CA Market News
6日前
Pelangio Exploration Reports Interim Drill Results from the Manfo Project, Ghana; Drilling to Transition to Dankran with Further Drilling Planned at ManfoJune 1, 2026 8:29 PM
NewsfileToronto, Ontario--(Newsfile Corp. - June 1, 2026) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") reports interim results from its ongoing drilling program on its 100% owned Manfo Project and provides an update on its exploration programs, including a planned transition to drilling to the Dankran property upon completion of this phase of the Manfo drilling program and the planned Controlled Source Electromagnetic ("CSEM") surveys to be conducted at both Manfo and Obuasi.The updated 2,900-metre resource expansion drilling program at the Pokukrom East and West deposits is approximately 72% complete, with seven of fourteen planned holes completed and two additional holes nearing completion. Assay results have been received for six holes and additional assay results will be reported as they become available. Following completion of the current phase, drilling is expected to move to the Dankran property to follow up on previous encouraging results, while the reverse-circulation drilling program at Manfo will be scheduled for the dry season later in the year after completion of the CSEM survey. Highlights Drilling program approximately 72% complete, with completion expected in JulyPokukrom East deposit remains open to the north, south and at depthInitial infill drilling indicates potential for incremental resource growthAssays pending for additional holes, including broad zones of alterationPlanned CSEM surveys to support improved drill targeting at Manfo and ObuasiFollow-up drilling planned at Dankran based on prior resultsManfo drilling to resume later in the yearThe Manfo Gold Project hosts an updated Mineral Resource Estimate completed by SEMS Technical Services of Ghana and filed on Sedar+ on September 10, 202 comprising an Indicated Mineral Resource of 441,000 ounces of gold at an average grade of 1.16 g/t Au (11.8 million tonnes), and an Inferred Mineral Resource of 396,000 ounces of gold at an average grade of 0.77 g/t Au (16.0 million tonnes).The current drilling program is designed to expand mineralization beyond the limits of the existing resource and to further define the continuity of mineralized zones, while ongoing exploration will continue to evaluate additional targets across the project.Ingrid Hibbard, President and CEO of Pelangio, commented: "The current phase of drilling at Manfo is contributing to our understanding of the existing mineral resource and identifying opportunities for further expansion. With additional results pending, this phase represents an important step in advancing the project. Upon the completion of this phase of drilling at Manfo drilling will transition to our Dankran property, where previous drilling has identified high-grade mineralization. In parallel, we will be completing CSEM surveys that will be applied across our Ghana portfolio, beginning at our Obuasi property before being extended to Manfo. We expect to return to Manfo with the benefit of this additional data to guide subsequent drilling focused on both extending known mineralization and evaluating new targets across the property."Manfo Drilling Program and Results The current diamond drilling program commenced in late January to test for extensions to the existing resource at the Pokukrom deposits. The program was refined to fourteen holes totaling approximately 2,900 metres, of which 2,093 metres have been drilled to date.Pokukrom West Drilling at Pokukrom West focused on evaluating the continuity and limits of known mineralization. Three holes were drilled and all assays have been received. SPDD26-01 was drilled to evaluate the transition between high-grade oxide and lower-grade fresh rock near the centre of the deposit and returned 12 metres grading 0.94 g/t Au in line with the fresh rock below and is not expected to have a significant impact on the Pokukrom West Resource. The remaining two holes were designed to test for extensions of mineralization at Pokukrom West and although Hole SPDD26-003 encountered 12 meters of strong alteration, the assays were weak with 3 meters of 0.46 g/t Au returned providing clarity that allows exploration efforts to be redirected to higher-priority targets across the property. Pokukrom East At Pokukrom East, four holes have been completed, with results received for three holes, and two dditional holes are currently in progress and approximately 80% complete. Holes SPDD26-005 and SPDD26-006, drilled at moderately shallow levels towards the northern end of the deposit, were designed to infill a gap in the resource drilling and potentially contribute to resource growth. Both holes returned multiple zones of weak to modest grade mineralization, generally in line with or slightly below surrounding historical results and are expected to have a modest positive impact on the current resource.Hole SPDD26-007 was drilled approximately 110 meters down-plunge of historical hole SPDD-180, which returned 17 meters grading 0.82 g/t Au, 38 meters grading 0.72 