PMI Gold Corporation - First holes reported from 28 drill hole program,
Obotan Project, Ghana
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE
TSX Venture Exchange: PMV
US PMVGF.PK
Frankfurt/Berlin: AOJMW7
Issued & Outstanding: 197,340,954
The quality control (QC) holes, ADP09-002 and ADP09-005 were drilled between/in the vicinity of holes drilled by the previous operator Resolute Amansie Limited prior to their completion of mining in
The current QC drill results (italics) are presented in the table below, along with intersections (calculated from historical data) from below the bottom of the pit:
Table 1 - Significant Gold Intercepts from below or beside the Adubiaso Pit: ------------------------------------------------------------------------- Weighted Avg. Width Grade g/t Au Drill Hole From Metres To Metres Metres (uncut) ------------------------------------------------------------------------- ADP09-002 110.50 114.60 4.10 1.59 ------------------------------------------------------------------------- ADP09-005 101.00 107.00 6.00 5.67 ------------------------------------------------------------------------- including 101.00 101.50 0.50 17.20 ------------------------------------------------------------------------- including 105.50 106.00 0.50 24.95 ------------------------------------------------------------------------- including 106.00 106.50 0.50 18.60 ------------------------------------------------------------------------- DD269 43.50 52.50 9.00 2.55 ------------------------------------------------------------------------- including 43.50 44.50 1.00 13.45 ------------------------------------------------------------------------- DD521 134.00 135.00 1.00 12.16 ------------------------------------------------------------------------- 142.30 179.00 36.70 2.45 ------------------------------------------------------------------------- including 144.00 145.00 1.00 22.97 ------------------------------------------------------------------------- including 151.00 152.00 1.00 14.78 ------------------------------------------------------------------------- including 155.00 156.00 1.00 11.39 ------------------------------------------------------------------------- DD523 72.00 75.00 3.00 6.93 ------------------------------------------------------------------------- RC167 69.00 71.00 2.00 12.10 ------------------------------------------------------------------------- RC168 81.00 86.00 5.00 2.15 ------------------------------------------------------------------------- RC267 58.00 60.00 2.00 6.23 ------------------------------------------------------------------------- RC274 88.00 128.00 40.00 5.88 ------------------------------------------------------------------------- including 89.00 90.00 1.00 23.90 ------------------------------------------------------------------------- including 91.00 92.00 1.00 16.60 ------------------------------------------------------------------------- including 93.00 94.00 1.00 11.10 ------------------------------------------------------------------------- including 105.00 106.00 1.00 29.90 ------------------------------------------------------------------------- including 107.00 108.00 1.00 42.70 ------------------------------------------------------------------------- RC291 141.00 146.00 5.00 2.40 ------------------------------------------------------------------------- RC295 110.00 119.00 9.00 6.72 ------------------------------------------------------------------------- including 114.00 115.00 1.00 22.80 ------------------------------------------------------------------------- including 117.00 118.00 1.00 25.50 ------------------------------------------------------------------------- RC296 98.00 102.00 4.00 2.86 ------------------------------------------------------------------------- RC304 48.00 51.00 3.00 6.51 ------------------------------------------------------------------------- including 50.00 51.00 1.00 12.85 ------------------------------------------------------------------------- RC307 91.00 96.00 5.00 2.81 ------------------------------------------------------------------------- RC308 112.00 133.00 21.00 3.49 ------------------------------------------------------------------------- including 119.00 120.00 1.00 29.80 ------------------------------------------------------------------------- RC323 66.00 69.00 3.00 13.24 ------------------------------------------------------------------------- including 68.00 69.00 1.00 37.27 ------------------------------------------------------------------------- RC324 82.00 94.00 12.00 4.13 ------------------------------------------------------------------------- including 82.00 83.00 1.00 10.80 ------------------------------------------------------------------------- including 90.00 91.00 1.00 22.45 ------------------------------------------------------------------------- RC366 74.00 87.00 13.00 1.87 ------------------------------------------------------------------------- RC367 99.00 101.00 2.00 20.21 ------------------------------------------------------------------------- RC435 108.00 118.00 10.00 2.56 ------------------------------------------------------------------------- including 117.00 118.00 1.00 16.62 ------------------------------------------------------------------------- RC436 51.00 53.00 2.00 4.98 ------------------------------------------------------------------------- 109.00 121.00 12.00 3.57 ------------------------------------------------------------------------- including 110.00 111.00 1.00 13.89 ------------------------------------------------------------------------- RC488 81.00 82.00 1.00 25.85 ------------------------------------------------------------------------- 97.00 101.00 4.00 6.70 ------------------------------------------------------------------------- including 97.00 98.00 1.00 11.97 ------------------------------------------------------------------------- 139.00 143.00 4.00 2.27 ------------------------------------------------------------------------- RC451 100.00 116.00 16.00 3.00 ------------------------------------------------------------------------- including 110.00 111.00 1.00 10.96 ------------------------------------------------------------------------- including 114.00 115.00 1.00 10.79 ------------------------------------------------------------------------- RC583 54.00 57.00 3.00 2.62 ------------------------------------------------------------------------- RC585 58.00 61.00 3.00 4.25 ------------------------------------------------------------------------- RC587 55.00 61.00 6.00 2.21 ------------------------------------------------------------------------- RC589 58.00 60.00 2.00 7.36 ------------------------------------------------------------------------- RC590 37.00 40.00 3.00 14.26 ------------------------------------------------------------------------- including 39.00 40.00 1.00 34.45 ------------------------------------------------------------------------- RC590 52.00 53.00 1.00 8.95 ------------------------------------------------------------------------- RC635 34.00 37.00 3.00 4.20 ------------------------------------------------------------------------- 57.00 63.00 6.00 2.14 ------------------------------------------------------------------------- RC637 51.00 53.00 2.00 5.28 ------------------------------------------------------------------------- 80.00 110.00 30.00 6.08 ------------------------------------------------------------------------- including 82.00 83.00 1.00 131.40 ------------------------------------------------------------------------- including 96.00 97.00 1.00 14.95 ------------------------------------------------------------------------- RC648 101.00 105.00 4.00 22.47 ------------------------------------------------------------------------- including 101.00 102.00 1.00 62.93 ------------------------------------------------------------------------- including 102.00 103.00 1.00 23.77 ------------------------------------------------------------------------- RC651 28.00 29.00 1.00 6.02 ------------------------------------------------------------------------- RC856 91.00 93.00 2.00 3.23 ------------------------------------------------------------------------- 120.00 123.00 3.00 2.99 ------------------------------------------------------------------------- RC986 84.00 99.00 15.00 2.82 ------------------------------------------------------------------------- including 97.00 98.00 1.00 13.53 ------------------------------------------------------------------------- RC989 78.00 94.00 16.00 3.69 ------------------------------------------------------------------------- including 78.00 79.00 1.00 21.50 ------------------------------------------------------------------------- including 87.00 88.00 1.00 16.43 ------------------------------------------------------------------------- RCD278 133.00 140.00 7.00 4.51 ------------------------------------------------------------------------- including 135.00 136.00 1.00 15.00 ------------------------------------------------------------------------- RCD289 126.30 134.30 8.00 2.07 ------------------------------------------------------------------------- RCD327 135.00 140.00 5.00 5.32 ------------------------------------------------------------------------- including 139.00 140.00 1.00 14.75 ------------------------------------------------------------------------- RCD330 116.00 124.00 8.00 2.09 ------------------------------------------------------------------------- RCD333 136.00 145.00 9.00 2.94 ------------------------------------------------------------------------- 156.30 162.00 5.70 2.50 ------------------------------------------------------------------------- including 161.00 162.00 1.00 10.24 ------------------------------------------------------------------------- RCD337 126.00 144.00 18.00 4.53 ------------------------------------------------------------------------- including 135.00 136.00 1.00 41.05 ------------------------------------------------------------------------- RCD363 105.00 123.00 18.00 2.14 ------------------------------------------------------------------------- including 120.00 121.00 1.00 11.60 ------------------------------------------------------------------------- RCD368 111.00 113.00 2.00 3.13 ------------------------------------------------------------------------- 120.00 122.00 2.00 18.90 ------------------------------------------------------------------------- RCD411 