PMI Gold retires debt - Next phase Kubi drilling commences - Obotan oxide
review
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/ TSX Venture Exchange: PMV US PMVGF.PK Frankfurt/Berlin: AOJMW7 Issued & Outstanding: 185,444,570
In addition, the Company announces that the next phase of exploration drilling at Kubi will commence shortly, with a series of drill holes designed to test along strike and down dip of gold mineralization which was previously noted in hole KV-09-513 (please see our News Release dated September 9, 2009:
New drill targets are also being developed with a program of auger drilling to test for gold mineralization at the base of the alluvium in areas defined by our recent ground electromagnetic geophysics. Much of the Kubi project area is covered by circa 5 metre thick surficial deposits that geochemically mask underlying gold mineralization. The significant gold mineralization in hole KV-09-513, first outlined by the ground electromagnetic survey, had no definable surface geochemical signature.
The Company is also commencing a third party review of near surface gold resources that may remain at our Obotan Gold project in
Resolute published a final estimate of mineral resources at Obotan, post mining, in their 2003 Annual Report, filed with the Australian Stock Exchange: http://www.asx.com.au/asxpdf/20031021/pdf/3jfw9h0jq1yh9.pdf . For further information on our Obotan Gold Project, please also see our news release dated June 30, 2009: http://www.pmigoldcorp.com/s/News.asp?ReportID=354331&_Type=News-Releases&_Title=PMI-Gold-Updates-Obotan-Project-Ghana .
On behalf of the Board, "Douglas R. MacQuarrie" Douglas R. MacQuarrie President & CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. We Seek Safe Harbour.
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For further information: Douglas MacQuarrie, President & CEO, Telephone: (604) 682-8089, Toll-Free: 1 (888) 682-8089, Facsimile: (604) 682-8094 or for European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814, e-mail: [email protected]; Or visit the PMI Gold Corporation website at www.pmigoldcorp.com
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