g/t Au, and 55 meters grading 1.20 g/t Au, including 14 meters of 2.50 g/t Au. SPDD26-007 intersected approximately 95 meters of moderate to strong sericite ± silica ± pyrite alteration, interpreted to represent part of the broader hydrothermal system; however, gold assays within this interval were limited and returned lower than expected values. As part of ongoing quality assurance, sample pulps and rejects from the altered interval have been submitted to independent laboratories for check assaying using both fire assay and PhotonAssay™ methods. Drill hole SPDD26-008, located above and north of SPDD26-007, intersected a broader zone of alteration (approximately 140 meters core length), with assay results pending and expected shortly. Drill holes SPDD26-009 and SPDD26-010 are in progress and nearing completion.The mineralization at Pokukrom East remains open to the north and south and down-dip at the shallower southern end of the deposit. The current program has six holes left to be completed to test for extensions to the mineralization in these areas and assays are pending for the last completed hole SPDD26-008.Refer to Table 1 and Figure 1.Next Steps and Exploration Strategy The current drilling program is expected to conclude in July, with all assay results anticipated by late July. The current phase of drilling forms part of a broader exploration program designed to systematically test extensions to known mineralized zones and evaluate additional targets within the Manfo project area. This current phase consists of 14 planned drill holes and results from six holes have been received and are reported here. Assays for the remaining holes will be reported as they become available. Upon completion of the current phase of drilling at Manfo, the Company plans to transition drilling activities to its Dankran property. A 700-800-meter diamond drilling program is planned for Pelangio's Dankran property on the northeast side of its Obuasi property to follow-up the maiden RC drilling program whose results included 2 meters of 6.07 g/t Au and 3 meters of 14.17 g/t Au. Refer to Pelangio's July 21, 2021 news release "Pelangio Exploration Reports Results from Maiden RC Drill Program at Dankran Project, Ghana". This transition is expected to allow for the efficient continuation of field operations while additional work is completed at Manfo in advance of the next phase of drilling. The Company plans to complete a Controlled Source Electromagnetic ("CSEM") survey as part of its ongoing exploration activities in Ghana. The survey will initially be undertaken at the Obuasi property and subsequently extended to selected areas of the Manfo project. The survey is designed to identify conductive zones at depth that may be associated with sulphide mineralization and will be integrated with existing geological, geochemical, and geophysical datasets. The results from the Manfo survey are expected to support the refinement of drill targets for the next phase of drilling, when the Company returns to the Manfo project following completion of work at Dankran.At Manfo, the previously planned deep down-plunge hole planned at Pokukrom East and the 3,700-meter reverse-circulation exploration drilling program planned to test targets at Bomfaa, Nfante East and Nkansu will be postponed until November-December when the dry season is on. Methodology, Quality Assurance/Quality ControlDiamond drilling was conducted using an SA13000 small footprint diamond drill rig augmented by a small Hydracore rig. HQ coring was conducted in the oxide, which ranged from 5 to 40 meters and averaged 20 meters deep, followed by NQ2 coring to the bottom of hole. The drill holes were spotted in the field with a hand-held GPS with a locational accuracy of +/- 5 meters. Drill collar positions will be surveyed more accurately at a later date. A Champ-Magshot multi-shot survey instrument was used for down-hole survey readings every 12 meters, and a core orientation instrument is employed in the drilling program to enable accurate 3D measurement of geological features and structure.Samples were obtained nominally at 1-meter intervals by sawing the drill core in half with a diamond saw and submitting half core to the Intertek Minerals Limited laboratory in Tarkwa, Ghana for low-detection (0.01 ppm) 50g Fire Assay plus AA finish for gold. QA/QC samples, including certified standards, blanks and duplicates, were inserted into the sample stream at a rate of one in ten samples. The QA/QC results were well within acceptable limits. The laboratory also performed their own internal QA/QC checks, which were also acceptable. The true thicknesses of the mineralized drill intercepts reported here ranged from 73 to 88% of core length for holes SPDD26-005, -006 and -007 up to 90% of core length for hole SPDD26-001.Table 1. Interim Assay Results from Diamond Drilling on the Pokukrom Deposits, Manfo ProjectDHIDDepositEastNorthLengthAzimDipFromToIntervalAu
UTMUTM(m)(o)(o)(m)(m)(m)(g/t)SPDD26-001Poku West578,929756,219111.5297-506577120.94
incl.68.68712.322.78SPDD26-002Poku West578,840756,10570.7297-45
