Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

PREDICTIVE DISCOVERY LIMITED Regulatory Filings 2021

Dec 15, 2021

65537_rns_2021-12-15_e37c5a6e-c21b-4387-b829-ce4e8f25bbac.pdf

Regulatory Filings

Open in viewer

Opens in your device viewer

16 December 2021

BANKAN PROJECT GROWS WITH NEW GOLD DISCOVERIES

Predictive Discovery Limited (“Predictive” or “Company”) is pleased to announce the emergence of new gold discoveries at its Bankan Gold Project located within 3km of the existing 3.65Moz Mineral Resource Estimate[1] defined on the NE Bankan and Bankan Creek deposits.

HIGHLIGHTS

Assays from 112 shallow AC holes completed mostly within 3km of the main NE Bankan deposit (Figures 1- 3) have confirmed several new gold discoveries, with better results including:

800 West Prospect

  • BKAC0170: 7m @ 8.5g/t Au from 38m to EOH, incl. 2m @ 24.2g/t Au from 40m

  • BKAC0173: 36m @ 1.9g/t Au from 14m to EOH, incl.

  • 2m @ 16.1g/t Au from 32m & 4m @ 5.4g/t Au from 40m to EOH

  • West-dipping gold mineralisation intersected on two adjacent section lines, open to the north and south, and now being followed up with a 1,300m air core (AC) drill program.

SW Bankan targets

  • BKAC0082: 22m @ 12.1g/t Au from 8m, incl.

    • 4m @ 57.3g/t Au from 12m, and

    • 8m @ 5.4g/t Au from 38m

  • BKAC0076: 6m @ 1.7g/t Au from 8m, incl. 2m @ 3.8g/t Au

  • BKAC0077: 10m @ 1.4g/t Au from 30m

  • BKAC0078: 14m @ 1.0g/t Au from 36m, incl. 4m @ 2.5g/t Au from 46m to EOH

  • BKAC0079: 2m @ 6.4g/t Au from 30m

  • BKAC0164: 8m @ 1.2g/t Au from 8m

  • AC drilling programs are ongoing across the project area, testing for extensions to new gold mineralisation identified by earlier AC drilling on multiple prospects.

  • Regional exploration continues with power auger drilling programs east of NE Bankan and in the SE corner of the project area (SE Saman).

1 ASX release - 3.65 Million Ounce Bankan Maiden Mineral Resource Estimate (30 September 2021)

Managing Director, Paul Roberts said:

“These new assays, as well as previous results from elsewhere in the project area demonstrate clearly that the Bankan Project is an emerging gold camp with the right structural and geological setting to host multiple gold deposits.

The Company is in the fortunate position of holding a project in which new zones of gold mineralisation continue to emerge, offering numerous opportunities for expanding gold resources outside of the NE Bankan and Bankan Creek deposits.”

==> picture [527 x 441] intentionally omitted <==

Figure 1 – Bankan Project, significant new regional AC and power auger drilling results overlain on interpreted geology. Active and planned auger drilling grids east of NE Bankan and on SE Saman are shown as blue dots.

Bankan AC and Power Auger Drilling

Following the discovery of the NE Bankan deposit, the Company undertook a helicopter-borne magnetic and radiometric survey on a 100m-line spacing covering the entire project area. A detailed geological

Page 2 of 18

interpretation based on processed magnetic data over the immediate NE Bankan area showed that gold mineralisation coincides with the intersection of a series of ENE-orientated and NW orientated magnetic linears, on or close to the contact between granitic rocks and mafic volcanics.

The lithological and structural elements controlling mineralisation recognised at NE Bankan have provided a model for gold exploration across the Bankan Project with potential to host multiple “NE Bankan-style” gold deposits.

The Company has deployed one AC and two power auger rigs to follow-up the new targets with 13,000m of AC and power auger drilling completed in the past four months. AC and power auger are both fast and relatively cheap exploration methods and have proven to be highly effective for making discoveries on the Bankan Project.

In this release, the Company reports new results for 112 AC holes totalling 5,114m, most within 3km of the main NE Bankan deposit.

800 West Prospect

AC drilling comprising 4 holes on 2 traverses (BKAC0170-173; Figures 1-3) was completed approximately 800m west of the NE Bankan deposit, following up previous excellent AC results of 14m @ 3.4g/t Au and 12m @ 1.5g/t Au.[2]

Significant gold values were intersected in 3 of the 4 holes drilled, indicating a west dip to the mineralisation. Best intersections include:

• BKAC0170: 7m @ 8.5g/t Au from 38m to EOH, incl. 2m @ 24.2g/t Au from 40m • BKAC0173: 36m @ 1.9g/t Au from 14m to EOH, incl. 2m @ 16.1g/t Au from 32m, and 4m @5.4g/t Au from 40m to EOH

The two drill traverses are 80m apart and the results suggest a roughly north-south trending zone, 20-35m wide and dipping to the west. A follow up AC program, totalling 1,300m and testing over 200m of strike length is now in progress.

