Predictive Discovery Unveils High-Grade Drilling and Permitting Breakthrough at Bankan
Predictive Discovery Limited has reported significant progress at its Bankan Gold Project in Guinea, highlighted by strong high-grade drilling results and the crucial environmental compliance certification that paves the way for mining licence application.
- Over 10,000m of drilling completed at Fouwagbe, Sounsoun, and 800W targets
- High-grade intercepts include 16m at 11.16g/t Au and 6m at 19.98g/t Au
- Environmental and Social Impact Assessment approved, enabling Exploitation Licence application
- Definitive Feasibility Study on track for completion in second half of 2025
- Company holds $28.8 million cash with no debt as at December 2024
Robust Drilling Campaign Strengthens Resource Potential
Predictive Discovery Limited (ASX:PDI) has delivered a compelling update on its flagship Bankan Gold Project in Guinea, West Africa, following an intensive December 2024 quarter. The company completed more than 10,000 metres of drilling across key targets including Fouwagbe, Sounsoun, and 800W, advancing these prospects into the resource definition phase ahead of maiden Mineral Resource estimates expected in the first quarter of 2025.
Noteworthy drill results at Fouwagbe revealed multiple high-grade gold intercepts, such as 16 metres at 11.16 grams per tonne (g/t) from 159 metres, including a spectacular 1 metre at 148 g/t. Similarly, Sounsoun drilling confirmed mineralisation along an east-west trending shear zone, with standout intercepts like 6 metres at 19.98 g/t from 13 metres, underscoring the project's potential to host significant gold resources.
Expanding Mineralisation and Resource Definition
At the 800W target, located near the NEB deposit, drilling extended mineralisation along strike to the northeast, with intercepts such as 5 metres at 7.98 g/t from 20 metres. The zone remains open for further expansion, particularly towards the Gbengbeden deposit, suggesting upside potential beyond current boundaries. These results support the planned maiden Mineral Resource estimate for 800W, complementing the broader Bankan resource base.
Permitting Milestone Unlocks Development Pathway
A pivotal development during the quarter was the approval of the Environmental and Social Impact Assessment (ESIA) by Guinea's Ministry of Environment and Sustainable Development (MEDD). This approval included the issuance of the Certificate of Environmental Compliance (ECC), a critical regulatory step that enables Predictive Discovery to formally apply for the Bankan Exploitation Licence. The company has committed to relinquishing permit areas within the Buffer Zone of the Upper Niger National Park, ensuring no mining activity occurs in this protected area, which reflects a strong environmental stewardship approach.
Engagement with local communities continues, with ongoing support for the Bankan Primary School through infrastructure projects and educational assistance, reinforcing the company’s social license to operate.
Definitive Feasibility Study Progressing on Schedule
Parallel to exploration and permitting advances, the Definitive Feasibility Study (DFS) is progressing as planned, targeting completion in the second half of 2025. Key technical workstreams, including geotechnical and hydrogeological drilling and metallurgical testing, are largely complete. The company has also received expressions of interest for mining contracts, signaling growing operational readiness.
Strong Financial Position Supports Development
Financially, Predictive Discovery remains well-positioned with $28.8 million in cash and no debt as of 31 December 2024. The company invested $11.3 million in exploration and evaluation activities during the quarter, reflecting its commitment to advancing the Bankan Project. Director fees and salaries accounted for approximately $400,000 of payments to related parties during this period.
Looking ahead, the March 2025 quarter will focus on further resource definition drilling, progressing maiden Mineral Resource estimates, advancing permitting applications, and continuing DFS workstreams, all critical steps toward unlocking the full value of the Bankan Gold Project.
Bottom Line?
With high-grade drilling success and key environmental approvals secured, Predictive Discovery is poised to transform Bankan from exploration to development, but upcoming resource estimates will be the next critical test.
Questions in the middle?
- Will the maiden Mineral Resource estimates confirm the scale and grade suggested by recent drilling?
- How will the relinquishment of permits within the Buffer Zone affect overall project footprint and resource potential?
- What are the timelines and risks associated with securing the Exploitation Licence following ESIA approval?
