Predictive Discovery (ASX:PDI) has announced a 3.65 million ounce inferred maiden mineral resource for its flagship Bankan Project in Guinea, in a result that is drawing comparisons to the famed 3.9 million ounce Fekola gold discovery in Mali.
The company has claimed that the discovery is one of the most significant in West Africa over the past decade, with the MRE delivered just 17 months after initial drill results.
“We are delighted by the scale of this initial Mineral Resource Estimate which reflects excellent continuity of mineralisation”
Speaking on the news, Predictive Discovery Managing Director Paul Roberts said: “We are delighted by the scale of this initial Mineral Resource Estimate which reflects excellent continuity of mineralisation and has been generated from 32,700 drilling metres. After only 17 months from announcement of the initial NE Bankan drill results, this is just the beginning of the Bankan gold discovery story.
Our gold discovery success in such a small time period invites comparisons with the best gold deposit discovered in West Africa in the last decade – Fekola in Mali. Also announced 17 months after first discovery, the Fekola MRE contained 3.9 Moz averaging 1.7g/t Au at a 0.5g/t Au cut-off grade and 3.1 Moz averaging 2.4g/t Au at a 1.0g/t Au cut-off grade. Today, Fekola’s 2021 production is projected to be 530,000 to 560,000oz at an AISC of US$745-785/oz, with current quoted resources (excluding mine depletion since 2017) at Fekola itself and 4 nearby deposits totalling 7.6Moz.”
PDI reports that there is ‘exceptional’ potential to increase the scale of the resource, with drilling continuing to deliver results post MRE cut-off date at NE Bankan, Bankan Creek, and regional targets, funded by $24 million in cash reserves.
The company also notes that the project contains a ‘robust’ ore body, with a high retention of contained gold ounces as the cut-off grade is lifted. Metallurgical testwork has also delivered positive results, with free-milling gold, and 94-98% gold recoveries demonstrated across a broad representative sample.