PMI Gold gains more Obotan options
20th Aug 2012
AUG 20 – With the feasibility study for its 4.5Moz Obotan gold project near, PMI Gold gains more flexibility in infrastructure design and the opportunity to develop oxide resource targets close at hand through the $US6M acquisition of the contiguous Datano mining lease.
PMI received Ghanaian government approval on Aug 16 to acquire the 50sq.km lease area from local Midras Mining Company. The lease will give access to additional southern extensions of the Nkran and Fromenda structures. Settlement of the acquisition is targeted for end August.
CEO Collin Ellison says it will put another key element of the Obotan project in place.
Past exploration by Ashanti Gold Corporation and Kiwi Goldfields identified multiple targets associated with traversing lineaments within a 7km wide corridor of the Asankrangwa Gold Belt.
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