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PREDICTIVE DISCOVERY LIMITED Capital/Financing Update 2024
65537_rns_2024-08-11_1254fad6-6749-4cba-9756-73cff06706aa.pdf
Capital/Financing Update
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12 August 2024
NEB AND BC AREA DRILLING PROGRAMS CONTINUE TO DELIVER
Predictive Discovery Limited (ASX:PDI) ("PDI" or the "Company") is pleased to announce additional drilling results from the NEB and BC area of its 5.38Moz1 Bankan Gold Project in Guinea. Results in this announcement are from resource definition drilling programs at Gbengbeden, BC and 800W, which are aiming to further define current Mineral Resources and establish a new deposit at 800W, as well as additional exploration drilling at the SB target.
HIGHLIGHTS
- Gbengbeden infill drilling records multiple positive intercepts in line with the opportunity identified in the Pre-Feasibility Study ("PFS") to increase Ore Reserves. Best results include 25m @ 1.51g/t from 21m, 13m @ 2.63g/t from 5m, 19m @ 1.64g/t from 34m, 15m @ 1.61g/t from 135m, 4.3m @ 4.88g/t from 103m, 10m @ 1.87g/t from 92m and 4m @ 3.99g/t.
- Final holes from the current phase of infill drilling at BC and 800W deliver additional positive intercepts of 15m @ 1.23g/t from 69m (BC) and 6.1m @ 2.54g/t from 53m (800W).
- Strong intercepts in the northern part of the SB target, including 19m @ 2.04g/t from 83m and 15m @ 8.05g/t from 105m, with the hole ending in mineralisation.
- Final results from the Gbengbeden infill drilling program are due shortly. Additional exploration drilling is being planned at SB to follow up the encouraging recent results. Resource development drilling is planned to commence at SB later this half after completion of initial Argo resource development drilling at Fouwagbe and Sounsoun.
PDI's Managing Director, Andrew Pardey, said:
"Resource definition drilling in the NEB and BC area continues to deliver, with the positive Gbengbeden results reported today adding to recent strong results from BC and 800W. These programs have confirmed there is potential to upgrade existing Inferred Mineral Resources at BC and Gbengbeden and establish a maiden Mineral Resource at 800W later this year, in line with the aim to ultimately increase the current 3.05Moz Ore Reserve1 and 12-year mine life."
"Pleasingly, the SB target has also recorded an outstanding intercept of 15m @ 8.05g/t, which occurred at the end of the hole in an underexplored area where there is limited drilling at depth. We look forward to following up this result with additional targeted drilling."
1 Refer to Compliance Statement at the end of this announcement.
Predictive Discovery Limited ABN 11 127 171 877 Suite 8, 110 Hay Street, Subiaco WA 6008 T +61 8 9216 1020
SUMMARY OF DRILLING RESULTS
Results in this announcement are from resource definition drilling at Gbengbeden, BC and 800W, and exploration drilling at the SB target. In total, results for 29 holes for 3,733m of diamond ("DD") and reverse circulation ("RC") drilling are reported as shown in Table 1 and Figure 1.
| Location | Drill type | Holes | Metres |
|---|---|---|---|
| DD | 3 | 544 | |
| Gbengbeden(Resource Definition) | RC | 14 | 1,595 |
| Total | 17 | 2,139 | |
| BC | DD | 2 | 364 |
| (Resource Definition) | Total | 2 | 364 |
| DD | 2 | 241 | |
| 800W | RC | 2 | 220 |
| (Resource Definition) | Total | 4 | 461 |
| DD | 1 | 171 | |
| SB | RC | 5 | 600 |
| (Exploration) | Total | 6 | 771 |
| Total | 29 | 3,733 |
Table 1: Summary of drill holes reported in this announcement
Figure 1: Summary of results reported in this announcement
GBENGBEDEN DRILLING RESULTS
Gbengbeden is located approximately 250m north of the main NEB deposit. It hosts an open pit Mineral Resource of 2.4Mt @ 0.87g/t for 69Koz and an Ore Reserve of 0.5Mt @ 0.81g/t for 12Koz, which are included within the broader NEB estimates. 2
Similar to the BC deposit, an opportunity was identified in the PFS to potentially increase Ore Reserves at Gbengbeden through additional infill drilling. Pit optimisation sensitivities highlighted that the optimal pit shell would expand if Inferred Mineral Resources were also included in the optimisation runs, and therefore, upgrading these Inferred Mineral Resources to Indicated could increase Ore Reserves.
A resource definition drilling program has been completed at Gbengbeden, with a total of 4 DD holes and 15 RC holes drilled. This announcement includes results from 3 DD holes and 14 RC holes for a total of 2,139m drilled. Assays for the two remaining holes are pending.
Figure 2: Gbengbeden drill plan
2 Refer to Compliance Statement at the end of this announcement. Gbengbeden estimates are shown in ASX announcements "PFS Delivers Attractive Financials & 3.05Moz Ore Reserve" (15 April 2024) and "Bankan Mineral Resource Increases to 5.38Moz" (7 August 2023).
Gbengbeden Cross Section A-A'
Two infill RC holes drilled in the southern part of the deposit encountered mineralisation at the base of, and below the PFS pit.
BNERC0570 recorded a positive intercept of 25m @ 1.51g/t from 21m at the base of the PFS pit within saprolite. Further down the hole, several significant intercepts were recorded in tonalite, including 5m @ 1.11g/t from 53m, 11m @ 0.81g/t from 64m and 6m @ 1.43g/t from 85m.
BNERC0569 intercepted 15m @ 1.61g/t from 135m associated with a shear zone at the base of the resource pit shell. Several other significant intercepts were recorded higher up the hole.
Figure 3: Gbengbeden cross section A-A'
Gbengbeden Cross Section B-B'
Three holes were drilled on this section, located in the middle of the deposit. BNEDD0264 recorded several significant intercepts within the Inferred Mineral Resource envelope below the PFS pit design, including best results of 7m @ 1.13g/t from 80m and 4.3m @ 4.88g/t from 103m.
BNERC0572 recorded 8m @ 1.86g/t from 78m, 10m @ 1.87g/t from 92m and 4m @ 0.70g/t from 111m below the PFS pit, as well as 7m @ 1.04g/t from 121m below the resource pit shell. Higher up the hole, 7m @ 0.71g/t from 9m was recorded within the PFS pit.
