PMI VENTURES UPDATE
westafricangold.com
PMI VENTURES LTD. COMMENCES DRILL PROGRAM AT ASHANTI II DEEP GOLD PROJECT
PMI Ventures Ltd. (the “Company”) [TSX Venture:PMV], is pleased to announce that drilling has commenced on the Ashanti II Deep Gold Project in Ghana, West Africa.
An initial program consisting of 1,050 metres of diamond drilling in 8 to 10 holes is planned. The first target being tested is in the Grid "B" area of the Fromenda concession. Other drill targets lie along strike in the old Kukunapi Mine area on the Gemap concession, located 20 km southwest of the Fromenda Grid "B" area, and in the Fromenda Grid “A” area where geophysical analysis and testing has identified previously unexplored sulphide mineralized quartz reefs.
At the Ashanti Obuasi mine, located 40 km to the east of the project area, similar type gold sulphide quartz reef mineralization occurs in raking ore shoots that generally average less than 200 metres in length, 4 to 30 metres in width, and may extend to depths greater than 2 km.
The object of this drill program is to confirm the previous trench and rotary percussion drill results, extend the zones to depth, and determine the rake direction of the gold mineralization. Additional diamond drilling and exploration work on the project area will be based upon the results from this initial drill program.
PMI has an option to earn up to 85% of the interest that Goknet Mining Company Limited of Accra, Ghana, holds in exploration concessions and applications covering an area of some 400 sq km along a length of 50 km of the axis of the Asankrangwa Gold Belt in southwestern Ghana. Goknets' interests vary from 85% to 100%, subject to a 10% non-participating interest in favor of the Government of Ghana. |