N.S.V.SPDD26-003Poku West579,147756,482351.3297-6529529830.46SPDD26-005Poku East579,651756,393168.7117-507.75168.250.51
3237.155.150.64
11712030.34
126141150.58
15515941.07
163165.52.51.72SPDD26-006Poku East579,592756,416211.6117-4896.1311215.870.25
12713690.76
incl.12713931.67
20421170.28SPDD26-007Poku East579,573756,561401117-69236.22414.80.35
33834460.28
35035111.00SPDD26-008Poku East579,622756,574348.2117-66hole completed & sampled, assays pendingSPDD26-009Poku East579,175755,986182*122-63* Drilling in progressSPDD26-010Poku East579,669756,608248*120-55* Drilling in progress
total2,093m
Intersections are calculated with a 0.25 g/t cut-off and a maximum of four metres of internal dilution unless otherwise indicated.Only gold intercepts > 1 Gram X Meter are listed.N.S.V. = No Significant Values (all < 0.25 g/t) Figure 1. Pokukrom East Vertical Long-section with Drill Status and ResultsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6179/299756_9c3f0543745f5baf_001full.jpgFigure 2. Pokukrom West Vertical Long-section with Drill Status and ResultsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6179/299756_9c3f0543745f5baf_002full.jpgQualified Person Mr. Kevin Thomson, P.Geo. (Ontario, #0191), Senior Vice-President, Exploration and Director, is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the scientific and technical disclosure in this release. About Pelangio Exploration Inc.:Pelangio Exploration Inc. is a Canadian mineral exploration company focused on advancing gold projects in Ghana and Canada. The Company's principal asset is the 100% owned Manfo Gold Project in the Sefwi Gold Belt, which hosts an NI 43-101 compliant mineral resource and is the focus of ongoing drilling and exploration. In Ghana, Pelangio also holds the Dankran property, where previous work has identified high-grade gold mineralization with potential for follow-up drilling, along with the Obuasi property where early-stage exploration is underway. Pelangio's exploration programs are designed to expand known mineralization and evaluate new targets through a disciplined and systematic approachFor additional information, please visit our website at www.pelangio.com, or contact: Ingrid Hibbard, President and CEO Tel: 905-336-3828 / / Email: info@pelangio.comForward-Looking Statements: Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's ability to complete proposed targeted infill drilling, step-out drilling and exploration to further define and expand the resource base, as well as further drilling at Pokukrom East and the other deposits, potential expansion of the Resource, potential conversion of Inferred to Indicated ounces, planned work programs, advancing technical studies, future development decisions, the potential addition of satellite deposits, the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, the Company's plans to follow-up on previous work, and the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, inability to obtain necessary approvals or permits in Ghana, gold price volatility, political developments in Ghana and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299756 Original: Pelangio Exploration Reports Interim Drill Results from the Manfo Project, Ghana; Drilling to Transition to Dankran with Further Drilling Planned at Manfo
CA Market News
3月前
Pelangio Exploration Commissions a Deep-Penetrating CSEM Survey for the Obuasi and Manfo Projects, GhanaFebruary 27, 2026 7:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - February 27, 2026) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") is pleased to announce that a controlled-source electromagnetic ("CSEM") survey has been commissioned for the Obuasi and Manfo projects to be conducted by SEMS Exploration Services of Ghana. CSEM surveys will be conducted on Pelangio's Obuasi and Manfo projects to delineate targets up to 1+ kilometre depth below prospective exploration target areas.On Pelangio's Obuasi project, the survey will be conducted in tandem with an AngloGold Ashanti survey on the Obuasi mine property. Pelangio's portion of the two surveys will cover Pelangio's Obuasi Targets Area interpreted to be on strike with the Obuasi Mine's Main Au Trend. AngloGold Ashanti's survey covers the north-northeastern extension of their Main Au Trend, within the Obuasi Mine property.The survey is intended to search for conductive and resistive targets at depths of up to 1+ kilometer which could represent repetitions of the large, high-grade Obuasi ore shoots extending to the north-northeast. The northernmost known ore shoot at the Obuasi mine, the 'Far North Shoot' (AKA Adansi Shoot), sits approximately 4.2 kilometers south-southwest of Pelangio's property boundary at a depth of 700+ meters.The CSEM survey on the Manfo property will follow the Obuasi surveys and will explore for deep targets below (down-dip and down-plunge of) the Pokukrom East and West deposits.CSEM (Controlled Source Electromagnetic Survey) DetailsPelangio Exploration has commissioned SEMS Exploration Services of Ghana to conduct CSEM surveys on their Obuasi and Manfo projects to explore for mineral targets at depths up to 1 kilometre or more. Controlled source electromagnetics is an active EM method where