BNERC0571 intercepted 3m @ 0.54g/t from 5m and 6m @ 1.16g/t from 11m within the eastern edge of the PFS pit.
Figure 4: Gbengbeden cross section B-B'
Gbengbeden Cross Section C-C'
Also located in the middle of the deposit, two DD and three RC holes were drilled to further infill and extend the drill pattern. Multiple significant intercepts were recorded below the PFS pit, including:
- BNEDD0266: 19m @ 1.64g/t from 34m 11m @ 0.74g/t from 84m
- BNERC0573 7m @ 1.35g/t from 32m 4m @ 1.52g/t from 70m 4m @ 3.99g/t from 84m
- BNERC0575: 11m @ 0.83g/t from 20m
- BNERC0574A: 5m @ 1.26g/t from 70m
Figure 5: Gbengbeden cross section C-C'
BC DRILLING RESULTS
As previously disclosed, a resource definition drilling program has been completed at BC to follow up the opportunity identified in the PFS to potentially increase Ore Reserves by upgrading Inferred Mineral Resources below the PFS pit design to the Indicated category.
Results from the final two DD holes have now been received. Towards the southern end of the deposit, BCKDD0053 encountered mineralisation just below the PFS pit design, with best intercepts of 15m @ 1.23g/t from 69m and 3m @ 1.54g/t from 103m.
BCKDD0054, located on the north-western edge of the deposit, recorded significant intercepts of 1.3m @ 1.26g/t from 42.7m, 6m @ 0.79g/t from 53m and 1m @ 1.72g/t from 148m.
Figure 6: BC drill plan
Figure 7: BC cross section A-A'
800W DRILLING RESULTS
The 800W target is located approximately 400m north-west of the NEB resource pit shell on the northern edge of the ENE-WSW trending structure between NEB and Gbengbeden.
As previously announced, a 26-hole resource definition drilling program has been completed, targeting shallow mineralisation identified by previous drilling. Results have been received for the final four holes of this program, as shown in Figure 8 below.
The best intercepts from these holes were recorded in BNEDD0263 in the central part of the target area, including 4m @ 1.38g/t from 29m and 6.1m @ 2.54g/t from 53m. BNEDD0265 on the western edge of the mineralisation recorded a best intercept of 3m @ 1.18g/t from 19m. Two RC holes recorded minor significant intercepts in the northern part of the target area.
800W is open to the north-east and south-west, and additional drilling is being considered to test for extensions to the mineralisation.
Figure 8: 800W drill plan
SB DRILLING RESULTS
The SB target area is located south of the main NEB deposit within the broad multi-kilometre N-S deformation corridor which hosts NEB and extends north to the Argo permit. Recent drilling programs have returned positive results, and a resource definition drilling program is planned for the second half of 2024.
Exploration drilling is also ongoing in the northern part of the target area. BNERC0585 recorded excellent intercepts of 19m @ 2.04g/t from 83m and 15m @ 8.05g/t from 105m (including 2m @ 11.69g/t from 109m and 7m @ 11.34g/t from 113m). These intercepts have formed at and below the contact between the metasediments and tonalite, and encouragingly, the hole ended in mineralisation (refer to Figure 10). Further drilling is being planned to follow up these results.
Additional drilling to follow-up the positive recent aircore drilling results (19m @ 1.22g/t and 6m @ 0.75g/t from 54m in BKAC0634 and 9m @ 1.28g/t from 10m in BKAC06353 ) returned no significant intercepts.
Figure 9: SB drill plan
Figure 10: SB cross section A-A'
DRILLING PROGRAMS AND NEXT STEPS
Drilling programs are planned for the second half of 2024, which are focused on further upgrading the current 5.38Moz Mineral Resource4 to support the Definitive Feasibility Study ("DFS") and increase Ore Reserves, and further exploration to maintain a healthy pipeline of targets.
Resource definition drilling programs have been completed at BC, 800W and Gbengbeden, with final results from Gbengbeden pending. Further drilling is being considered at 800W to test for extensions of the mineralisation along strike to the north-east and south-west. Figure 11: Bankan Project drilling programs
Additional exploration drilling is being planned at SB to follow up recent encouraging results in the north of the target area. Resource development drilling is planned to commence at SB later this half.
Resource development drilling is now underway on the Argo permit, where the initial aim is to define maiden Mineral Resources at the Fouwagbe and Sounsoun targets.
Regional exploration drilling programs will continue at Argo and have also commenced to the south towards NEB at select targets on the Bokoro permit.
- END -
This announcement is authorised for release by PDI Managing Director, Andrew Pardey.
For further information visit our website at www.predictivediscovery.com or contact:
Investor Enquiries Media Enquiries
Brad Milne Bobby Morse/George Pope Corporate Development Manager Buchanan E: [email protected] E: [email protected] P: +61 8 9216 1000 P: +44 (0) 20 7466 5000
4 Refer to Compliance Statement at the end of this announcement.
ABOUT PREDICTIVE DISCOVERY
PDI's strategy is to identify and develop gold deposits within the Siguiri Basin, Guinea. The Company's key asset is the Tier -1 Bankan Gold Project. A Mineral Resource of 5.38Moz has been defined to date at the NEB (4.89Moz) and BC (487Koz) deposits,6F 5 making Bankan the largest gold discovery in West Africa in a decade.
PDI recently completed a Pre-Feasibility Study ("PFS") and Environmental & Social Impact Assessment, which are crucial steps to secure a mining permit for the Project. The PFS outlined a 269kozpa operation over 12 years, with a maiden Ore Reserve of 3.05Moz and strong financials. 5
The Bankan Project is highly prospective for additional discoveries. PDI is also exploring targets near the NEB and BC deposits, and regionally to the north along the 35km gold super structure which runs through the permits. Figure 12: Bankan Project deposits and targets
COMPETENT PERSONS STATEMENT
The Exploration Results reported herein for the NEB and BC area are based on information compiled by Mr Franck Bizouerne, who is a member of the European Federation of Geologists. Mr Bizouerne is a full-time employee of the Company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bizouerne consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
COMPLIANCE STATEMENT
The information in this announcement that relates to the previous mineral resource estimate is from the announcement titled "Bankan Mineral Resource increases to 5.38Moz" dated 7 August 2023. The information in this announcement that relates to the previous ore reserve estimate is from the announcement titled "PFS Delivers Attractive Financials & 3.05Moz Ore Reserve" dated 15 April 2024.
