Thursday 8th December 2016

Resource Clips


Posts tagged ‘PMI Gold Corporation (PMV)’

PMI reports Ghana Gold Assays up to 3.33 g/t over 5m, 1.39 g/t over 8m

August 22nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPMI Gold Corp TSXV:PMV announced assays from its Kubi South Prospect, 1.5 kilometres south of the Kubi Main Deposit at its Kubi Project in Ghana. Highlights include

5.23 g/t gold over 1 metre
2.42 g/t over 2 metres
(including 4.1 g/t over 1 metre)
1.39 g/t over 8 metres
(including 2.56 g/t over 2 metres)
3.33 g/t over 5 metres
5.3 g/t over 2 metres
0.68 g/t over 4 metres
1 g/t over 2 metres
1.5 g/t over 2 metres
0.67 g/t over 10 metres
2.72 g/t over 1 metre
1.01 g/t over 3 metres

Managing Director/CEO Collin Ellison commented, “Assays from the exploration drive from the first half of 2012 continue to come in, with some very encouraging numbers. The results from each of the prospects will be evaluated, with further followup drilling on high-priority targets planned for the second half of 2012.”

View Company Profile

Marion McGrath
Corporate Secretary
604.684.6264
888.682.8089

Collin Ellison
Managing Director/CEO
61.8.6188.7900

by Kevin Michael Grace

PMI reports Ghana Results as high as 4.25 g/t Gold over 72m

February 22nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPMI Gold Corp TSXV:PMV announced assays from its Obotan Gold Project in Ghana. Highlights include

4.25 g/t gold over 72 metres
(including 7.68 g/t over 6 metres)
3.47 g/t over 60 metres
(including 14 g/t over 6 metres)
3.09 g/t over 65 metres
(including 20.49 g/t over 1 metre)
4.21 g/t over 28 metres
(including 5.56 g/t over 15 metres)
1.22 g/t over 63 metres
(including 4.72 g/t over 5 metres)
1.36 g/t over 61 metres
(including 4.82 g/t over 7 metres)

Obotan has an October 2011 resource estimate update of 14.67 million tonnes grading 2.66 g/t for 1.22 million gold ounces measured, 27.5 million tonnes grading 2.32 g/t for 2 million gold ounces indicated and 17.54 million tonnes grading 2.35 g/t for 1.29 million gold ounces inferred. The estimate uses a 0.5 g/t cutoff.

View Company Profile

Contact:
Marion McGrath
Corporate Secretary
604.684.6264
888.682.8089

Collin Ellison
Managing Director/CEO
61.8.6188.7900

by Greg Klein

PMI reports Ghana Gold Assays as high as 47.79 g/t over 3m

December 23rd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPMI Gold Corporation TSXV:PMV announced drill results from its Obotan gold project in Ghana, West Africa. Highlights include

7.45 g/t gold over 16 metres
3.08 g/t over 37 metres
1.88 g/t over 68 metres
47.79 g/t over 3 metres
5.4 g/t over 23 metres
20.27 g/t over 5 metres

The Obotan project has an NI 43-101 resource estimate of 3.22 million onces gold in the measured and indicated categories and 1.29 million ounces inferred. A prefeasibility study is scheduled to be completed by the end of 2011.

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Contact:
Marion McGrath
Corporate Secretary
604.684.6264

by Ted Niles

PMI Gold reports Ghana Gold Assays as high as 3.47 g/t over 30m

October 27th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPMI Gold Corporation TSXV:PMV announced results from its Obotan project in Ghana, West Africa. Assays include

3.28 g/t gold over 22 metres
3.47 g/t over 30 metres
3.41 g/t over 16 metres
51.17 g/t over 8 metres
3.11 g/t over 35 metres
2.32 g/t over 24 metres
4.33 g/t over 11 metres
2.74 g/t over 7.5 metres
1.62 g/t over 22 metres

The Obotan project has an NI 43-101 mineral resource estimate of 3.22 million ounces gold in the measured and indicated categories, and 1.29 million ounces inferred. The company expects a prefeasibility study on the project to be completed by December 2011.

