Ltd [ASX:PDI] has been doing some drilling in their Bankan project in Guinea in Africa.

Predictive is an ASX-listed gold explorer with a focus in West Africa. They hold about 800 squared kilometres of prospective landholdings across nine permits and authorisations in Guinea.

Today Predictive shared some of their drilling results

Predictive said they found strong and wide gold zones in Bankan Creek and NE Bankan. The two prospects are 3km apart.

The drilling program consisted of 21 reverse circulation (RC) holes at NE Bankan. The NE Bankan is a large gold anomalous zone which lies within the Saman and Kaninko permits, both 100%-owned by the company.

Initially, the company thought the strike extended for 500m, but after doing some drilling the company has extended the length of NE Balkan to 1.3km in length.

Some of the results included 26m at 21.9 grams per tonne of gold from 58m, including 6m at 68 g/t gold, 2m at 8.6 g/t gold, and 6m at 17.3 g/t gold.

Predictive also drilled one diamond hole at Bankan Creek which included 21m at 1g/t gold from 41m, plus 23m at 2g/t gold from 86m, and 23m at 2.4 g/t gold from 116m.

Predictive’s Managing Director Paul Roberts said:

The Company is very pleased that deeper drilling at Bankan Creek has now returned strong gold results from fresh rock. The recognition of hard rock gold mineralisation at depth just 3km away from the NE Bankan discovery brings significant potential to add more gold ounces to the planned 2021 Mineral Resource Estimate.

With these new RC results, the Company’s confidence that it has uncovered a large system of gold mineralised bodies within the Bankan Project continues to grow. Drilling is intersecting broad widths and the growth of the gold mineralised footprint through auger drilling has provided us additional scope for follow-up drilling at depth.

What could happen next?

The company is still conducting RC and diamond drilling, but they are looking to suspend it in early September to plan the next phase of drilling.

Even with the news, The PDI share price is down 3.5% today, with shares trading at 8.2 cents at time of writing.

Still, shares for Predictive Discovery have increased by over 1,000% this year so far.

Truth is, it’s not easy to pick gold explorers. A less risky way to get exposure to gold is by holding gold directly.

Check out Shae Russell’s — editor of The Daily Reckoning Australia — step-by-step guide on the ‘Best Way to Buy, Sell, and Store Gold’.

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Selva Freigedo,
For The Daily Reckoning Australia