Predictive Discovery regional auger drilling highlights widespread high-grade gold at Bankan

Predictive Discovery Ltd (ASX:PDI) has enhanced the regional prospectivity of Bankan Gold Project in Guinea with new auger drilling results from Argo Regional Target AG1 returning 12 metres at 9.84 g/t gold from 4 metres and 16 metres at 2.02 g/t from 4 metres. In addition, encouraging rock chip results of up to 9.48 g/t from workings northeast of AG1 highlight an additional target on the Argo permit for follow-up power auger drilling.  At Bankan Creek North, auger drilling returned results of 18 metres at 0.24 g/t gold from 4 metres and 21 metres at 0.56 g/t from 4 metres.  Results were also received from NE Bankan core holes from the northern and southern extensions of the NE Bankan gold mineralised system, but outside the core gold mineralised zone. Results included:  25 metres at 0.51 g/t from 106 metres; and  21 metres at 1.27 g/t from 112 metres, including 15 metres at 1.59 g/t from 118 metres. “Good indications of widespread gold values” Predictive has made two significant gold discoveries within 18 months – at the NE Bankan and Bankan Creek prospects - through successful application of power auger drilling.  PDI managing director Paul Roberts said: “It is still very early days in our regional Bankan exploration program following up the recent aeromagnetic survey targets.  “We are very encouraged by these first results, which are providing good indications of widespread gold values in weathered bedrock (saprolite) and some high-grade gold at AG1 - the first of our new targets.” Bankan Project power auger drilling results overlaying RTP aeromagnetic data, interpreted targets and lineaments.  Follow up AC drilling The auger drilling continues to identify evidence of widespread gold in saprolite beneath shallow lateritic cover across the Bankan Project, providing numerous targets for follow-up by aircore (AC) drilling.  Roberts said: “We have already identified shallow gold mineralisation from auger drilling closer to NE Bankan and Bankan Creek, which we will follow up with AC drilling in the next month.  “Further AC drilling will be planned on the new northern targets over the next few months after we get a clearer picture from the ongoing auger drilling program.” Mineral resource estimate  While diamond drilling of depth extensions of the core gold mineralised zone at NE Bankan is ongoing with two rigs, the third drill rig has now moved to Bankan Creek for RC infill drilling on 40-metre spaced lines over a 320 metres strike length.  Results from this drilling will contribute to the maiden resource estimate for the Bankan Project.  In addition, metallurgical test-work is expected to begin this month with core samples being prepared on-site to be air freighted to Australia in the next week.  Trading halt  Notably, PDI was placed in a trading halt today, pending the company releasing an announcement around a capital raising. In its application to the ASX, PDI said: "The company is undertaking a capital raising and requests a trading halt of its securities to allow it time to formalise the raising." The securities will remain halted until the start of normal trading on Monday, May 17, 2021, or when an announcement is released to the market.