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Market: TSX-V / ASX
Sector: General Mining - Gold
EPIC: PMV
Latest Price: C$0.83  (-2.35% Descending)
52-week High: C$1.40
52-week Low: C$0.44
Market Cap: C$216.65M
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PMI Gold Corp
www.pmigoldcorp.com

After 6 years of land acquisition and exploration in Ghana, Africa's #2 gold producer, PMI Gold is now focused on bringing its projects to near term production. PMI Gold controls 12 concessions covering 537 sq km -- in the heart of Ghana's major gold belts. Our holdings on the Asankrangwa gold belt alone are more than 70 km long -- the equivalent length of the entire Carlin Trend in Nevada -- and cover 3 past producing large scale mines and dozens of small historical operations.

Full PMI Gold Corp profile here
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PMI Gold drills broad gold mineralization at Obotan

6th May 2011, 7:22 pm by Deborah Sterescu

Junior explorer PMI Gold Corp (CVE:PMV) (ASX:PVM) reported Wednesday broad intersections of gold mineralization from the Nkran deposit at its Obotan project in Ghana, paving the way for a resource upgrade in the third quarter.

Significant intercepts from the latest four diamond drill holes include 64.1 metres at 1.83 g/t gold, including 17.6 metres at 2.42 g/t gold in hole NKR11-033; 21.0 metres at 1.79 g/t gold including 10.2 metres at 2.87 g/t gold and 4.4 metres at 5.16 g/t gold in hole NKR11-034; and 3.0 metres at 18.38 g/t gold in hole NKR11-032.

In addition, hole NKR11-035 intersected 55.1 metres at 1.63 g/t gold, including 20.0 metres at 2.25 g/t gold and 3.0 metres at 4.58 g/t gold.

The company said the broad widths of the intervals, within 350 metres from surface and below the base of the previously-mined open pit, confirm the potential for extensions both at depth and on strike.

Obotan comprises four known deposits – the larger Nkran deposit, and the smaller satellite deposits at Abore, Adubiaso and Asuadi. The current resource for the property is estimated at 156,000 indicated ounces of gold, plus 1.05 million inferred ounces.

The asset was previously mined by Resolute Limited, before closing prematurely in 2002 after producing a total of 730,000 ounces at an average grade of 2.2 g/t gold.

To date, PMI has drilled 19,000 metres of its 40,000 metre infill drilling program at the project, with three drill rigs currently active. Additional rigs are scheduled to start in the second half of the year on the satellite targets.

PMI said that it is on track to complete a pre-feasibility study for Obotan by year-end.

The company holds an extensive land position within the Asankrangwa gold belt in Ghana, including Obotan and its Kubi project.

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