The estimates are summarised in the tables below. The Company it is not aware of any new information or data that materially affects the mineral resource or ore reserve estimates contained in this announcement and all material assumptions and technical parameters underpinning the mineral resource and ore reserve estimates continue to apply and have not materially changed.
Table 2: Bankan Gold Project Mineral Resource Estimate
| Deposit | Classification | Cut-off(g/t Au) | Tonnes(Mt) | Grade(g/t Au) | Contained(Koz Au) |
|---|---|---|---|---|---|
| Indicated | 0.5 | 78.4 | 1.55 | 3,900 | |
| NEB Open Pit | Inferred | 0.5 | 3.1 | 0.91 | 92 |
| Total | 81.4 | 1.53 | 3,993 | ||
| NEB Underground | Inferred | 2.0 | 6.8 | 4.07 | 896 |
| NEB Total | 88.3 | 1.72 | 4,888 | ||
| Indicated | 0.4 | 5.3 | 1.42 | 244 | |
| BC Open Pit | Inferred | 0.4 | 6.9 | 1.09 | 243 |
| BC Total | 12.2 | 1.24 | 487 | ||
| Total Bankan Project | 100.5 | 1.66 | 5,376 |
Table 3: Bankan Gold Project Ore Reserve Estimate
| Deposit | Mining Method | Classification | Cut-off(g/t Au) | Tonnes(Mt) | Grade(g/t Au) | Contained(Koz Au) |
|---|---|---|---|---|---|---|
| Open Pit | Probable | 0.5 | 46.2 | 1.41 | 2,101 | |
| NEB | Underground | Probable | 1.7 | 7.1 | 3.24 | 739 |
| Total | 53.3 | 1.66 | 2,840 | |||
| Open Pit | Probable | 0.4 | 4.3 | 1.48 | 207 | |
| BC | Total | 4.3 | 1.48 | 207 | ||
| Total Open Pit | 50.6 | 1.42 | 2,308 | |||
| Total Underground | 7.1 | 3.24 | 739 | |||
| Total Bankan Project | 57.7 | 1.64 | 3,047 |
The production targets and forecast financial information referred to in this announcement is from the announcement titled "PFS Delivers Attractive Financials & 3.05Moz Ore Reserve" dated 15 April 2024. The Company confirms that all the material assumptions underpinning the production targets and forecast financial information derived from the production targets in the previous announcement continue to apply and have not materially changed.
The information in this announcement that relates to the previous exploration results have been cross referenced to the original announcement or are from announcements listed in the table below. The Company confirms that it is not aware of any new information or data that materially affects previous exploration results referred to in this announcement. The Company also confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the relevant original market announcements.
| Date | Announcement | Date | Announcement |
|---|---|---|---|
| 16 July 2024 | Strong Drilling Results and Permitting Update | 23 September 2021 | 28m @ 12.1g/t Gold 1.5 Km from NE Bankan |
| 27 June 2024 | BC Resource Definition Drilling Returns Positive Intercepts | 16 September 2021 | High-Grade Gold Zone Confirmed Up To 400m Vertical Depth |
| 12 June 2024 | Fouwagbe & Sounsoun Progress to Resource Development | 24 August 2021 | Strong Widths and Grades from Bankan Creek Resource Drilling |
| 24 April 2024 | BC East Drilling Confirms Previous Positive Results | 02 August 2021 | More Broad Widths and High-Grades from Bankan Drilling |
| 15 April 2024 | PFS Delivers Attractive Financials & 3.05Moz Ore Reserve | 19 July 2021 | Bonanza Gold Grades as High-Grade Zone Is Revealed at Bankan |
| 9 April 2024 | Excellent Results from Argo Central Trend | 17 June 2021 | Broad Gold Intercepts from Bankan Creek and NE Bankan |
| 1 February 2024 | Sounsoun, SB and SEB Targets Advanced by Latest Drilling | 03 June 2021 | NE Bankan Extends to Depth with Strong Gold Grades |
| 11 December 2023 | Drilling at Bankan Delivers More Positive Results | 31 May 2021 | 6m at 32g/t Gold from First Drilling at Koundian, Guinea |
| 24 October 2023 | Promising Results from Across the Bankan Gold Project | 13 May 2021 | Widespread & High-Grade Gold from Bankan Regional Auger |
| 12 September 2023 | Further Strong Drilling Results from the NEB & BC Area | 06 May 2021 | NE Bankan Central Gold Zone Extending to South at Depth |
| 29 August 2023 | Encouraging Initial Argo RC Results | 28 April 2021 | Bankan Aeromag Many New Drill Targets Along 35km Structure |
| 7 August 2023 | Bankan Mineral Resource Increases to 5.38Moz | 15 April 2021 | NE Bankan Gold Mineralisation Substantially Extends at Depth |
| 7 August 2023 | Resource Definition Drilling Results | 31 March 2021 | NE Bankan Grows To 300m Wide. High Grade Gold from Surface |
| 19 June 2023 | Encouraging Drill Results at NEB, BC and Nearby Targets | 15 March 2021 | Exceptionally High Grades, Thick Intercepts from NE Bankan |
| 19 June 2023 | Argo Target Upgraded by Recent Auger Results | 05 March 2021 | Substantial Oxide Gold Zone Emerging at NE Bankan Project |
| 5 June 2023 | Positive Resource Drilling Results from NEB and BC | 25 February 2021 | More Depth Extensions from Drilling Bankan Gold Discoveries |
| 22 May 2023 | Multiple High Priority Drill Targets Identified at Argo | 11 February 2021 | High Grade Drill Results Extend Bankan Ck Discovery to North |
| 6 April 2023 | RC Drilling Underway at Near-Resource Targets | 28 January 2021 | Outstanding, Wide Gold Intercept Grows Bankan at Depth |
| 4 April 2023 | Infill Drilling Results | 22 January 2021 | Bankan Gold Project Drilling Accelerated |
| 21 February 2023 | High-Grade Intercepts Extends Underground Mineralisation | 27 November 2020 | Exploration Update - Bankan Gold Project, Guinea |
| 06 February 2023 | 50% Of NEB'S 3.5Moz Open Pit Resource Upgraded to Indicated | 20 October 2020 | Exploration Update - Bankan-2 Gold Drilling Underway |
| 30 January 2023 | Outstanding Infill Drilling Results Continue | 13 October 2020 | 92m at 1.9g/t Gold - Diamond Drilling Expands Bankan Project |
| 30 November 2022 | Promising Near-Resource Drilling and Geophysics Results | 25 September 2020 | NE Bankan Gold Deposit Grows with More Strong Drill Results |
