Australian exploration firm Predictive Discovery has agreed $55 million in funding from institutional investors through a share placement to develop its Bankan gold project in Guinea, it said on Monday.
Predictive Discovery is entering a new chapter as the company looks to expand its Bankan once in a decade gold discovery in Guinea and build West Africa’s next tier one gold mine.
Andrew Pardey, Managing Director, comments:
“These excellent results from our infill and grade control drilling program at NE Bankan further underpin the consistency and extent of this extraordinary orebody. These results are from within the optimised resource pit shell and are aimed at providing further certainty of the tonnes and grade ahead of ultimately building and mining the NE Bankan deposit. Encouragingly, we continue to see strong continuity in the high-grade plunging shoot in the middle to lower parts of the optimised pit shell.
“Completion of the RC grade control program has generated valuable information for future drilling and resource modelling purposes, including a target spacing of 80 m x 40 m to achieve the indicated category.
“Drilling is continuing to target resource extension and infill drilling, including in the area down-plunge of the initial underground resource where a number of deeper holes returned high-grade intercepts. With eight drill rigs currently operating on site, we are well placed to update the mineral resource estimate during the first quarter of 2023, including a partial upgrade to Indicated and an extension of the initial high-grade underground mineral resource.”