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After 6 years of land acquisition and exploration in Ghana, Africa's #2 gold producer, we are now focused on bringing our projects to near term production. We control 14 concessions covering 750 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.
Previous operators have recorded total gold production from our properties of near 800,000 ounces, with current NI 43-101 compliant resources of 604,085 ounces Indicated, and 315,079 ounces Inferred (mineral resources that are not reserves do not have demonstrated economic viability). Our lead development project Kubi, is located immediately south of and adjacent to the largest underground gold mine in West Africa and one of the largest in the World -- the 60 million ounce Obuasi mine. We have also recently commissioned a resource estimate for our Abore, Adubiaso, Edubia and Fromenda projects where strong gold intersections in drilling, and local and or large scale mining have taken place and where significant gold mineralization has been outlined. The mining infrastructure in Ghana is well developed and there is currently excess milling capacity. We plan on developing our projects using contract mining, contract trucking and toll milling -- the shortest, lowest cost, and most profitable route to production. A recent scoping study at Kubi suggested production of up to 65,000 ounces per year from a 950 tpd underground mine with a 7 year mine life. In addition, we have outlined a one to two million ounce underground exploration target at our Nkran project where drilling of a 30 to 50 metre wide, steeply plunging zone under the previously mined Nkran pit (530,000 oz @2.2g/t) has yielded results to 50 m @6.4 g/t gold. We plan to grow our resources over time by aggressive exploration throughout our extensive property holdings.
We invite you to grow with us.
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Financial Statements Quarterly Report for the period ending December 31, 2009 Feb 04, 2010 News Releases Significant Drill Results Highlighted for New Resource Estimate at Obotan Gold P... Jan 14, 2010 News Releases Private Placement To Raise Minimum Of $3 Million Announced For Ghana Gold Projec...
Pressemitteilung
Link to the latest PMI Gold news releases in German Google Earth Link to Google Earth and 3D of Nkran Pit Powerpoint Link to the latest PMI Powerpoint |
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