| 10 November 2022 | Positive Infill Drill Results & Grade Control Program Complete | 10 September 2020 | 55m at 2.94g/t Gold-Broad True Widths Confirmed At Bankan |
| 29 September 2022 | High Grade Gold 200m Below NE Bankan's 3.9Moz Resource | 03 September 2020 | NE Bankan Now 1.6km Long with Possible Parallel Gold Zone |
| 25 August 2022 | Impressive Gold Hits Continue At 4.2Moz Bankan Gold Resource | 27 August 2020 | Bankan Creek Gold Zone Further Expanded |
| 01 August 2022 | 4.2Moz Bankan Gold Resource | 19 August 2020 | Strong Wide Gold Intercepts from Bankan Creek and NE Bankan |
| 15 June 2022 | Deepest Hole to Date Intercepts Gold 630m Down Dip | 07 August 2020 | Outstanding High-Grade Gold Results from NE Bankan, Guinea |
| 19 May 2022 | 60,000m Drill Program Underway at Bankan & Key Appointments | 31 July 2020 | Diamond Drilling Confirms Gold at Depth at NE Bankan, Guinea |
| 27 April 2022 | 41.5m @ 5.2g/t Au Intersected at NE Bankan | 17 July 2020 | Impressive 1st RC Drill Results Grow NE Bankan Discovery |
| 02 February 2022 | Multi-Deposit Potential Grows with Strong Results | 30 June 2020 | NE Bankan Discovery Guinea Extended 30% To 1.3km In Length |
| 13 January 2022 | 33m @ 4.5 g/t Au at NE Bankan, Guinea | 27 May 2020 | Kaninko Auger Results Double Gold-Mineralised Strike Length |
| 16 December 2021 | Bankan Project Grows with New Gold Discoveries | 07 May 2020 | Drilling Update - Kaninko Project, Guinea |
| 09 December 2021 | Predictive Intersects 34m @ 5.5 g/t Au at NE Bankan | 30 April 2020 | Final Drill Results, Bankan Creek, Kaninko Project, Guinea |
| 22 November 2021 | Further Depth Extension to Bankan High-Grade Gold | 27 April 2020 | 44m at 2.06g/t Gold from Bankan Creek, Kaninko, Guinea |
| 03 November 2021 | High-Grade Gold Zone Extended Below Resource Pit Shell | 15 April 2020 | Outstanding Drill Results from New Gold Discovery in Guinea |
| 28 October 2021 | AC Drilling Identifies New Gold Prospects at Bankan | 07 April 2020 | Guinea Ground Acquired Near Plus-2 Million Oz Gold Deposits |
| 19 October 2021 | NE Bankan High-Grade Gold Zone Reinforced and Extended | 19 March 2020 | High-Grades-Broad Widths from Guinea Auger-Trenching Program |
| 30 September 2021 | 3.65 Million-Ounce Bankan Maiden Mineral Resource Estimate | 26 February 2020 | Up To 8g/t Gold from Power Auger Drilling in Guinea |
APPENDIX 1: RESOURCE DEFINITION DRILLING RESULTS
| UTM 29NUTM 29NRLHoleHole | Hole | 0.5g/t gold cut-off | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hole No. | Hole Type | East | North | (GPS) | azimuth | dip | depth | From | Interval | Au g/t | GM | |
| Gbengbeden | ||||||||||||
| BNEDD0264 | DD | 396,647 | 1,175,981 | 389 | 86.8 | -55.6 | 179 | 52 | 1 | 3.63 | 4 | |
| 73 | 4 | 0.54 | 2 | |||||||||
| 80 | 7 | 1.13 | 8 | |||||||||
| 91 | 4 | 0.43 | 2 | |||||||||
| 103 | 4.3 | 4.88 | 21 | |||||||||
| 112.8 | 2.7 | 2.26 | 6 | |||||||||
| 121 | 3 | 1.19 | 4 | |||||||||
| 133 | 1 | 0.82 | 1 | |||||||||
| BNEDD0266 | DD | 396,602 | 1,176,020 | 388 | 89.1 | -60.6 | 184 | 34 | 19 | 1.64 | 31 | |
| 71 | 1 | 0.97 | 1 | |||||||||
| 77 | 1 | 0.53 | 1 | |||||||||
| 84 | 11 | 0.74 | 8 | |||||||||
| 138 | 1 | 2.32 | 2 | |||||||||
| 145 | 1.2 | 0.61 | 1 | |||||||||
| 175 | 2 | 0.68 | 1 | |||||||||
| BNEDD0268A | DD | 396,599 | 1,176,020 | 388 | 94.9 | -82.6 | 180 | 26 | 1 | 0.53 | 1 | |
| 46.75 | 2.55 | 0.74 | 2 | |||||||||
| 52 | 5 | 0.68 | 3 | |||||||||
| 74 | 1 | 0.98 | 1 | |||||||||
| 81 | 1 | 0.53 | 1 | |||||||||
| 95 | 1 | 1.86 | 2 | |||||||||
| 170 | 1 | 1.13 | 1 | |||||||||
| BNERC0569 | RC | 396,678 | 1,175,940 | 391 | 89.4 | -60.0 | 150 | 20 | 2 | 1.37 | 3 | |
| 30 | 2 | 1.37 | 3 | |||||||||
| 38 | 1 | 0.96 | 1 | |||||||||
| 104 | 1 | 0.98 | 1 | |||||||||
| 100 | 135 | 15 | 1.61 | 24 | ||||||||
| BNERC0570 | RC | 396,755 | 1,175,939 | 392 | 90.6-59.2 | 1621 | 225 | 0.801.51 | 238 | |||
| 53 | 5 | 1.11 | 6 | |||||||||
| 64 | 11 | 0.81 | 9 | |||||||||
| 79 | 1 | 1.16 | 1 | |||||||||
| 85 | 6 | 1.43 | 9 | |||||||||
| 95 | 3 | 0.79 | 2 | |||||||||
| BNERC0571 | RC | 396,810 | 1,175,980 | 392 | 89.9 | -53.9 | 80 | 5 | 3 | 0.54 | 2 | |
| 11 | 6 | 1.16 | 7 | |||||||||
| 49 | 1 | 1.11 | 1 | |||||||||
| 79 | 1 | 0.98 | 1 | |||||||||
| BNERC0572 | RC | 396,712 | 1,175,980 | 391 | 89.9 | -47.2 | 135 | 5 | 1 | 0.68 | 1 | |
| 9 | 7 | 0.71 | 5 | |||||||||
| 56 | 4 | 0.59 | 2 | |||||||||
| 68 | 2 | 0.79 | 2 | |||||||||
| 78 | 8 | 1.86 | 15 | |||||||||
| 92 | 10 | 1.87 | 19 | |||||||||
| 111 | 4 | 0.70 | 3 | |||||||||
| 121 | 7 | 1.04 | 7 | |||||||||
| BNERC0573 | RC | 396,667 | 1,176,019 | 389 | 89.8 | -56.6 | 150 | 9 | 1 | 0.52 | 1 | |
| 32 | 7 | 1.35 | 10 | |||||||||
| 70 | 4 | 1.52 | 6 | |||||||||
| 84 | 4 | 3.99 | 16 | |||||||||
| 96 | 1 | 0.57 | 1 | |||||||||
| 131 | 1 | 0.69 | 1 | |||||||||
| BNERC0574A | RC | 396,715 | 1,176,013 | 389 | 92.1 | -54.7 | 130 | 13 | 1 | 0.51 | 1 | |
| 17 | 1 | 0.57 | 1 | |||||||||
| 27 | 1 | 0.56 | 1 | |||||||||
| 40 | 1 | 1.87 | 2 | |||||||||
| 5466 | 11 | 1.710.82 | 21 | |||||||||
| 70 | 5 | 1.26 | 6 | |||||||||
| 81 | 1 | 0.94 | 1 |
| UTM 29N | UTM 29N | RL | Hole | Hole | Hole | 0.5g/t gold cut-off | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hole No. | Hole Type | East | North | (GPS) | azimuth | dip | depth | From | Interval | Au g/t | GM | ||
| BNERC0575 | RC | 396,809 | 1,176,020 | 390 | 93.1 | -59.0 | 100 | 10 | 1 | 1.66 | 2 | ||
| 20 | 11 | 0.83 | 9 | ||||||||||
| 69 | 1 | 0.81 | 1 | ||||||||||
| BNERC0576 | RC | 396,668 | 1,176,060 | 387 | 92.5 | -59.4 | 100 | 5 | 1 | 0.82 | 1 | ||
| BNERC0577 | RC | 396,770 | 1,176,100 | 387 | 91.1 | -60.0 | 80 | 48 | 1 | 0.81 | 1 | ||
| 53 | 1 | 1.13 | 1 | ||||||||||
| BNERC0578 | RC | 396,770 | 1,176,140 | 386 | 88.6 | -59.3 | 120 | 55 | 1 | 1.14 | 1 | ||
| 108 | 1 | 0.93 | 1 | ||||||||||
| 115 | 5 | 0.53 | 3 | ||||||||||
| BNERC0579 | RC | 396,613 | 1,176,180 | 383 | 89.4 | -60.0 | 110 | 21 | 1 | 0.61 | 1 | ||
| 56 | 1 | 0.54 | 1 | ||||||||||