an electromagnetic signal is 'injected' into the ground with the response measured at multiple stations in a grid array. The SEMS survey will employ an IRIS Instruments TIP 12000 transmitter powered by a 20kVA generator to create the EM signal with the subsurface response read by two Metronics Magneto-Telluric (MT) grade receiver units working on a 170-meter grid node spacing. The CSEM method is effective at detecting conductive features and mapping resistive bodies at shallow to intermediate depths (up to several km) and could be effective at resolving Obuasi-style mineralization (conductive sulphide ore and resistive gold-bearing quartz lodes) comfortably to a depth of 1 kilometre or more. The Magneto-Telluric (MT) method in comparison, which is a passive EM method, is a much broader frequency survey enabling deep imaging (to tens of kilometres), although at a considerably lower resolution than CSEM can provide and requiring much longer survey times.Pelangio's Obuasi survey will cover the 'Obuasi Targets Area' on the western edge of the property, interpreted to be on strike with the Obuasi Mine's Main Au Trend. See Figure 1. The survey will cover an area of 9.2km² with 295 170-meter spaced stations. AngloGold Ashanti will conduct a parallel CSEM survey extending Pelangio's survey into their mine property with 333 stations over an area of 10.4 km². While SEMS will be conducting the survey over both properties, the surveys are independent of one another and a possible data-sharing agreement has not been discussed.The northernmost known (from public information) orebody on the Main Au Trend at the Obuasi Mine is the 'Far North' ore shoot, also referred to as the Adansi ore shoot in some literature. Refer to AngloGold Ashanti's Obuasi Underground Analyst Site Visit presentation posted on their website on March 17, 2025. The Far North ore shoot is situated approximately 4.2 kilometre's south-southwest of Pelangio's property boundary at a depth of 700+ meters. It is believed that if there is a repetition of the Obuasi Mine ore shoots to the north and into Pelangio's property, it may be at depths comparable to the Far North ore shoot as there is little evidence of large-scale near-surface mineralization observed in the soil geochemistry and historical diamond drilling on Pelangio's ground.The Obuasi CSEM surveys are tentatively planned to commence in mid-April once the equipment is mobilized from Sweden and will require approximately two months to complete if the weather is mostly favourable. Another month will be required for 3D inversion modelling of the data plus reporting with recommendations.Following the Obuasi surveys, a smaller CSEM survey is planned for the Manfo project covering the area of the Pokukrom deposits plus the possible down-plunge extensions to the northeast. An area of 2.8 km² will be surveyed with 100 EM stations. The survey is not targeting as deep as at Obuasi but is intended to explore for mineralization deeper than the current drill program is planning to test.Manfo Drilling UpdateResource extensional diamond drilling continues on the Manfo project focussed on the Pokukrom deposits. Three holes of the 15-hole, 3,150-meter program are nearly complete. There are no assays to report as yet.Figure 1. District Geology and Location of Planned Obuasi CSEM SurveyTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6179/285550_573371abc444ca6d_001full.jpgThe Obuasi Au trends depicted above are from AngloGold Ashanti's Obuasi Underground Analyst Site Visit presentation, p.10, posted on their website on March 17, 2025. The location of the Far North (Adansi) ore shoot is estimated from p.31 of the same presentation.Figure 2. Planned Manfo CSEM Survey Relative to the Pokukrom DepositsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6179/285550_573371abc444ca6d_002full.jpgQualified Person Mr. Kevin Thomson, P.Geo. (Ontario, #0191), Senior Vice-President, Exploration and Director, is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the scientific and technical disclosure in this release. About Pelangio Exploration Inc.:For additional information, please visit our website at www.pelangio.com, or contact: Ingrid Hibbard, President and CEO Tel: 905-336-3828 / / Email: info@pelangio.comForward-Looking Statements: Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's ability to complete proposed targeted infill drilling, step-out drilling and exploration to further define and expand the resource base, as well as further drilling at Pokukrom East and the other deposits, potential expansion of the Resource, potential conversion of Inferred to Indicated ounces, planned work programs, advancing technical studies, future development decisions, the potential addition of satellite deposits, the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, the Company's plans to follow-up on previous work, and the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, inability to obtain necessary approvals or permits in Ghana, gold price volatility, political developments in Ghana and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285550