View Company Profile

Contact:
Marion McGrath
Corporate Secretary
604.684.6264

by Ted Niles

PMI Gold President Collin Ellison on Ghana assays of 7.49 g/t gold over 80.1m

March 3rd, 2011

“Obotan was originally mined by Resolute Mining Limited. In 2002 Resolute decided it was uneconomic to proceed with deepening and exploiting the resources and returned the licenses to the government which PMI then acquired. The Obotan project consists of three different pits—the major one is the Nkran Pit and then there’s the Adubiaso and Abore. All three have been mined-out in an open pit. There is one fourth deposit, Edubia—not mined by Resolute—which fits into the Obotan project that hasn’t had any previous mining on it.

“What the company is seeking to do is to develop the resources beneath the previous pits, and then to rebuild an operation based on those resources. The original process plant has been sold and has gone, but the infrastructure, power lines, access roads, waste dumps, tailings dams—they’re essentially still in place. The company was also able to acquire all of Resolute’s historical operating information, which gives us confidence in the metallurgical recovery of gold from those ore bodies. Resolute’s plan prior to the cessation in mining was to develop an underground mine, particularly at Obotan, so there was significant drilling done. The data base from that drilling constitutes the major part of the resource and the resource estimate which PMI currently has. Presently there’s only a comparatively small proportion of the resource in the indicated category, the majority of the resource is in the inferred category. What we’ve been doing since is continuing to drill out those resources—particularly in the Nkran pit.

“What we released today was part of the ongoing drilling which achieves a number of objectives. One of which was to validate the accuracy and the resources developed by Resolute. The second objective was to drill between the lines that had previously been drilled, in order to close up the spacing and give us both confidence and extend resources along strike. The drilling was also intended to look at down-dip extension of resources. So the program, eventually, will end up with a conversion of the inferred resources and the inclusion of additional resources above and beyond what was outlined by Resolute. The purpose of all of this—in conjunction with the metallurgical test work, metallurgical drilling, geotechnical drilling and the rest of it—is to take this resource model, once we have it completed, and do an economic evaluation on it. If it stands up as we anticipate, that will then be the basis for a prefeasibility and feasibility study.

“The results today weren’t a surprise. They prove what we already knew about the project: it’s very robust, it has some very high grade intersections and it has the potential to make a new mine.

“We’ve got 70 square kilometres of tenements to the south of the Obotan tenement area, which have not been properly explored in the past. They had been held by a number of different companies, who each have done their own independent exploration and drilling and evaluation. PMI has acquired all of that land. We’ve put geophysics over the full package, and with the geophysics and the information we have from the historical work, we’ve been able to highlight the geological structures—in excess of 20 exploration targets which we need to explore. So what we’re going to do this year—with the additional rigs that we’ve now got committed—is to put parts of our focus into exploring and looking at developing the upside potential for PMI in the exploration tenements. The priority is to move Obotan to production, and that’s what our target is—to finish a prefeasibility and feasibility study—with the objective of turning it into an operating mine towards the end of 2013.

“We have the money in the bank, we don’t have any debt. We have some great people on site to develop these assets, but given the extension of the activities, we need to get some additional people to help manage all of the development and exploration activities in Ghana. That is the major factor that we have to achieve. In the meantime we’re using skilled contracting consultant staff to fill in the period until we have our own permanent staff on board. We see a very bright future for the company.”

View Company Profile

View Press Release Summary

PMI reports Ghana Gold Assays as high as 7.49 g/t over 80.1m

March 2nd, 2011

PMI Gold Corporation TSXV:PMV announced results from its Obotan Gold Project in Ghana. Assays include 2.21 g/t gold over 13.7 metres, 1.27 g/t over 246.2 metres (including 15.35 g/t over 1.2 metres), 1.05 g/t over 20.7 metres, 1.25 g/t over 10.3 metres, 9.58 g/t over 2.5 metres, 5.14 g/t over 8.33 metres, 5.33 g/t over 13.7 metres, 7.49 g/t over 80.1 metres (including 18.11 g/t over 5.5 metres and 17.61 g/t over 20.9 metres) and 1.17 g/t over 10 metres.