| BNERC0580 | RC | 396,757 | 1,176,076 | 387 | 90.2 | -58.8 | 95 | No significant intercepts | |||||
| BNERC0581 | RC | 396,688 | 1,176,060 | 388 | 89.5 | -60.6 | 150 | 5 | 13 | 2.63 | 34 | ||
| 44 | 1 | 1.11 | 1 | ||||||||||
| 83 | 1 | 0.84 | 1 | ||||||||||
| 108 | 3 | 1.47 | 4 | ||||||||||
| 115 | 1 | 0.78 | 1 | ||||||||||
| 123 | 3 | 0.76 | 2 | ||||||||||
| 139 | 3 | 0.75 | 2 | ||||||||||
| BNERC0582 | RC | 396,794 | 1,176,077 | 388 | 91.0 | -61.4 | 95 | No significant intercepts | |||||
| BC | |||||||||||||
| BCKDD0053 | DD | 393,515 | 1,173,913 | 370 | 60.8 | -56.4 | 184 | 2.15 | 1.75 | 0.71 | 1 | ||
| 39 | 1 | 0.76 | 1 | ||||||||||
| 57 | 1 | 0.50 | 1 | ||||||||||
| 61 | 2 | 0.68 | 1 | ||||||||||
| 69 | 15 | 1.23 | 18 | ||||||||||
| 103 | 3 | 1.54 | 5 | ||||||||||
| 135 | 1 | 1.66 | 2 | ||||||||||
| BCKDD0054 | DD | 393,392 | 1,174,144 | 368 | 61.7 | -56.7 | 180 | 42.7 | 1.3 | 1.26 | 2 | ||
| 53 | 6 | 0.79 | 5 | ||||||||||
| 79 | 2 | 0.68 | 1 | ||||||||||
| 148 | 1 | 1.72 | 2 | ||||||||||
| 800W | |||||||||||||
| BNEDD0263 | DD | 395,913 | 1,175,779 | 388 | 90.2 | -55.9 | 120 | 29 | 4 | 1.38 | 6 | ||
| 36 | 1 | 0.87 | 1 | ||||||||||
| 53 | 6.1 | 2.54 | 16 | ||||||||||
| 78 | 1 | 3.69 | 4 | ||||||||||
| 100 | 1 | 6.02 | 6 | ||||||||||
| BNEDD0265 | DD | 395,852 | 1,175,740 | 388 | 90.6 | -60.6 | 120 | 14 | 1.9 | 0.68 | 1 | ||
| 19 | 3 | 1.18 | 4 | ||||||||||
| 34 | 1 | 0.67 | 1 | ||||||||||
| BNERC0566 | RC | 395,935 | 1,175,840 | 387 | 89.5 | -59.9 | 120 | 119 | 1 | 0.92 | 1 | ||
| BNERC0567 | RC | 395,973 | 1,175,840 | 388 | 91.1 | -59.1 | 100 | 91 | 1 | 1.42 | 1 |
APPENDIX 2: EXPLORATION DRILLING RESULTS
| UTM 29N | UTM 29N | RL | Hole | Hole | Hole | 0.5g/t gold cut-off | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Hole No. | Hole Type | East | North | (GPS) | azimuth | dip | depth | From | Interval | Au g/t | GM |
| SB | |||||||||||
| BNEDD0267 | DD | 395,948 | 1,173,902 | 399 | 90.9 | -54.9 | 171 | No significant intercepts | |||
| BNERC0583 | RC | 395,998 | 1,173,947 | 402 | 92.6 | -55.4 | 120 | No significant intercepts | |||
| BNERC0584 | RC | 396,051 | 1,173,949 | 404 | 87.5 | -54.5 | 120 | No significant intercepts | |||
| BNERC0585 | RC | 396,102 | 1,173,947 | 405 | 96.2 | -54.7 | 120 | 71 | 1 | 0.73 | 1 |
| 83 | 19 | 2.04 | 39 | ||||||||
| 105 | 15 | 8.05 | 121 | ||||||||
| BNERC0586 | RC | 396,004 | 1,173,848 | 401 | 87.5 | -54.8 | 120 | No significant intercepts | |||
| BNERC0587 | RC | 396,051 | 1,173,852 | 404 | 90.1 | -54.5 | 120 | No significant intercepts |
APPENDIX 3: JORC CODE TABLE 1
| Section 1:Sampling Techniquesand Data | |||||||
|---|---|---|---|---|---|---|---|
| Criteria | JORC CodeExplanation | Commentary | |||||
| Sampling Technique | Nature and quality of sampling (eg cut channels,random chips, or specific specialised industry standardmeasurement tools appropriate to the minerals underinvestigation, such as downhole gamma sondes, orhandheld XRF instruments, etc). These examples shouldnot be taken as limiting the broad meaning of samplingInclude reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.Aspects of the determination of mineralisation that areMaterial to the Public Report.In cases where 'industry standard' work has been donethis would be relatively simple (eg 'reverse circulationdrilling was used to obtain 1 m samples from which 3 kgwas pulverised to produce a 30 g charge for fire assay').In other cases more explanation may be required, suchas where there is coarse gold that has inherent samplingproblems. Unusual commodities or mineralisation types(eg submarine nodules) may warrant disclosure ofdetailed information. | Samples assayed were cut diamond drill ("DD") core and reversecirculation ("RC") and aircore ("AC") drill chips.Core was cut in half with a core saw where competent and with a knife insoft saprolite in the upper sections of the DD holes.One metre RC chip samples were riffle split producing samples whichweighed 2-3kg for submission to the assay laboratory.AC drill samples were collected at 1m intervals and submitted as 2minterval composites. For each 1m sample, an approximate 1 to 1.5 kg subsample was riffle split and combined to obtain an approximate 2 to 3 kg"2m-composite" sample for laboratory analysis.Sampling was supervised by qualified geologists. The majority of samplesare 1m downhole, with diamond core sampling intervals breaking atlithological contacts where appropriate.All samples were dried, crushed and pulverised at the SGS laboratory inBamako to produce a 50g fire assay charge with Au analysed by FAA505.Any samples which returned >100gt were reassayed using gravimetricmethod GO FAG50V. Duplicate samples were also retained for re-assay. | |||||
| Drilling | Drill type (eg core, reverse circulation, open- holehammer, rotary air blast, auger, Bangka, sonic, etc) anddetails (eg core diameter, triple or standard tube, depthof diamond tails, face- sampling bit or other type,whether core is oriented and if so, by what method, etc). | DD holes included in this announcement were from a EDM2000 multipurpose rig. Diamond drilling is a combination of PQ, HQ and NQ core.Core was oriented using WELLFORCE orientation tools.RC/AC holes included in this announcement were from a Thor 5000 rig. | |||||
