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 Background 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. |
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