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PMI Gold now has interests in 12 concessions known as the Ashanti II Gold Project, and located on the Asankrangwa Gold Belt, and in two Mining Leases and four concessions on the Ashanti Gold Belt, for a total area of 526 square kms.

Asankrangwa Gold Belt

The bulk of Ghana's 90 million ounces of gold production has come from the Ashanti and Bibiani Gold Belts. Situated in between these is the lesser known, however still very prospective, Asankrangwa Gold Belt. PMI Gold's Ashanti II Gold Project covers 70 kms of this Belt and includes dozens of historical local mining operations and three recent modern mines.

Interest in the Asankrangwa Gold Belt was renewed in 1995 after the first modern airborne magnetic survey was completed over southwest Ghana. The survey identified major deformation zones and cross structures that were spatially related to Ashanti's mega gold mine at Obuasi and to the numerous historical gold mines and showings that define the Belt.

Subsequently, PMI Gold acquired the former Obotan mine concessions (see below) and conducted over US$5 million in work programs over the balance of the Asankrangwa concessions, including ground and airborne geophysical surveying, drilling and a review by SRK Consultants Inc. This review established 17 regional target areas for further detailed exploration for large gold deposits. To date, only 6 of these targets have been partially drill tested.

Obotan >>

Edubia >>

Kaniago (Adansi) >>

Ashanti Gold Belt

PMI Gold Corp reached an agreement with Nevsun Africa (Barbados) Ltd., a wholly owned subsidiary of Nevsun Resources Ltd. of Canada, to purchase its Kubi Gold Project located 20 kms south of AngloGold Ashanti's Obuasi mine and 46 kms southeast of our Obotan Gold Project.

PMI Gold has purchased all of the shares of Nevsun Resources (Ghana) Ltd. ("NS Ghana"), a Barbados registered company, which holds the Kubi Gold Project interests, for 9 million shares in the capital stock of PMI Gold, and US$3million. In addition, Nevsun retains the right to a seat on the Board of Directors of PMI Gold.

Local artisanal miners first developed Kubi in the 1920s with eight adits being driven. In 1988 BHP (now BHP Billiton), during a major reconnaissance soil survey along the western margin of the Ashanti gold belt, outlined strong gold anomalies near the old workings and completed a program of ground geophysics and drilling.

NS Ghana optioned the property from BHP in 1993. Subsequently, they completed extensive exploration at Kubi in the mid through late 1990's, and defined gold mineralization in a near vertical 1.0 to 15.0 metre thick gold, garnet, and sulfide rich horizon. Diamond core drilling in 217 holes totalling 70,000 metres has defined the mineralized zone over an 1,800 metre long by up to 700 metre deep block contained within a northeast trending shear zone at the contact between Birimian and Tarkwaiian metasediments.

In 1999, NS Ghana transferred the property to Ashanti, who in return for cash and royalty payments to NS Ghana, mined from two small pits 58,696 ounces of gold in 500,230 tonnes of oxide ore grading 3.65 g/t gold, with the recovered grade 28% higher than Ashanti's modelled grade. In 2006/2007 Ashanti backfilled the pits and completed the bulk of the reclamation, with the final phase pending PMI Gold's near term development plans. The western part of the property, comprising the Kubi Mining leases, have now been returned to NS Ghana.

Kubi >>

Gyimigya & Dunkwa >>

Ofoase >>

Bankame >>