| Drill Sample Recovery | Method of recording and assessing core and chipsample recoveries and results assessed.Measures taken to maximise sample recovery andensure representative nature of the samples.Whether a relationship exists between sample recoveryand grade and whether sample bias may have occurreddue to preferential loss/gain of fine/coarse material. | Core recoveries were recorded by dividing the total length of corereturned from each run by the length of the run. Overall core recoveriesaverage around 92%, with the poorest recoveries (averaging 82%) in thefirst 40m of the drillholes.Overall RC and AC recovery is very good at 90% in the NEB area. However,samples in the first metre have lower than average recovery from thecollaring process.Drill holes with poor recoveries were re-drilled within a radius of around 3to 5m from the initial collar. A regularity of the recovery pattern downholesuggests considerable lag between the sample being generated at thehammer and reporting to the cyclone.Drillers do not always adhere to the metre marks on the mast, leading torandomly occurring overlength and underlength samples.The splitters are regularly checked and cleaned to ensure sample build upis minimised.The RC rig cyclones are regularly cleaned (several times during drillingand between drilling) in order to minimise sample accumulation andcontamination, and to increase the recovery rate.No relationship between sample recovery and grade has been analysed. Itis unlikely that the grade of the RC drill samples has been biased, howeverthe combination of regularly and randomly occurring sample weightvariations will lead to a degradation of the local grade estimate and ahigher than necessary nugget, as well as increased inaccuracy in thespatial delimitation of ore waste boundaries. |
| Logging | Whether core and chip samples have been geologicallyand geotechnical logged to a level of detail to supportappropriate Mineral Resource estimation, mining studiesand metallurgical studies.Whether logging is qualitative or quantitative in nature.Core (or costean/Trench, channel, etc) photography.The total length and percentage of the relevantintersections logged. | All drill samples were logged systematically for lithology, weathering,alteration, veining, structure and minor minerals. Minor minerals wereestimated quantitively. The Competent Person considers that theavailability of qualitative and quantitative logging has appropriatelyinformed the geological modelling, including weathering and oxidation,water table level and rock type.Photographs have been taken of each core tray and chip tray.A WELLFORCE core orientation device was employed on all drilled coreenabling orientated structural measurements to be taken.The Competent Person considers that the level of detail is sufficient forthe reporting of Mineral Resources. |
|---|---|---|
| Sub-SamplingTechnique and SamplePreparation | If core, whether cut or sawn and whether quarter, half orall core taken.If non-core, whether riffled, tube sampled, rotary split,etc and whether sampled wet or dry.For all sample types, the nature, quality andappropriateness of the sample preparation technique.Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.Measures taken to ensure that the sampling isrepresentative of the in situ material collected, includingfor instance results for field duplicate/second-halfsampling.Whether sample sizes are appropriate to the grain sizeof the material being sampled. | The DD samples were collected by longitudinally splitting core using acore saw or a knife where core was very soft and clayey. Routine sampleswere half-core, with predetermined diamond core duplicates beingquarter-core. The sampling method is considered adequate for a DDprogram of this type.The RC/AC samples were collected by riffle splitting 2-3kg from 1m 30kgbulk samples collected directly from the cyclone attached to the drill rig.Sample quality and condition are logged critically and any loss of sampleintegrity will trigger the hole being immediately stopped. One blind fieldis inserted into the sample stream and assayed routinely. The samplingprocedures are industry standard. RC/AC sample weights are recordedimmediately after collection from the cyclone.Field duplicate results demonstrated no bias in the sample results.There is considerable scatter in the diamond duplicate pairs suggestingthat the mineralisation is likely to be highly variable at a short scale, andthis variability needs to be taken into account when planning futuresampling programs.Sample sizes are considered to be appropriate to the grain size of thematerial being sampled. |
| Quality of Assay Dataand Laboratory Tests | The nature, quality and appropriateness of the assayingand laboratory procedures used and whether thetechnique is considered partial or total.For geophysical tools, spectrometers, handheld XRFinstruments, etc, the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.Nature of quality control procedures adopted (egstandards, blanks, duplicates, external laboratory checks)and whether acceptable levels of accuracy (ie lack ofbias) and precision have been established. | All samples were assayed by SGS. Analysis of gold is by fire assaytechnique with a lower detection limit of 5ppb Au. All samples with goldvalues exceeding 10g/t Au were re-assayed using SGS method FAA515with a detection limit of 0.01g/t Au.Field duplicates, standards and blank samples were each submitted insequence every 15 samples.Diamond core duplicates were obtained by cutting the half core sampleinto two quarter core samples. As samples are not homogenised, somevariation is expected.Duplicate and standards analysed were all within acceptable limits ofexpected values.Analysis of this QAQC data demonstrated that the DD/RC data is ofacceptable quality to be used for Mineral Resource estimation. |
| Verification ofSampling and Assaying | The verification of significant intersections by eitherindependent or alternative company personnel.The use of twinned holes.The verification of significant intersections by eitherindependent or alternative company personnel.Discuss any adjustment to assay data. | At this stage, the intersections have not been verified independently.No twin holes have been conducted.Drillhole logging is completed on paper sheets and manually entered intoa database on site. The data is managed by a company employee, whochecks for data validation. Assay results are returned electronically fromthe assay laboratory and are merged into the assay table of the database.No adjustments or corrections have been made to any assay interval data.All intercepts are reported as drilled. |
