153 METRES OF 2.37 G/T GOLD AT PMI GOLD’S OBOTAN GOLD PROJECT, GHANA
(firmenpresse) -
153 METRES OF 2.37 G/T GOLD AT PMI GOLD’S OBOTAN GOLD PROJECT, GHANA
Long high grade gold intersections at Nkran, including:
153.40 metres (at) 2.37 g/t Au – including 46.00 metres (at) 5.23 g/t Au
124.24 metres (at) 2.25 g/t Au – including 35.32 metres (at) 4.10 g/t Au
Results confirm potential for significant new gold resource at Nkran
Results received from 43 of 65 drill holes, with balance expected mid September
NI 43-101 resource estimate, now under preparation by Hellman and Schofield in anticipation of proposed ASX listing and IPO, is expected imminently
Additional drilling will commence once all the current results have been compiled
August 10, 2010 - Vancouver BC - PMI Gold Corporation (TSX.V:PMV) - the Company is pleased to announce the results from the first 43 of 65 diamond drill holes recently completed at our Obotan Gold Project in Ghana. The program consisted of a total of 10,877 metres, with 6,315 metres in 35 resource definition drill holes and 4,562 metres in 30 quality control (QC) drill holes. The results of this definition and QC program have been added to the historical Obotan database of 2,930 drill holes totalling some 202,250 metres. A maiden NI 43-101 resource estimate for Obotan is currently under preparation. Drilling was completed at Nkran (holes labeled below with ‘NKC’ and ‘NKR’), Adubiaso (‘ADP’), Asuadai/Edubia (‘ASP’) and Abore (‘ABP’).
Douglas R. MacQuarrie, President and CEO commented: “We have achieved the objective of this drill program which was to confirm, and to commence expanding, the historical Obotan drill data base. The excellent grades, widths and continuity of the gold mineralization intersected in drilling at Nkran clearly indicate the potential of this zone for renewed mining activities – by either a pit push back or underground bulk mining techniques. In addition, significant near surface gold mineralization was noted at Adubiaso, Asuadai and Abore. Additional drilling will commence once all of the current results have been compiled.”
Table 1 – Significant Gold Intercepts (>10.00 g/t Au metres): http://www.irw-press.com/dokumente/PMV_100810_Table.pdf
Please see the following web links for the Drill Collar Data, Collar Plan map, and Drill Section 210325:
http://www.pmigoldcorp.com/i/maps/NR10-10DrillCollars.pdf
http://www.pmigoldcorp.com/i/maps/NR10-10DrillCollarPlan.jpg
http://www.pmigoldcorp.com/i/maps/NR10-10Section210325N.jpg
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 Donald Allen, MSc. P.Eng and Paul Abbott MSc., Consulting Geologists. HQ, and NQ core was logged, sawn and sampled on site, with half samples sent to SGS Laboratory in Tarkwa, and analyzed for gold by fire assay-AA on a 50 gram sample charge. Where visible gold was noted, on occasion both ½’s of the core were assayed after geological logging and photographing (please see http://www.pmigoldcorp.com/i/maps/NR10-10VGphotos.pdf for photos from the drill program). Internal QC consisted of inserting both blanks and standards into the sample stream and multiple re-assays of selected anomalous samples. Where multiple assays were received for an interval, the final value reported was the average of all results for the interval. Results from the QC program suggest that the reported results are accurate. The data also suggests that diamond drilling may understate the gold grades relative to reverse circulation drilling, based on the larger sample sizes obtained with RC drilling. Intercepts were calculated with a minimum 1.0 g/t Au cut off at the beginning and the end of the intercept and allowing for no more than ten consecutive metres of less than 1.0 g/t Au internal dilution. Intercepts above 10.0 g/t Au metres are reported separately. Grade x Width intercepts of less than 10.0 g/t Au metres were not reported. True widths are estimated at circa 70% of the stated core length.
On behalf of the Board,
"Douglas R. MacQuarrie"
President & CEO
For further information please contact:
Douglas MacQuarrie, President & CEO
Telephone: 1 (604) 682-8089 Toll-Free: 1 (888) 682-8089 Facsimile: 1 (604) 682-8094
or for European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814, e-mail: frram(at)aon.at
Or visit the PMI Gold Corporation website at www.pmigoldcorp.com
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.
Leseranfragen:
PMI Gold Corp.
Suite 511 - 475 Howe Street
Vancouver, BC
Kanada V6C 2B3
Tel.: +1 604-682-8089
Fax: +1 604-682-8094
Douglas R. MacQuarrie, P. Geo.
President & Chief Executive Officer
E-Mail: douglasmq(at)yahoo.com
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