The location of these new gold results so close to the NE Bankan deposit highlight the expanding potential of the Bankan Project in very close proximity to both NE Bankan and Bankan Creek.

2 ASX Announcement - AC drilling identifies new gold prospects at Bankan (28 October 2021)

Page 3 of 18

16 December 2021

==> picture [588 x 429] intentionally omitted <==

Figure 2 – Cross Section 1175820N showing new holes BKAC0170 - 171 testing the previously reported AC gold anomaly (ASX 28 October 2021).

==> picture [550 x 402] intentionally omitted <==

Figure 3 – Cross Section 1175740N showing new holes BKAC0026A and BKAC0172-173 testing the previously reported AC gold anomalies (ASX 28 October 2021).

Page 5 of 18

16 December 2021

SW Bankan Targets

A total of 42 AC holes totalling 2,022m were completed over 8 AC traverses (BKAU0074-115). These holes comprised infill and extensional drilling around the previously reported AC gold intercepts from BKAC001116. Anomalous gold was reported in 14 new holes.

Three new traverses north and south of section 1173340N were drilled to follow up previous strong gold intersections in BKAC0015-16, which included 16m @ 2.3g/t Au and 28m @ 12.8g/t Au (BKAC0016) and 8m @ 3.3g/t Au (BKAC0015)[3] . Best results were received from the infill drilling around the previous intersections including:

• BKAC0078: 14m @ 1.0g/t Au from 36m, incl. 4m @ 2.5g/t Au from 46m to EOH • BKAC0079: 2m @ 6.4g/t Au from 30m • BKAC0082: 22m @ 12.1g/t Au from 8m, incl. 4m @ 57.3g/t Au from 12m, and 8m @ 5.4g/t Au from 38m,

Incl. 4m @ 9.7g/t Au from 40m

Hole BKAC0082 was designed as a scissor hole through BKAC0016 to help establish orientation of the gold mineralisation and obtained high values similar to those in BKAC0016. However the orientation of gold mineralisation appears to be limited in a N-S direction. Assessment is ongoing but it is possible that gold mineralisation in this area is orientated differently.

Holes BKAC0074-77 were drilled on a single traverse to follow-up anomalous gold in BKAC0013-14 (4m @ 4.0g/t Au and 22m @ 1.2g/t Au respectively[4] ). Gold was intersected in all holes with better results including 6m @ 1.7g/t Au from 8m, incl. 2m @ 3.8g/t Au in BKAC0076; and 10m @ 1.4g/t Au from 30m in BKAC0077. This gold mineralisation has an apparent west dip and remains open in all directions.

South of NE Bankan

A single traverse of 3 holes totalling 150m (BKAC0164-166) was drilled due south of NE Bankan to followup previously reported gold intersections in BKAC0007-008[5] . A best result of 8m @ 1.2g/t Au was returned from BKAC0164 identifying some gold potential in this area (Figure 1).

South-East Saman

The SE Saman area is an additional focus of exploration over and above the nine high priority targets identified in the aeromagnetic survey of early 2021[6] . The target area was identified initially by BLEG stream

(3-5)45 6 ASX Announcement - Bankan aeromagnetics identifies numerous drill targets along 35km-long structural corridor (28 April 2021) ASX Announcement - 28m @ 12.1 g/t gold 1.5 km from NE Bankan (23 September 2021)

sediment geochemistry in 2019 and followed up with soil geochemistry and auger drilling in 2020 with some very encouraging gold results. The area is located at the south-eastern end of the 35km long major structural trend which extends for the full length of the Bankan permits.

A total of 49 holes for 2,287m were drilled on 9 traverses following up a number of previous auger gold soil anomalies (BKAC0116-152).

A best result of 26m @ 0.78g/t Au from 4m, including 8m @ 1.41g/t Au from 16m was intersected in BKAC0138. This hole was part of a single 4-hole traverse (BKAC0137-140) which targeted a 16m @ 0.87g/t Au auger anomaly SAMAU0221[7] . Anomalous gold was intersected in 3 of the 4 holes drilled. The mineralisation remains open to the north and south and requires further drilling.

Regional power auger drilling was carried out on new exploration targets with a total of 111 holes for 2,043m completed. Significant results are reported in Table 2.

Full results and a complete explanation of the methods followed in drilling and assaying the reported holes can be found in Tables 1-3.