| Location of Data points | Accuracy and quality of surveys used to locate drill holes(collar and down- hole surveys), trenches, mine workingsand other locations used in Mineral Resource estimation. | GEOID Datum and WGS84 Zone 29N projection. | All surface drill hole survey information is collected in-house using a Leica18T RTK DGPS system. The project survey grid is tied to the West African | ||
|---|---|---|---|---|---|
| Specification of the grid system used. | All DD and RC/AC holes have been surveyed by using north-seekingWELLFORCE CHAMP gyro. | ||||
| Quality and adequacy of topographic control. | |||||
| Data Spacing andDistribution | Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource and OreReserve estimation procedure(s) and classificationsapplied. | The BC deposit has mainly been drilled on a 40m x 40m drill spacing,which is being closed to as low as 20m between holes on certain sectionswith the aim to upgrade Inferred Mineral Resources located just belowthe PFS pit design to the Indicated category.The Gbengbeden deposit has mainly been drilled on a 40m x 40m drillspacing, which is being closed to as low as 20m between holes on certainsections with the aim to upgrade Inferred Mineral Resources located just | |||
| Whether sample compositing has been applied. | below the PFS pit design to the Indicated category. | ||||
| The 800W target has mainly been drilled on a 20m x 20m drill spacing. | |||||
| Holes drilled at the near-resource targets were planned on specific targetslike auger anomalies and did not always follow a set grid. Spacing of ACholes depends on their depth (blade refusal) to ensure suitable coverage. | |||||
| Orientation of Data inRelation to GeologicalStructure | Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit type. | Most of the drilling is orientated as close as possible to orthogonal to thedip and strike of the mineralisation. Drilling at some targets is earlierstage and the geometry of mineralisation is currently unknown. | |||
| If the relationship between the drilling orientation andthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material. | |||||
| Sample Security | The measures taken to ensure sample security. | office in Kouroussa or at the core shed. | Samples are stored in a guarded location close to the nearby Bankan Village.Samples are picked up and transported to Bamako by PDI/SGS truck. Coarserejects and pulps will be eventually recovered from SGS and stored at PDI's | ||
| Audits or Reviews | The results of any audits or reviews of samplingtechniques and data. | CSA have reviewed the sampling techniques and chain of custodyprocedures at the project. | |||
| Section 2 Reporting of Exploration Results | |||||
| Mineral Tenement andLand Tenure Status | Type, reference name/number, location and ownershipincluding agreements or material issues with third | The Bankan Gold Project consists of four Permis de Recherche Industrielle(Or), or exploration permits, as follows: | |||
| parties such as joint ventures, partnerships, overridingroyalties, native title interests, historical sites, wilderness | Permit Name | Area (km2) | Holder | ||
| or national park and environmental settings. | Kaninko | 98.22 | Mamou Resources SARLU | ||
| Saman | 99.78 | Mamou Resources SARLU | |||
| The security of the tenure held at the time of reporting | |||||
| along with any known impediments to obtaining a | BokoroArgo | 99.9857.54 | Kindia Resources SARLUArgo Mining SARLU | ||
| licence to operate in the area. | southwest of the town of Kouroussa in Guinea. | The permits are located between 9°51'00"W and 10°03'24"W and between10°32'26"N and 10°52'00"N, situated to the northwest, west andThe Kaninko, Saman and Bokoro permits are held by 100% ownedsubsidiaries of PDI. The Argo permit is subject to a joint venture, wherebyPDI can progressively earn 90% by payment of US$100,000 and canacquire the remaining 10% at a decision to mine in exchange for a 2% netsmelter royalty on production. The permit expiry dates have passed andPDI has submitted renewal documents in accordance with Guineanrequirements. The renewal process is ongoing, and the Ministry of Minesand Geology has indicated its support to PDI for these renewals.Parts of the Kaninko and Saman permits, including the NEB and BC deposits,are situated in the Peripheral Zone of the Upper Niger National Park. The | |||
| the Core Conservation Area. | deposits are 21 km and 18 km, respectively, away from the closest point of |
| PDI intends to apply for a mining exploitation title and enter into a miningconvention with the Ministry of Mines and Geology to carry outexploitation activities within the area covered by the exploration permits.PDI has taken a robust approach to address the sensitivities associatedwith the location of the Project within the Peripheral Zone of the UpperNiger National Park and appointed ERM to prepare the ESIA and ESMPframework, which are essential prerequisites to be submitted by PDI whenapplying for the exploitation title.As a result of overlapping regulations and decrees governing miningactivities in natural protected areas in Guinea, including the Upper NigerNational Park's management plan, there is a lack of clarity on the legal basisfor mining exploitation activities in the Peripheral Zone of the Upper NigerNational Park. It is expected that a clear basis, as well as the framework andconditions for the development of the Project, will be provided in the miningconvention to be entered into in connection with the Project. | ||
|---|---|---|
| Exploration Done byOther Parties | Acknowledgment and appraisal of exploration by otherparties. | PDI is not aware of any significant previous gold exploration over theNEB/BC area.Artisanal miners have extracted an unknown quantity of gold fromshallow hand dug pits and shafts, with panning and loaming used toidentify mineralized areas. |
