Last month, Adansi had entered into a deal with Midras Mining Company to acquire the Datano Mining Lease for $6m, subject to receiving approval for the sale and transfer of the mining lease to Adansi.
The Ghanaian Minister of Lands, Forestry and Mines, M. Hammah has approved the assignment of the Datano-Manso Mining Lease from Midras to Adansi.
PMI Gold managing director and CEO Collin Ellison said the 50km² Datano Mining Lease is contiguous with the southern boundary of the Obotan Project and lies to the south of the main Nkran deposit.
Ellison added that this project provides the firm with access to the extensions of the mineralised Nkran and Fromenda structures and the opportunity to develop additional oxide resource targets close to Obotan.
"The lease area will also provide greater flexibility in the design of infrastructure within the Obotan Project Feasibility Study design, which is currently underway," Ellison said.
"This puts another key element of the overall Obotan Project in place as we move towards completing the Feasibility Study in the coming weeks."