NEXT STEPS

Auger drilling is now focused on two grids. One is located east of the NE Bankan area, to test the eastern extension of the Bankan Creek-NE Bankan ENE trend. The second is in the SE Saman area where initial auger and AC drilling has already identified encouraging gold values.

Diamond and AC drilling will be suspended for an end of year break on 18 December with crews returning to site in early January. One auger rig will continue drilling through the holiday period, manned by Kouroussa-based staff.

Drilling programs in 2022 will include a continuation of the NE Bankan deep drilling program, follow-up AC and RC drilling on regional targets and additional RC and DD drilling at Bankan Creek.

- END -

Predictive advises that it is not aware of any new information or data that materially affects the exploration results or mineral resource estimate contained in this announcement.

This announcement is authorised for release by Predictive Managing Director, Paul Roberts.

For further information visit our website at www.predictivediscovery.com or contact:

PAUL ROBERTS Managing Director Phone: +61 402 857 249 Email: [email protected]

7 ASX Release - NE Bankan now 1.6km long with possible parallel gold zone (3 September 2020)

Page 7 of 18

COMPETENT PERSONS STATEMENT

The exploration results reported herein are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts 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 Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Project Background

The Bankan gold camp is situated in north-east Guinea in West Africa. The project is 550km by road from Guinea’s capital Conakry within the region of Upper Guinea and is 10km west of the regional administrative centre of Kouroussa (Figure 4).

The Bankan project area covers 356km[2 ] in four exploration permits, Kaninko, Saman, Bokoro and Argo. Three permits are held by wholly owned subsidiaries of Predictive. The fourth, Argo, is held in a joint venture with the owners of local company Argo Mining SARLU, through which the Company has the right to acquire a 100% equity interest at decision to mine.

In September 2021 the Company reported its maiden Mineral Resource Estimate for the Bankan Project, resulting in an Inferred Resource of 72.8Mt averaging 1.56g/t Au for 3.65 million ounces of gold[8] , 91% of which came from NE Bankan, all for a very low resource discovery cost of $4/oz.

Gold mineralisation in the central portion of the NE Bankan prospect is strongly controlled by a major, northtrending west-dipping shear zone (the “hangingwall shear zone”), with most gold mineralisation including the high-grade zone located immediately below that shear zone within the felsic intrusive. Resource modelling indicates that the deep high-grade gold intercepts form a coherent body of high-grade mineralisation at a 3g/t Au cut-off grade. Depth extensions to the high-grade gold zone will increase potential for underground mining and are expected to add significantly to the Company’s resource inventory.

8ASX Announcement - 3.65 MILLION OUNCE BANKAN MAIDEN MINERAL RESOURCE ESTIMATE (30 September 2021)

Page 8 of 18

==> picture [499 x 388] intentionally omitted <==

Figure 4 - Predictive Discovery’s 100%-owned Guinea Portfolio of gold projects

==> picture [64 x 11] intentionally omitted <==

----- Start of picture text -----

Page 9 of 18
----- End of picture text -----

TABLE 1 – BANKAN PROJECT AIRCORE RESULTS

Hole No. UTM
29N
East
UTM 29N
North
RL
(GPS)
Hole
azimuth
Hole
dip
Hole
depth
0.25g/t gold cut-off Comments Licence
From Interval Au
g/t
BKAC0010A 396109 1173183 417 90 -55 50 18.0 6.0 0.43 Kaninko
46.0 2.0 0.34
BKAC0019A 396705 1174383 431 270 -55 50 30.0 4.0 0.31 Kaninko
BKAC0026A 395998 1175738 421 270 -55 50 6.0 10.0 0.59 Incl. 2m @1.64g/t Au
from 12m
Kaninko
32.0 2.0 0.45
38.0 2.0 0.63
BKAC0029A 396188 1174461 418 90 -50 25 NSR
BKAC0071 396106 1174544 417 90 -55 35 2.0 2.0 1.74 Kaninko
BKAC0072 396157 1174538 417 270 -55 38 NSR Kaninko
BKAC0073 396120 1174541 417 90 -55 41 NSR Kaninko
BKAC0074 396059 1173335 418 270 -55 50 30.0 6.0 0.30 Kaninko
BKAC0075 396102 1173330 420 270 -55 50 8.0 2.0 1.48 Kaninko
16.0 2.0 0.58
22.0 4.0 0.76
BKAC0076 396127 1173328 421 270 -55 48 8.0 6.0 1.71 Incl. 2m @ 3.78g/t
Au from 10m
Kaninko
BKAC0077 395999 1173329 417 90 -55 47 14.0 2.0 0.27 Kaninko
30.0 10.0 1.44 Incl. 6m @1.82g/t Au
from 34m
Kaninko
BKAC0078 396104 1173659 434 270 -55 50 20.0 8.0 0.75 Incl. 2m @ 2.05g/t Au
from 26m
Kaninko
36.0 14.0 0.98 Incl. 4m @ 2.47g/t
Au from 46m to EOH
BKAC0079 396062 1173662 431 270 -55 50 4.0 8.0 0.57 Kaninko
30.0 2.0 6.35
BKAC0080 396002 1173660 427 270 -55 50 NSR Kaninko
BKAC0081 396024 1173659 429 270 -55 50 4.0 4.0 0.32 Kaninko
12.0 2.0 0.34
36.0 2.0 0.88
BKAC0082 396050 1173660 430 270 -55 50 2.0 2.0 0.26 Kaninko
8.0 22.0 12.08 Incl. 4m @ 57.25g/t
Au from 12m,
including 2m@ 110.6
g/t Au from 14m
38.0 8.0 5.39 Incl. 4m @ 9.68g/t
Au from 40m
BKAC0083 396126 1173661 435 270 -55 50 28.0 4.0 0.39

