Predictive Shares Are Soaring Today after Releasing Metallurgical Test Results (ASX:PDI)]

Predictive Shares Are Soaring Today after Releasing Metallurgical Test Results (ASX:PDI)]

The Discovery Ltd [ASX:PDI] shares are up a whopping 13% today at time of writing after announcing they’ve completed their initial metallurgical tests at Bankan Gold Project.

Located in Guinea’s Siguiri Basin, Bankan is Predictive’s flagship project. The Bankan project has two deposits, Bankan Creek and NE Bankan.

For the metallurgical test work, PDI took 11 samples from both the NE Bankan and Bankan Creek deposits that weighed a total of 305kg.

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And the results are in…

Predictive said their initial metallurgical test works produced ‘excellent’ gold recoveries. They confirmed that Bankan’s gold mineralisation is free milling, with ‘high gold recoveries’ ranging between 94.2% and 98.5%.

They also found ‘very good’ leaching kinetics with no less than 94% extractable gold dissolution within 24 hours.

Gravity gold recoveries results ranged from 13.1–37%, with values from the tonalite and tonalite-skarn ore going from 19.6–37%.

Predictive also said the ore is ‘relatively hard’. Its breakage characteristics indicate they’ll need either a three-stage crushing and ball mill circuit, a two-stage crushing and High-Pressure Grinding Roll (HPGR) before milling, or a Semi Autogenous Ball Mill Crushing Circuit (SABC).

Predictive Managing Director Paul Roberts said this on the announcement:

This is a high impact announcement and a major de-risking event for the Bankan Project. To have achieved excellent gold recoveries and clear indications that the deposit can provide free milling ore to a conventional mill is a critical step forward.

Next up: The mineral resource estimate

The company will be announcing the maiden mineral resource estimate for the two Bankan deposits which they intend to do at the end of this month.

PDI also confirmed it is still exploring the area to expand their gold discoveries at both depth and along the 35km structure.

At time of writing, Predictive Discovery’s share price is trading at 13 cents, up 13% from yesterday’s close at 11.5 cents.

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Selva Freigedo

Editor, The Daily Reckoning

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