PMV..... PMI Gold drills eight m of 51.17 g/t Au at Obotan
2011-10-26 13:06 MT - News Release
Mr. Collin Ellison reports
PMI GOLD -- LATEST DRILLING AT OBOTAN PROJECT CONFIRMS RECENT RESOURCE MODEL; FURTHER ROBUST RESULTS TO HELP UNDERPIN THE FUTURE POTENTIAL AT OBOTAN AND THE FEASIBILITY RESOURCE UPDATE PLANNED FOR JANUARY QUARTER 2012
PMI Gold Corp. has released assays from an additional 35 diamond drill holes for 7,614 metres from its Obotan project in Ghana (see attached table). Results for these holes were received after finalization of the Oct. 13, 2011, resource estimate and will be included in the planned January, 2012, quarter revised resource estimate for the bankable feasibility study.
Highlights:
Results from latest resource extension and in-fill drilling at PMI Gold's flagship Nkran deposit at the Obotan Gold Project (Ghana) continues to confirm the internal continuity of the deposit and the occurrence of a higher grade core with further wide and high grade intersections, including:30m @ 3.47g/t from 200m8m @ 51.17g/t from 383mConfirmation of the steep southerly plunging, higher grade central stockwork zone extending from below the base of the Resolute mined Nkran open pit, down to the lower limit of the drilled resource, indicating deeper underground potentialResults in accord with the recently updated (October 2011) resource estimate and block model and will be incorporated in a resource re-estimate, planned for January Quarter of 2012Pre-feasibility study scheduled for completion at end of calendar 2011Three diamond core rigs currently active at Obotan on continued resource definition drillingObotan, Kubi and Asankrangwa Project exploration drilling to accelerate in November with the arrival in country of two additional dedicated drill rigs
Drilling Results, Obotan Project Obotan, which offers the opportunity for a near-term development project, is the Company's flagship gold project in south-west Ghana (Figure 1). The project comprises four known deposits, the larger Nkran deposit, and the smaller satellite deposits at Abore, Adubiaso and Asuadai (Figure 2). |
