/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/
TSX Venture Exchange: PMV
Issued & Outstanding: 194,854,481
VANCOUVER, Nov. 30 /CNW/ - PMI Gold Corporation (TSX.V:PMV) - the Company is pleased to announce that drill hole KV-09-517 has intersected mineralized garnet zone grading 3.76 g/t Au over a core length of 4.75 metres at a depth of 85.0 metres. The hole is a 25 metre step out to the north of previously announced discovery hole KV-09-513.
This new gold zone, referred to as the "513 Zone", was discovered by drilling a ground geophysical VLF-EM anomaly. Gold is associated with silicified, quartz veined, and sulfide rich garnet formation, similar in style to mineralization at our Kubi Main deposit located 1.2 km to the east (where a NI43-101 compliant mineral resource estimate of 604,085 oz Au Indicated; and 316,079 oz Au Inferred, has been outlined: please see: http://www.pmigoldcorp.com/i/pdf/Kubi_Preliminary_Assessment_May08.pdf).
In order to assist in prioritizing other VLF-EM targets prior to their drilling a test auger geochemical sampling program consisting of 890 metres in 224 holes has been completed and all samples submitted for assay. Holes were drilled on 12.5 metre centres across the four strongest VLF-EM anomalies located in the Target 1 area, including the 513 Zone anomaly (a detail map of the exploration target areas is available at: http://www.pmigoldcorp.com/i/maps/KubiCollarSep0909.jpg).
Further information will be released when and as available.
This news release has been prepared by Douglas R. MacQuarrie, P.Geo.(B.C.), a Qualified Person under National Instrument 43-101. Field work was supervised by Paul Abbott MSc, a member of the Geological Society of South Africa and with 21 years experience in West Africa. Mr. Abbott has consented to inclusion of this information in the form and context in which it appears. Drill core was logged, sawn and sampled at our facility in Dunkwa, with half HQ or NQ core samples sent to SGS ITS Bibiani Lab in Ghana. Samples were analyzed for gold by fire assay-AA finish on a 50 gram sample charge. Internal QC consisted of inserting both blanks and standards into the sample stream and multiple re-assays of selected anomalous samples. Grade x Width intercepts of less than 1 g/t metres were not reported. True widths are estimated at 70% to 80% of the stated core length. Visible gold was observed in certain sections of the core and additional sampling and ICP analysis is ongoing.
On behalf of the Board,
"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.
SOURCE PMI Gold Corporation
For further information: For further information: Douglas MacQuarrie, President & CEO, Telephone: (604) 682-8089, Toll-Free: (888) 682-8089, Facsimile: (604) 682-8094 or for European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814, e-mail: email@example.com, Or visit the PMI Gold Corporation website at www.pmigoldcorp.com