The Bankan Project, located within Guinea’s Siguiri Basin, is a greenfields gold discovery and the Company’s flagship project.
Since its discovery in April 2020, the Company has completed extensive drilling programs, substantially growing the known gold mineralisation and has made a second gold discovery at NE Bankan, just 3km from the initial discovery hole.
The Company is planning to deliver its Maiden Resource for Bankan Creek during the September quarter 2021.
Bankan Discovery & Exploration
In early July 2019, the Company announced the granting of the Kaninko Permit, which was originally identified through a district-scale analysis of the Siguiri Basin utilising the Company’s PredictoreTM methodology.
The exploration team undertook a shallow power auger drilling program which intersected encouraging intervals as high as 11.90g/t gold and outlined a NNE trending gold zone which delivered targets for deeper drilling.
The initial discovery hole at the NE Bankan returned 46m at 6.58 g/t gold from 4m (KKOAC001).
The drill results released to date show a clear progression of both increasing grade and grade consistency with increasing depth.
Recently released results demonstrate a high-grade gold zone that is 100-200m long, extends down-dip for over 250m and, very promisingly, is open at depth.
NE Bankan has been shaping up as a large gold deposit with excellent geometry for a large-scale open pit mine. These new results have added a whole new dimension to the project as it now appears that the core of the deposit contains consistently higher grades in a zone, which is expanding at depth. This offers clear justification for drilling deeper on this deposit.
The Company’s immediate task is to define the new high-grade zone by infill and extension drilling, with drilling focused on further defining and extending this zone expected to continue through the September quarter.
Recent drilling at NE Bankan intersected high to bonanza gold grades over broad widths with gold grade and consistency increasing with depth:
- 49.7m @ 11.7g/t Au from 301m, including:
- 17.0m @ 31.9g/t Au from 313m (including 7.0m @ 50.3g/t Au)
- 55.6m @ 5.7g/t Au from 237m, including:
- 40m @ 7.3g/t Au from 239m
- 44m @ 8.0g/t Au from 265m, including:
- 17m @ 18.1g/t Au from 273m
- 12.3m @ 6.7g/t Au from 338m, including:
- 3.9m @ 14.4g/t Au from 340m
These results revealed a high-grade gold core zone, outlined by nine high-grade intercepts, which is already 100-200m long, extends down-dip for over 250m and is open at depth.
Bankan Creek, the original discovery, has mineralisation defined over an area of 500m x 100m, with gold mineralisation intersected down to 200m vertical depth.
Recent results include:
- 18m @ 2.3g/t Au from 6m, and
- 26m @ 2.9g/t Au from 39m, including:
- 8m @ 6.3g/t Au from 50m
- 58m @ 1.4g/t Au from 72m, including:
- 14m @ 2.1g/t Au from 91m, and
- 6.4m @ 4.6g/t Au from 114m
The Mineral Resource drilling program has been carried out on 40m spaced lines with a 40-80m hole spacing along lines. The drilling planned for the maiden Mineral Resource estimate is now complete, with the estimate expected to be released in the September quarter.
Mineralisation at Bankan Creek currently extends for approximately 300m along strike and remains open to depth and to the south.