Apologies if I seem to be harping on about this one but someone asked the question re assays from Fromenda and I've provided them below from the website.
Seems Fromenda has been forgotten by the market as another possible source of feed for Obotan but that's just IMO which doesn't count for much as I know nothing about gold mining.
Seems to be trading in some sort of a holding pattern atm and I doubt the new CEO joined the company to see it fall over.
First Phase of Drilling Completed at Fromenda Prospect Intersects Further High Grade Gold Values/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/
VANCOUVER, Aug. 22, 2012 /CNW/ -
Key Points:
•First phase of drilling has now been completed at the Fromenda Prospect, located 15km south-west of PMI Gold's Obotan Project, intersects further high grade gold mineralization of up to 38.18g/t Au. •A total of 68 RC drill holes have been drilled for 6,775m. Assay results from the remaining 55 holes have now been received. •The Fromenda Prospect lies within the Asankrangwa Gold Belt and sits on the prospective regional, north-east trending Fromenda Shear, which is parallel to the regional Nkran Shear to the west, at the intersection with favourable east-northeast trending cross-cutting structures. •Significant results received include (true width is 60-70% of the downhole intersection lengths): •26m @ 1.74g/t Au from 82m •40m @ 2.06g/t Au from 55m •17m @ 4.28g/t Au from 4m (including 3m @ 15.58g/t Au from 12m) •Results further confirm the occurrence of a gold system over a strike extent in excess of 500m, which remains open down-dip. PMI Gold Corporation (TSX-V: PMV) (ASX: PVM) is pleased to announce the further positive results for the first phase of RC drilling carried out at the Fromenda Prospect. The Prospect is located within the Obotan Exploration Area of Influence defined by a 15km trucking radius of the Nkran Deposit where a feasibility study is due for completion planned within the September Quarter, to evaluate a proposed 200,000oz per annum operation.
The prospect is situated on the north-east trending regional Fromenda Shear, which is interpreted from geophysical data to occur towards the eastern margin of a regional, north-east trending structural corridor which extends over the 70km strike extent of PMI's Asankrangwa tenements. The corridor comprises a parallel series of at least three continuous, shear zones (Abore, Nkran and Fromenda) interpreted to control the regional distribution of gold mineralization, particularly at intersections with cross-cutting east-northeast structures as characterizes PMI's Obotan deposits to the north (NI43-101 and JORC Code compliant Mineral Resource estimate of Measured Resources of 15.57M tonnes at a grade of 2.47g/t for 1.23Moz, Indicated Resources of 29.21M tonnes at a grade of 2.00g/t for 1.88Moz and Inferred Resources of 21.91M tonnes at a grade of 1.99g/t for 1.40Moz).
Drilling at the Fromenda Prospect commenced in February 2012, with 68 RC holes drilled for a total of 6,775m. The drilling program was planned to evaluate the broader extent of the mineralized system at shallow depths, with some infilling of the historical drill pattern over a previously delineated gold in soil anomaly. The results of 13 holes were released in April (refer to ASX/TSX release dated April 30th 2012). All outstanding assays have now been received, with significant gold intercepts (>0.5g/t Au) listed in Table 1.
Highlights of the remaining results include:
•NBRC12-021 5m @ 1.33g/t Au from 36m •NBRC12-030 2m @ 3.94g/t Au from 21m •NBRC12-035 36m @ 1.74g/t Au from 82m (including 1m @ 11.78g/t Au from 86m) •NBRC12-036 3m @ 2.07g/t Au from 116m •NBRC12-038 40m @ 2.06g/t Au from 55m •NBRC12-054 8m @ 6.80g/t Au from 18m (including 1m @ 38.18g/t Au from 25m) •NBRC12-055 17m @ 4.28g/t Au from 4m (including 3m @ 15.58g/t Au from 12m) Drilling has delineated a gold system over a strike extent in excess of 500m (Figure 2). Many of the largest gold deposits in Ghana have short strike lengths with substantial steep plunging deep roots. Gold is hosted in a steeply dipping stockwork of quartz veins hosted by a sequence of metavolcanics and sedimentary rocks (Figure 3). The drilling results have confirmed the internal continuity of known mineralization and extended it to depths in excess of 100m. It has also shown that the gold mineralization is open along strike to both the north and south, and is open down-dip offering the potential to be a more extensive system than presently drilled.
PMI Gold's Managing Director and CEO, Mr Collin Ellison, said the results from drilling at Fromenda clearly indicate the broader potential for the Fromenda Shear within the Belt to host significant gold mineralization.
"Further high grade values and broad intercepts received from the Fromenda Prospect confirm this area as a high priority target. Geological interpretations and modelling are ongoing to gain a greater understanding of the structural controls on mineralization and enable optimal planning of further drilling planned for later in the year."