Page 10 of 18

48.0 2.0 0.80
BKAC0084 395999 1173741 430 270 -55 50 NSR Kaninko
BKAC0085 396026 1173738 432 270 -55 50 NSR Kaninko
BKAC0086 396050 1173740 433 270 -55 50 NSR Kaninko
BKAC0087 396074 1173739 435 270 -55 49 NSR Kaninko
BKAC0088 396099 1173741 436 270 -55 50 NSR Kaninko
BKAC0089 396126 1173739 439 270 -55 50 NSR Kaninko
BKAC0090 396242 1173904 442 270 -55 50 NSR Kaninko
BKAC0091 396191 1173904 442 270 -55 47 NSR Kaninko
BKAC0092 396213 1173902 442 270 -55 50 NSR Kaninko
BKAC0093 396268 1173904 442 270 -55 50 NSR Kaninko
BKAC0094 396289 1173904 442 270 -55 50 NSR Kaninko
BKAC0095 396188 1173983 440 270 -55 50 NSR Kaninko
BKAC0096 396214 1173986 440 270 -55 42 6.0 6.0 0.95 Kaninko
BKAC0097 396265 1173984 441 270 -55 50 NSR Kaninko
BKAC0098 396291 1173983 441 270 -55 50 NSR Kaninko
BKAC0099 396189 1174065 438 270 -55 50 NSR Kaninko
BKAC0100 396215 1174065 439 270 -55 50 NSR Kaninko
BKAC0101 396239 1174064 440 270 -55 46 NSR Kaninko
BKAC0102 396266 1174064 440 270 -55 50 0.0 2.0 0.25 Kaninko
BKAC0103 396290 1174065 441 270 -55 50 NSR Kaninko
BKAC0104 396002 1173579 421 270 -55 49 NSR Kaninko
BKAC0105 396024 1173579 423 270 -55 49 NSR Kaninko
BKAC0106 396049 1173580 425 270 -55 34 6.0 2.0 0.26 Kaninko
BKAC0107 396078 1173580 427 270 -55 44 NSR Kaninko
BKAC0108 396103 1173578 429 270 -55 48 38.0 4.0 0.44 Kaninko
BKAC0109 396125 1173581 431 270 -55 48 NSR Kaninko
BKAC0110 396125 1173498 427 270 -55 48 NSR Kaninko
BKAC0111 396099 1173500 425 270 -55 49 NSR Kaninko
BKAC0112 396076 1173500 424 270 -55 40 NSR Kaninko
BKAC0113 396050 1173500 422 270 -55 48 NSR Kaninko
BKAC0114 396026 1173502 420 270 -55 36 NSR Kaninko
BKAC0115 396001 1173504 420 270 -55 50 NSR Kaninko
BKAC0116 405108 1170079 400 270 -55 50 NSR Saman
BKAC0117 405135 1170081 399 270 -55 47 NSR Saman
BKAC0118 405162 1170079 398 270 -55 50 NSR Saman
BKAC0119 405182 1170081 397 270 -55 50 NSR Saman
BKAC0120 405082 1170080 401 270 -55 46 NSR Saman
BKAC0121 405059 1170078 402 270 -55 39 NSR Saman