118.00 122.00 4.00 3.47 ------------------------------------------------------------------------- RCD412 152.00 155.00 3.00 3.67 ------------------------------------------------------------------------- RCD413 123.00 124.00 1.00 6.92 ------------------------------------------------------------------------- 201.80 207.00 5.20 3.83 ------------------------------------------------------------------------- RCD414 214.00 216.50 2.50 5.97 ------------------------------------------------------------------------- RCD417 133.00 134.00 1.00 8.59 ------------------------------------------------------------------------- 203.80 214.00 10.20 3.93 ------------------------------------------------------------------------- including 203.80 204.20 0.40 28.78 ------------------------------------------------------------------------- including 211.00 212.00 1.00 14.41 ------------------------------------------------------------------------- RCD419 139.00 141.00 2.00 32.59 ------------------------------------------------------------------------- 197.00 203.00 6.00 3.30 ------------------------------------------------------------------------- including 202.00 203.00 1.00 13.44 ------------------------------------------------------------------------- RCD422B 170.00 182.8 12.80 2.68 ------------------------------------------------------------------------- including 173.00 174.00 1.00 12.11 ------------------------------------------------------------------------- RCD425 179.00 181.00 2.00 2.89 ------------------------------------------------------------------------- RCD426 159.00 161.00 2.00 3.51 ------------------------------------------------------------------------- RCD433 162.50 170.00 7.50 2.87 ------------------------------------------------------------------------- including 162.50 163.00 0.50 25.26 ------------------------------------------------------------------------- 181.00 183.00 2.00 5.11 ------------------------------------------------------------------------- RCD447 123.10 125.00 1.90 3.23 ------------------------------------------------------------------------- RCD453 115.00 118.20 3.20 22.13 ------------------------------------------------------------------------- including 117.30 118.20 0.90 68.25 ------------------------------------------------------------------------- 132.10 134.50 2.40 2.37 ------------------------------------------------------------------------- 137.60 139.80 2.20 4.17 ------------------------------------------------------------------------- 149.80 172.00 22.2 1.57 ------------------------------------------------------------------------- RCD455 110.00 128.00 18.00 3.05 ------------------------------------------------------------------------- including 125.60 126.60 1.00 17.50 ------------------------------------------------------------------------- 135.50 138.10 2.60 2.19 ------------------------------------------------------------------------- RCD456 127.00 131.00 4.00 5.34 ------------------------------------------------------------------------- 147.00 149.00 2.00 6.13 ------------------------------------------------------------------------- 173.00 174.00 1.00 29.48 ------------------------------------------------------------------------- RCD578 131.00 139.60 8.60 2.10 ------------------------------------------------------------------------- RCD631 109.00 110.00 1.00 10.56 ------------------------------------------------------------------------- 160.00 164.00 4.00 3.29 ------------------------------------------------------------------------- 180.00 190.00 10.00 3.73 ------------------------------------------------------------------------- including 184.00 185.00 1.00 13.56 ------------------------------------------------------------------------- 202.00 204.00 2.00 5.84 ------------------------------------------------------------------------- 209.60 213.00 3.40 3.73 ------------------------------------------------------------------------- including 209.60 210.00 0.40 30.78 ------------------------------------------------------------------------- RCD633 115.00 119.00 4.00 4.82 ------------------------------------------------------------------------- including 115.60 116.00 0.40 40.40 ------------------------------------------------------------------------- RCD946 304.00 306.00 2.00 3.24 -------------------------------------------------------------------------
Douglas R. MacQuarrie, President and CEO commented: "Our first two drill holes at the Adubiaso pit site have confirmed that significant near surface gold mineralization remains at this location. It is also particularly encouraging to note strong gold grades and widths under the pit. This suggests potential exists for developing "deep" resources in plunging ore shoots as is typical at our Nkran deposit and elsewhere in
Please see the following link for the Adubiaso Pit - Drill Collar Plan map: http://www.pmigoldcorp.com/i/maps/AdubiasoDrillPlanNRDec2309.pdf.
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
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.
For further information: Douglas R. 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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