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
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 200m •8m @ 51.17g/t from 383m
•Confirmation 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 potential
•Results 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 2012
•Pre-feasibility study scheduled for completion at end of calendar 2011
•Three diamond core rigs currently active at Obotan on continued resource definition drilling
•Obotan, Kubi and Asankrangwa Project exploration drilling to accelerate in November with the arrival in country of two additional dedicated drill rigs
PVM Price at posting:
$1.00 Sentiment: Buy Disclosure: Held