Page 11 of 18

BKAC0122 405034 1170079 403 270 -55 44 20.0 2.0 0.41 Saman
28.0 2.0 2.70
BKAC0123 405006 1170080 404 270 -55 44 NSR Saman
BKAC0124 404983 1170078 405 270 -55 46 NSR Saman
BKAC0125 404961 1170081 405 270 -55 47 NSR Saman
BKAC0126 404935 1170079 406 270 -55 37 NSR Saman
BKAC0127 404916 1170082 406 270 -55 36 NSR Saman
BKAC0128 404898 1170079 406 270 -55 45 NSR Saman
BKAC0129 404878 1170080 406 270 -55 48 NSR Saman
BKAC0130 405183 1169920 397 270 -55 42 NSR Saman
BKAC0131 405163 1169919 370 270 -55 42 NSR Saman
BKAC0132 405138 1169918 398 270 -55 50 NSR Saman
BKAC0133 405110 1169919 399 270 -55 50 NSR Saman
BKAC0134 405083 1169918 400 270 -55 45 NSR Saman
BKAC0135 405059 1169920 401 270 -55 45 NSR Saman
BKAC0136 405035 1169919 402 270 -55 43 NSR Saman
BKAC0137 406278 1167680 450 90 -55 50 46.0 4.0 0.48 Saman
BKAC0138 406330 1167679 447 270 -55 50 4.0 26.0 0.78 Incl. 8m @ 1.41g/t
Au from 16m
Saman
44.0 2.0 0.62
BKAC0139 406359 1167680 446 90 -55 50 6.0 2.0 0.31 Saman
BKAC0140 406408 1167679 446 270 -55 50 NSR Saman
BKAC0141 406645 1166640 441 270 -55 36 NSR Saman
BKAC0142 406596 1166641 440 90 -55 50 12.0 2.0 0.33 Saman
BKAC0143 406678 1166639 442 90 -55 50 NSR Saman
BKAC0144 406758 1166641 444 90 -55 50 8.0 4.0 1.39 Saman
BKAC0145 406810 1166642 445 270 -55 50 NSR Saman
BKAC0146 406841 1166640 437 90 -55 50 NSR Saman
BKAC0147 406890 1166641 448 270 -55 50 NSR Saman
BKAC0148 406357 1166641 436 90 -55 50 NSR Saman
BKAC0149 406404 1166639 437 270 -55 47 NSR Saman
BKAC0150 406728 1166640 443 270 -55 50 NSR Saman
BKAC0151 406733 1166399 443 270 -55 50 NSR Saman
BKAC0152 406683 1166399 441 90 -55 50 NSR Saman
BKAC0153 406644 1166402 439 0 -55 50 NSR Saman
BKAC0154 406594 1166401 444 0 -55 50 NSR Saman
BKAC0155 406492 1166481 437 0 -55 50 NSR Saman
BKAC0156 406444 1166480 439 0 -55 50 NSR Saman
BKAC0157 406490 1166319 440 0 -55 49 NSR Saman

Page 12 of 18

BKAC0158 406521 1166239 406 0 -55 26 NSR Saman
BKAC0158A 406524 1166240 420 0 -55 50 NSR Saman
BKAC0159 406570 1166241 420 0 -55 50 NSR Saman
BKAC0160 406436 1166316 414 0 -55 50 NSR Saman
BKAC0161 406328 1166319 400 0 -55 33 NSR Saman
BKAC0162 406808 1166800 432 0 -55 50 NSR Saman
BKAC0163 406756 1166800 445 0 -55 50 NSR Saman
BKAC0164 396876 1173419 427 0 -50 50 8.0 8.0 1.15 Kaninko
BKAC0165 396976 1173421 420 0 -50 50 26.0 2.0 0.38 Kaninko
BKAC0166 396951 1173421 422 0 -50 50 36.0 2.0 0.34 Kaninko
BKAC0167 396165 1174463 418 0 -50 34 NSR Kaninko
BKAC0168 396140 1174450 418 0 -50 29 NSR Kaninko
BKAC0169 396150 1174540 416 0 -50 18 NSR Kaninko
BKAC0169A 396155 1174541 416 0 -50 18 NSR Kaninko
BKAC0170 395922 1175820 418 0 -50 45 38.0 7.0 8.53 Incl. 2m @ 24.2g/t
Au from 40m.
Mineralised to EOH.
Saman
BKAC0171 396001 1175820 419 0 -50 50 NSR Saman
BKAC0172 395999 1175741 421 0 -50 50 6.0 6.0 0.66 Kaninko
28.0 6.0 0.96
38.0 2.0 0.36
48.0 2.0 0.36
BKAC0173 395914 1175742 419 0 -50 50 2.0 6.0 0.87 Kaninko
14.0 36.0 1.94 Incl. 2m @ 16.1g/t
Au from 32m and 4m
@ 5.4g/t Au from
40m. Mineralised to
EOH.
BKAC0174 396240 1174460 419 0 -50 20 NSR Kaninko
BKAC0175 396241 1174460 419 0 -50 32 NSR Kaninko
BKAC0176 396215 1174461 419 0 -50 20 NSR Kaninko