| Geology | Deposit type, geological setting and style ofmineralisation. | The Bankan deposits are hosted in Paleoproterozoic rocks of the BirimianSupergroup in the Siguiri Basin, which is host to several significant largeactive gold mining operations.The predominant rock types consist of felsic intrusives including granite andtonalite, with mafic to intermediate volcanics and intrusives. Metasedimentsincluding marble, chert and schists have also been observed.Weathering has formed a deep saprolite profile, with a pisolitic andnodular lateritic cover which hosts remobilised gold, generally above theprimary deposits or dispersed a few tens of metres laterally.BC: BC is a tonalite intrusion into sedimentary carbonate, generating askarn at the contact between the intrusion and the host rock bymetasomatic reaction. This intrusion is bordered by a deformationcorridor to the east (footwall), generally following the contact betweenthe metasediment and the intrusion, and to the west by a hangingwallshear zone at the granodiorite-metasediment contact. Skarn faciesalteration developed along these two deformed contacts from magmatichydrothermal fluid. The associated silicic alteration carries goldmineralisation. The expression of these events is varied in the core(massive quartz veins, brecciated quartz veins, sheared quartz veins,stockwork quartz veins, silica overprint, etc). The main minerals in theskarn are garnet, epidote, and chlorite, with rare pyroxene and amphibole.The footwall sedimentary carbonate displays strong deformation,including folding.800W: 800W consists of a series of mineralised zones developing alongparallel deformation zones and plunging to the NW into an intrusive hostrock. This series of mineralised bodies appears to be aligned along aNNE-SSW trending resistive corridor highlighted by the previous groundgeophysics campaign. |
| Drill Hole Information | A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:• easting and northing of the drill hole collar• elevation or RL (Reduced Level – elevation abovesea level in metres) of the drill hole collar• dip and azimuth of the hole• down hole length and interception depth• hole length. | See Appendix 1 and Appendix 2. |
| If the exclusion of this information is justified on the basisthat the information is not Material and this exclusiondoes not detract from the understanding of the report,the Competent Person should clearly explain why this isthe case. | ||
|---|---|---|
| Data AggregationMethods | In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum gradetruncations (eg cutting of high grades) and cut-offgrades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low graderesults, the procedure used for such aggregation shouldbe stated and some typical examples of suchaggregations should be shown in detail.The assumptions used for any reporting of metalequivalent values should be clearly stated. | Sampling was generally in 1m intervals.Up to 2m (down-hole) of internal waste is included for results reported atthe 0.5g/t Au cut-off grade.Mineralised intervals are reported on a weighted average basis. |
| Relationship BetweenMineralisation Widthsand Intercept Lengths | These relationships are particularly important in thereporting of Exploration ResultsIf the geometry of the mineralisation with respect to thedrill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(eg 'down hole length, true width not known'). | At NEB, Gbengbeden, SB and SEB, drill holes are typically inclined at 55°to the east, in order to target mineralised trend structures that appear toplunge towards the west and develop along a generally N-S axis. The dipof these different mineralised structures appears to vary between 45° and60°, implying a down-hole intercept length of the true thickness.At BC, drill holes are typically inclined at 55° to the north-east, in order totarget mineralised trend structures that appear to plunge towards thesouth-west and develop along a generally NW-SE axis. The dip of thesedifferent mineralised structures appears to vary between 45° and 60°,implying a down-hole intercept length of the true thickness.At 800W, drill holes are typically inclined at 55° to the east, in order totarget mineralised trend structures that appear to plunge globallytowards the west and the north-west and develop along a generally N-Sto NNE-SSW axis.In the WNW-ESE BC corridor, drill holes are generally inclined 55° to thenorth-east in order to intercept mineralisation plunging 45-60° to thesouth-west, implying a down-hole intercept length of the true thickness. |
| Diagrams | Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported. These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views. | Appropriate maps and sections are included in this release. |
| Balanced Reporting | Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults. | Comprehensive reporting of the drill results is provided in Appendix 1 andAppendix 2. |
| Other SubstantiveExploration Data | Other exploration data, if meaningful and material,should be reported including (but not limited to):geological observations; geophysical survey results;geochemical survey results; bulk samples – size andmethod of treatment; metallurgical test results; bulkdensity, groundwater, geotechnical and rockcharacteristics; potential deleterious or contaminatingsubstances. | All other exploration data on this area has been reported previously byPDI. |
| Further Work | The nature and scale of planned further work (eg testsfor lateral extensions or large scale step out drilling.Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretationsand future drilling areas, provided this information is notcommercially sensitive. | Refer to the text in the announcement for information on follow-upand/or next work programs. |