President/CEO Collin Ellison tells ResourceClips.com, “Obotan was originally mined by Resolute Mining Limited. In 2002 Resolute decided it was uneconomic to proceed with deepening and exploiting the resources and returned the licenses to the government which PMI then acquired. The Obotan project consists of three different pits—the major one is the Nkran Pit and then there’s the Adubiaso and Abore. All three have been mined-out in an open pit. There is one fourth deposit, Edubia—not mined by Resolute—which fits into the Obotan project that hasn’t had any previous mining on it.

“What the company is seeking to do is to develop the resources beneath the previous pits, and then to rebuild an operation based on those resources. The original process plant has been sold and has gone, but the infrastructure, power lines, access roads, waste dumps, tailings dams—they’re essentially still in place. The company was also able to acquire all of Resolute’s historical operating information, which gives us confidence in the metallurgical recovery of gold from those ore bodies. Resolute’s plan prior to the cessation in mining was to develop an underground mine, particularly at Obotan, so there was significant drilling done. The data base from that drilling constitutes the major part of the resource and the resource estimate which PMI currently has. Presently there’s only a comparatively small proportion of the resource in the indicated category, the majority of the resource is in the inferred category. What we’ve been doing since is continuing to drill out those resources—particularly in the Nkran pit.

“What we released today was part of the ongoing drilling which achieves a number of objectives. One of which was to validate the accuracy and the resources developed by Resolute. The second objective was to drill between the lines that had previously been drilled, in order to close up the spacing and give us both confidence and extend resources along strike. The drilling was also intended to look at down-dip extension of resources. So the program, eventually, will end up with a conversion of the inferred resources and the inclusion of additional resources above and beyond what was outlined by Resolute. The purpose of all of this—in conjunction with the metallurgical test work, metallurgical drilling, geotechnical drilling and the rest of it—is to take this resource model, once we have it completed, and do an economic evaluation on it. If it stands up as we anticipate, that will then be the basis for a prefeasibility and feasibility study.

“The results today weren’t a surprise,” Ellison continues. “They prove what we already knew about the project: it’s very robust, it has some very high grade intersections and it has the potential to make a new mine.

“We’ve got 70 square kilometres of tenements to the south of the Obotan tenement area, which have not been properly explored in the past. They had been held by a number of different companies, who each have done their own independent exploration and drilling and evaluation. PMI has acquired all of that land. We’ve put geophysics over the full package, and with the geophysics and the information we have from the historical work, we’ve been able to highlight the geological structures—in excess of 20 exploration targets which we need to explore. So what we’re going to do this year—with the additional rigs that we’ve now got committed—is to put parts of our focus into exploring and looking at developing the upside potential for PMI in the exploration tenements. The priority is to move Obotan to production, and that’s what our target is—to finish a prefeasibility and feasibility study—with the objective of turning it into an operating mine towards the end of 2013.

“We have the money in the bank, we don’t have any debt,” Ellison concludes. “We have some great people on site to develop these assets, but given the extension of the activities, we need to get some additional people to help manage all of the development and exploration activities in Ghana. That is the major factor that we have to achieve. In the meantime we’re using skilled contracting consultant staff to fill in the period until we have our own permanent staff on board. We see a very bright future for the company.”

View Company Profile

Contact:
Douglas MacQuarrie
Executive Director
604.682.8089

by Ted Niles

PMI reports Ghana Gold Assays up to 1.83 g/t over 218.2m

January 14th, 2011

PMI Gold Corporation PMV:CA announced drill results from the Nkran Deposit of its Obotan Gold Project in Ghana, West Africa. Assays include 1.83 g/t gold over 218.2 metres (including 101 g/t over 1 metre), 3.41 g/t over 45 metres (including 13.66 g/t over 6.7 metres), 2.21 g/t over 79.1 metres (including 65 g/t over 1 metre), 8.95 g/t over 12.7 metres and 1.15 g/t over 65 metres.

The Obotan Project has an indicated mineral resource estimate of 156,000 ounces gold and 1.1 million ounces inferred. Obotan was mined historically and produced 730,000 ounces gold before closing in 2002.

View Company Profile

Contact:
Douglas MacQuarrie
President/CEO
604.682.8089
or 888.682.8089

by Ted Niles