Page 13 of 18

TABLE 2 – POWER AUGER SIGNIFICANT RESULTS – BANKAN PROJECT

Hole numbers Northing
(WGS84-
29N)
Easting
(WGS84 –
29N)
RL Hole
dips
Azimuth Hole Depth From Interval Au (ppb)
BKAU0848 – 872,
BKAU1341-1386,
&
BKAU1857-1896,
111 holes totalling
2,043m
Refer to
Figure 1
for most
sample
locations
Refer to
Figure 1 for
most
sample
locations
375-
430
See
notes
All vertical Not
relevant to
vertical
holes
The holes
were 8-30m
deep with
an average
depth of
19m. Some
holes
stopped
short of the
target depth
because
they
encountered
wet samples
at shallow
depths
Not
relevant
to the
samples
described
in this
report
Not
relevant to
the
samples
described
in this
report
See notes and
Figure 1
BKAU1876 405104 1169843 397 -90 0 21 3 18 298
Notes: Only significant results are shown in this table. Power auger drilling is carried out with a 4WD mounted auger rig capable of
drilling vertical holes up to 30m deep. The target depth on this drill program was 20m. Up to 6 samples were collected in 4m intervals
and assayed for gold. The prepared drill samples were sent to the SGS laboratory in Bamako, Mali for pulverisation and fire assay gold
analysis. Reported results are for a calculated length-weighted composite starting from a depth of 4m (the average thickness of the
laterite – which is partly transported) to the end of each hole in Kaninko and Saman, and from 0m at Argo (no transported regolith
issue identified to date). The RL range for the power auger grid in the project areas are shown above in metres. Individual RLs are not
reported in this announcement because theyare not relevant to interpretingauger drill data of this type.

TABLE 3 - JORC CODE – AC & POWER AUGER DRILLING

Section 1: Sampling Techniques and Data

JORC Code Criteria Commentary Explanation Sampling Technique Nature and quality of sampling (eg cut Samples assayed were Aircore (AC) drill chips/core and Power Auger (Auger). channels, random chips, or specific specialised industry standard Auger: In all the power auger drill holes reported here, 2kg composite samples measurement tools appropriate to the were collected for every 4m downhole interval. minerals under investigation, such as downhole gamma sondes, or handheld AC: Individual one metre samples were collected from the cyclone and weighed. XRF instruments, etc). These examples Each sample was then riffle split producing a 1kg split sample. Two metre should not be taken as limiting the composite samples weighing approximately 2kg were submitted to the assay broad meaning of sampling Include laboratory by combining the individual 1kg riffle split sample from each metre reference to measures taken to ensure into a single bag. sample representivity and the appropriate calibration of any measurement tools or systems used. All samples were dried, crushed and pulverised at the SGS laboratory in Bamako Aspects of the determination of to produce a 50g fire assay charge with Au analysed by FAA505.

Page 14 of 18

mineralisation that are Material to the
Public Report.
In cases where ‘industry standard’
work has been done this would be
relatively simple (eg ‘reverse
circulation drilling was used to obtain
1 m samples from which 3 kg was
pulverised to produce a 30 g charge
for fire assay’). In other cases more
explanation may be required, such as
where there is coarse gold that has
inherent sampling problems. Unusual
commodities or mineralisation types
(eg submarine nodules) may warrant
disclosure of detailed information.
Duplicate samples were retained for re-assay.
Sampling was supervised by qualified geologists.
Drilling Drill type (eg core, reverse circulation,
open- hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details
(eg core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether
core is oriented and if so, by what
method, etc).
AC: Drilling company is IPGS (Industry Petroleum and Gas of Senegal)
Drill type is Aircore using a 3.5 inch diameter coring blade. Where hard layers
including quartz veins were encountered the blade was switched to a face
sampling AC/RC hammer bit.
Auger: Power auger drilling was carried out by ADS (African Drilling Services) using a
4WD-mounted power auger rig.
Drill Sample Recovery Method of recording and assessing
core and chip sample recoveries
and results assessed.
Measures taken to maximise
sample recovery and ensure
representative nature of the
samples.
Whether a relationship exists
between sample recovery and grade
and whether sample bias may have
occurred due to preferential
loss/gain of fine/coarse material.
Each 1 metre drill sample was weighed.
AC: Sample recoveries were in general high and no unusual measures were taken to
maximise sample recovery. Where samples became too wet or sample recovery and
quality decreased holes were stopped.
Significant sample bias is not expected with riffle splitting of saprolitic materials.
Auger: Sample recovery is not assessed for power auger drilling as it is a geochemical
method. In general, however, recoveries are good because the hole has to be cleared
by the screw-type rods in order for the drill rods to advance downwards.
Logging Whether core and chip samples
have been geologically and
geotechnical logged to a level of
detail to support appropriate
Mineral Resource estimation,
mining studies and metallurgical
studies.
Whether logging is qualitative
or quantitative in nature. Core
(or costean/Trench, channel,
etc) photography.
The total length and percentage of
the relevant intersections logged.
All drill samples were logged systematically for lithology, weathering and alteration and
minor minerals. Minor minerals are estimated quantitively.
None of the samples will not be used in a Mineral Resource estimation.
Sub-Sampling
Technique and
Sample Preparation
If core, whether cut or sawn and
whether quarter, half or all 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 and appropriateness of the
sample preparation technique.
Quality control procedures adopted
for all sub-sampling stages to
maximise representivity of samples.
Measures taken to ensure that the
sampling is representative of the in situ
material collected, including for instance
results for field duplicate/second-half
sampling. Whether sample sizes are
appropriate to the grain size of the
materialbeing sampled.
AC: The samples were collected by riffle splitting samples from large bags
collected directly from the cyclone on the drill rig. Sample condition is generally
dry or moist, however some samples are wet.
Auger: Each 4m to 5m interval in the composite interval was subsampled using a
scoop. No field duplicates were collected. One field duplicate was taken and
assayed every 50 samples.
The sampling methods are considered adequate for an AC and Auger drilling
program of this type.