On behalf of the Board,
"Collin Ellison" Managing Director & CEO
plus first round of RC drilling
Mon Apr 30, 2012 Positive Drilling Results Show Potential for Fromenda Prospect to add New Resources to Obotan Project
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Highlights: High-grade intersections of up to 27.35g/t from ongoing Reverse Circulation (RC) drilling at the Fromenda Prospect, located within the New Obuasi concession (see Figures 1 to 3), 15km south-west of the Obotan Gold Project. Results show the Fromenda mineralisation has the potential to provide future feed to the Obotan Plant. Fromenda lies within the Asankrangwa Gold Belt and sits on a magnetic linear (Fromenda Shear), which is parallel to the Nkran NE trending regional structure, and on the intersection with favourable ENE trending cross-cutting structures. 4,580m of RC drilling has been completed out of a planned 7,635m program to explore for new mineralization on the Fromenda Shear. Encouraging results received from first 13 drill holes include: 23m @ 1.17g/t Au from 67m including 4m @ 3.39g/t Au from 81m 21m @ 2.28g/t Au from 0m including 2m @ 13.65g/t Au from 3m 9m @ 4.56g/t Au from 45m including 3m @ 10.22g/t Au from 45m 22m @ 1.22g/t Au from 31m including 1m @ 12.50g/t Au from 45m 2m @ 27.35g/t Au from 1m 16m @1.08g/t Au from 24m 24m @ 1.48g/t Au from 52m including 2m @ 8.92g/t from 66m Results indicate the occurrence of a gold system over a strike extent in excess of 500m; providing confirmation of the down dip extension of gold mineralization intersected in previous historical drill holes, demonstrating that the mineralization is open at depth and along strike to both the north and south.
PMI Gold Corporation (TSX-V: PMV) (ASX: PVM) is pleased to announce that the Company's recently escalated regional gold exploration program in the Asankrangwa Gold Belt of Ghana has encountered continued early success with the intersection of significant (>1g/tAu) gold mineralisation in the maiden drilling program on its 100% owned Fromenda Prospect.
The prospect is strategically located, some 15km south of PMI'S Obotan gold camp (Figures 1 to 3) where drilling (2010 -- 2011) by the Company has delineated a NI 43 101 and JORC Code compliant Mineral Resource estimate of Measured: 15.57Mt grading 2.47g/t Au for 1.23Moz; Indicated: 29.21Mt grading 2.00g/t Au for 1.88Moz; and Inferred: 21.91Mt grading 1.99g/t Au for 1.40Moz.
The prospect is situated on the NE trending Fromenda Shear, which is interpreted from geophysical data to occur towards the eastern margin of a regional, NE trending structural corridor which extends over the 70km strike extent of PMI's Asankrangwa tenements. The corridor comprises a parallel series of at least three continuous, shear zones interpreted to control the regional distribution of gold mineralization, particularly at intersections with cross-cutting ENE structures, as characterises PMI's Obotan deposits to the north. At Obotan the gold mineralization is located on the Nkran and Abore shears located to the west of the Fromenda Shear.
Regionally, gold mineralisation was intersected in 1990's drilling by a range of companies along the entire strike extents of all NE trending structures comprising the corridor, and now consolidated for the first time as a single project owned by PMI's (Figure 2). Based on the historical exploration results, the Fromenda Shear and in particular the Fromenda Prospect (Figure 3) are considered by PMI to represent high priority exploration targets
These initial results indicate the potential for a more widely distributed mineralization, occurring in multiple, parallel zones, than indicated in superficial 1990's drilling by previous explorers (Figures 3 to 6). While more results are awaited and drilling remains relatively shallow (<100m), there are encouraging indications that the mineralization has broad continuity and extends down-dip. The results suggest that the mineralization is open at depth and along strike to the north and south, offering the potential to be a more extensive system, which could benefit from future economies due to its proximal location to PMI's Obotan Gold Project (Figure 2).
At Fromenda, RC drilling started in February 2012 and to date results of 1,248 samples have been received from 13 holes drilled (see Table 1). The RC drill program was planned primarily to evaluate the broader extent of the mineralized system at shallow depths, with some infilling parts of the historical drill pattern, over a previously delineated 500m-long gold in soil anomaly/mineralized zone.
Highlights of the results include (see table attached):
NBRC12-001 NBRC12-002
NBRC12-004 NBRC12-015 23m @ 1.17g/t Au from 67m including 4m @ 3.39g/t Au from 80m 21m @ 2.28g/t Au from 0m including 2m @ 13.65g/t Au from 3m 9m @ 4.56g/t Au from 45m including 3m @ 10.22g/t Au from 45m 22m @ 1.22g/t Au from 31m including 1m @ 12.50g/t Au from 45m 2m @ 27.35g/t Au from 1m 16m @1.08g/t Au from 24m 24m @ 1.48g/t Au from 52m including 2m @ 8.92g/t Au from 66m
Results of 33 holes are awaited from this initial drilling program, which is approximately 60 per cent complete.
Importantly, these initial results at Fromenda provide further encouragement to PMI in its commitment to a major regional gold exploration drive in the Asankrangwa Gold Belt (see Announcement dated April 16, 2012) of which +100,000m of drilling is planned in the first half of 2012. The earlier Kaniago drilling results (see Announcement dated April 18, 2012) clearly confirms the broader gold potential of all regional structures (Abore, Nkran and Fromenda Shears).
The gold endowment of the Asankrangwa Gold Belt has been confirmed by PMI's delineation of major mineral resources at Obotan, as well as the delineation of Keegan Resources Inc's Esaase Gold Deposit, located 12.5km north of Obotan on the Abore Shear. Combined, PMI's Obotan and Asanko Projects represent the largest strategic ground packages to have been successfully consolidated by a single company in the Asankrangwa Gold Belt.
On behalf of the Board,
"Collin Ellison"
PVM Price at posting:
33.0¢ Sentiment: Hold Disclosure: Held
