Predictive's power auger drilling picks up new gold targets

PREDICTIVE Discovery has identified two new targets at its Bankan project in Guinea, with further RC and power auger drilling planned to begin next month following the wet season.
Predictive's power auger drilling picks up new gold targets Predictive's power auger drilling picks up new gold targets Predictive's power auger drilling picks up new gold targets Predictive's power auger drilling picks up new gold targets Predictive's power auger drilling picks up new gold targets

Predictive MD Paul Roberts

Nearly 10,000m of power auger drilling was recently completed, with results also expanding the NE Bankan gold mineralised footprint from 1.3km to 1.6km.

Results included 16m at 3.9 grams per tonne at NE Bankan, and 16m at 4.2gpt from a new regional target.

Significantly, the latter results "confirm that gold mineralisation is not purely focused with the NE Bankan gold zone".

Further results are awaited.

Predictive also made the point that the low gold values observed in the top 4m of two successful holes - which were immediately followed by continuous well mineralised gold zones - "suggest that there is a transported component in the shallow lateritic material, meaning that past surface soil sampling or mapping of artisanal gold sites has been ineffective in exploring the full extent of such gold mineralisation, and that substantially more systematic auger drilling will be required to fully define the area's potential".

Predictive started the current quarter with A$8.6 million cash.

The company's fortunes were turned last quarter with the discovery of NE Bankan.

Shares in Predictive closed Thursday down 3% at 7c, capitalising the company at $57.6 million.