Page 15 of 18

Quality of Assay Data
and Laboratory Tests
The nature, quality and
appropriateness of the assaying
and laboratory procedures used
and whether the technique is
considered partial or total.
For geophysical tools, spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make
and model, reading times, calibrations
factors applied and their derivation,
etc.
Nature of quality control procedures
adopted (eg standards, blanks,
duplicates, external laboratory
checks) and whether acceptable
levels of accuracy (ie lack of bias) and
precision have been established.
All samples were assayed by SGS technique FAA505 for gold with a detection limit of
5ppb Au. All samples with gold values exceeding 10g/t Au were re-assayed using SGS
method FAA515 with a detection limit of 0.01g/t Au.
Field duplicates, standards and blank samples were each submitted for every 15
samples on a rotating basis for Ac drilling but not Auger drilling.
Duplicate and standards analyses were all returned were within acceptable limits of
expected values.
Verification of
Sampling and
Assaying
The verification of significant
intersections by either independent
or alternative company personnel.
The use of twinned holes The
verification of significant
intersections by either independent
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 drilled for Auger. For AC some abandoned shallow AC
blade holes were redrilled with AC Hammer within 5m radius. These may be
considered twin holes in part.
No adjustment is assay data has been made.
Location of Data
points
Accuracy and quality of surveysused
tolocate drill holes (collar and down-
hole surveys), trenches, mine
workings and other locations used in
Mineral Resource estimation.
Specification of the grid system
used Quality and adequacy of
topographic control
Drill hole collar locations were recorded at the completion of each hole by hand-
held GPS.
Positional data was recorded in projection WGS84 UTM Zone 29N. Relative height
levels (RL) are relative to Above Mean Sea Level (AMSL) and assigned by draping
collars on DTM surface determined from aerial geophysical survey.
Hole locations may be re-surveyed using a digital GPS system later.
Data Spacing and
Distribution
Data spacing for reporting of
Exploration Results
Whether the data spacing and
distribution is sufficient to establish
the degree of geological and grade
continuity appropriate for the
Mineral Resource and Ore Reserve
estimation procedure(s) and
classifications applied.
Whether sample compositing has
been applied
AC: The drill holes were designed to follow up previously defined >0.25g/t Au
auger soil anomalies. Holes were either drilled heel to toe along traverses, or as
scissor pairs in opposite directions at each target. Hole target depths and spacing
were nominally 50m or as modified for heel to toe coverage. The intention of the
drilling is to obtain a complete sample of the oxidised gold mineralisation and
provide some indication of gold mineralisation orientations. All holes were angle
drilled at 50 or 55 degrees.
The adequacy of the current drill hole spacing for Mineral Resource estimation is
not yet known as an appropriate understanding of mineralisation and continuity
has not yet been established
Auger: Holes were located on 320m x 80m and 80m x 80m grids. This type of
drilling is not appropriate for the calculation of any Mineral Resource estimate.
Orientation of
Data in Relation to
Geological
Structure
Whether the orientation of
sampling achieves unbiased
sampling of possible structures
and the extent to which this is
known, considering the deposit
type.
If the relationship between the
drilling orientation and the
orientation of key mineralised
structures is considered to have
introduced a sampling bias, this
should be assessed and reported if
material.
There is very limited outcrop in the area but based on the Bankan NE deposit to the
north, and east west line orientation with holes inclined to the west and east was
considered most likely to test the target anomalies.
Sample Security The measures taken to ensure
sample security
Large samples are stored in guarded location close to the nearby Bankan
Village.
Samples were split and sealed (tied off in calico or plastic bags) at the drill site.
All samplespicked for analyses areplaced in clearlymarked bags and were

Page 16 of 18

stored securely on site before being picked up and transported to Bamako by
SGS truck.
Coarse rejects and pulps will be eventually recovered from SGS in Bamako and
stored at Predictive’s field office in Kouroussa.
Audits or Reviews The results of any audits or reviews
of sampling techniques and data
No reviews or audits of sampling techniques were conducted.
Section 2 Reporting of Exploration Results
Mineral Tenement
and Land Tenure
Status
Type, reference name/number,
location and ownership including
agreements or material issues with
third partiessuch asjoint ventures,
partnerships, overriding royalties,
native title interests, historical sites,
wilderness or national park and
environmental settings.
The security of the tenure held at the
time of reporting along with any
known impediments to obtaining a
licenceto operatein the area.
The Bankan Gold Project comprises 4 exploration permits, Kaninko (PDI 100%),
Saman (PDI 100%), Bokoro (PDI 100%) and Argo JV (right to earn 100% in JV with
local partner). Permits are held by Predictive subsidiaries in Guinea or in a joint
venture structure. Parts of the Kaninko and Saman permits overlap the
outermost buffer zone (or “transitional area”) of the Upper Niger National Park.
Exploration Done
by Other Parties
Acknowledgment and appraisal
ofexplorationby otherparties.
Predictive is not aware of any significant previous gold exploration over the
permit.
Geology Deposit type, geological setting
and style of mineralisation.
The geology of the permits consists of mafic volcanics and intrusives, granitic
rocks and minor metasediments.
Drill Hole Information A summary of all information material
to the understanding of the
exploration results including a
tabulation of the following
information for all Material drill holes:

easting and northing of the
drill hole collar

elevation or RL (Reduced Level
– elevation above sea level in
metres) of the drill hole collar

dip and azimuth of the hole

down hole length and
interception depth

hole length

If the exclusion of this
information is justified on the
basis that the information is not
Material and this exclusion does
not detract from the
understanding of the report,
the Competent Person should
clearly explain why this is the
case.
See the accompanying notes and Tables in this release.
Data Aggregation
Methods
In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (eg cutting of high
grades) and cut-off grades are
usually Material and should be
stated.
Where aggregate intercepts
incorporate short lengths of high
grade results and longer lengths of low
grade results, the procedure used for
such aggregation should be stated and
some typical examples of such
aggregations should be shown in
detail.
The assumptions used for any
reporting of metal equivalent values
should be clearlystated.
All mineralised intervals are reported on a weighted average basis.
AC: Drill sampling was in two metre composites intervals. Up to 2m (down-hole) of
internal waste is included for results reported at the 0.25g/t Au cut-off grade.
Auger: Kaninko and Saman area gold results are averaged from 4m depth to end of
hole. This removes the effect of false transported anomalies in laterite. For the Argo
area, no transported effects have been noted to date therefore gold results are
averaged from surface to end of hole.
Relationship Between
Mineralisation Widths
and Intercept Lengths
These relationships are particularly
important in the reporting of
Exploration Results
If the geometry of the
mineralisation with respect to the
drill hole angle is known, its nature
should be reported. If it is not
known and onlythe down hole
True widths have not been estimated as the overall orientation of mineralised
zones is not known.

Page 17 of 18

lengths are reported, there should
be a clear statement to this effect
(eg ‘down hole length, true width
not known’).
Diagrams Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These
should include, but not be limited to
a plan view of drill hole collar
locations and appropriate sectional
views.
Appropriate map and cross sections are included in this release.
Balanced Reporting Where comprehensive reporting of
all Exploration Results is not
practicable, representative
reporting of both low and high
grades and/or widths should be
practiced to avoid misleading
reporting of Exploration Results.
Comprehensive reporting of the drill results is provided in Table 1.
Other
Substantive
Exploration 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 and
method of treatment; metallurgical
test results;
bulk density, groundwater,
geotechnical and rock characteristics;
potential deleterious or contaminating
substances.
All other exploration data on this area has been reported previously by PDI.
Further Work The nature and scale of planned
further work (eg tests for lateral
extensions or large scale step out
drilling.
Diagrams clearly highlighting the areas
of possible extensions, including the
main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive.
The AC results form part of an ongoing regional exploration drill program to
follow up power auger drilling soil anomalies. Regional power auger drilling is
also ongoing testing new target areas.

Page 18 of 18