Original: Pelangio Exploration Commissions a Deep-Penetrating CSEM Survey for the Obuasi and Manfo Projects, Ghana
CA Market News
4月前
Pelangio Refiles Technical Report for Manfo Gold ProjectJanuary 26, 2026 10:00 PM
NewsfileToronto, Ontario--(Newsfile Corp. - January 26, 2026) - Pelangio Exploration Inc. (TSXV: PX) ("Pelangio" or the "Company") announces that, as a result of an issue oriented continuous disclosure review by staff of the Ontario Securities Commission ("OSC"), the Company has amended and refiled its technical report for the Manfo Gold Project, Ghana (the "Technical Report"). As a consequence of the OSC Review, the Company amended the Technical Report to bring it into conformity with certain requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The amended and refiled Technical Report may be found on the Company's website and SEDAR+.Items addressed in the amended Technical ReportQualified Person authorship: Mr. Andrew Netherwood was removed as an author and Simon Meadows Smith of SEMS Technical has assumed responsibility for the relevant sections of the report.Date and signature page: Mr. Elliot Wehrle was removed from the signature page. Simon Meadows Smith of SEMS Technical has signed the report for the portions prepared or supervised.Appendices: The Company reduced and streamlined Appendices B (drill intercepts), C (QA/QC plots), D (variograms), and E (cross-sections) to align with the requirement that a technical report is a summary document. Essential methodologies, parameters, and conclusions are retained in the main body.About PelangioPelangio acquires and explores prospective land packages located in gold belts in Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of eight near-surface gold discoveries, and the 284 km2 Obuasi property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine, as well as the Dankran property located adjacent to its Obuasi property.For additional information, please visit our website at www.pelangio.com, or contact: Ingrid Hibbard, President and CEOT: 905-336-3828 // E: info@pelangio.comForward-Looking Statements: Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the, the Company's strategy of acquiring, and exploring prospective land packages in areas of sizeable gold mineralization. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, inability to obtain necessary approvals or permits in Ghana, gold price volatility, political developments in Ghana and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281684
Original: Pelangio Refiles Technical Report for Manfo Gold Project
NYBob
1年前
Dome Mines Limited a Canadian mining company that existed from 1910 to 1987.
Is CEO Tony Makuch) to Restart Dome by purchase of Newmont Porcupine,
which includes the Dome Mine and some adjacent properties.
Dome Mine has been the largest gold producer in Canada and in North America.
Pelangio Exploration Inc's - Dome West property on the border to Dome Mine -
Discovery Silver (ceo Tony Makuch) is finalizing its purchase of Newmont Porcupine,
which includes the Dome Mine and some adjacent properties.
There is talk of rebooting Goldcorp's proposed Century Project, which involves
expanding the Dome open pit to mine beneath the Dome Mill, or underground mining -.
The most plausible location for a new mill would be Dome West property,
which is a .5 square km parcel 800 m from the Dome mill, and .5 km from
the Paymaster mine, which Discovery Silver will own 35%.
Pelangio owns Dome West. Tony Makuch is an advisor to the board of Pelangio.
Believe in coincidence?
Pelangio Intersects Prospective Vipond Stratigraphy at Dome West Project, Timmins, Ontario
Topic:
Company Update
Wednesday, 09 March 2022 07:00 AM
TORONTO, ON / ACCESSWIRE / March 9, 2022 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that is has completed 1446.50 meters of diamond drilling in two holes at its Dome WestProject located 800 meters west of Newmont's prolific Dome Mine in Timmins, Ontario.
Highlights:
Both drill holes intersected substantial sections of the prospective Vipond stratigraphy known to host a significant portion of the gold bearing zones at the adjoining Dome and Paymaster Mines.
The Vipond stratigraphy within the Pelangio holes had a number of prospective vein systems well mineralized with pyrite and tourmaline. The Vipond sections within the Pelangio drill core exhibited strong pervasive alteration.
The Company's exploration efforts to date in conjunction with data from adjoining mines has demonstrated that Pelangio's Dome West property hosts a large portion of under explored Vipond stratigraphy with approximately 400 meters of strike length and extending at depth from approximately 300 m to a minimum of 1300 m below surface.
A single drill hole completed by Pelangio in 2019 demonstrated the gold potential of this project with assay values of 3.21 g/t gold over 1.25 m including 4.754 g/t gold over 0.75 m.
Ingrid Hibbard, President and CEO commented, "The Dome West property is located just 800 meters from the second largest gold mine in the Timmins Camp. The recent drill program was designed to test for gold mineralization hosted in the Vipond Formation, interpreted from historical data plus our 2019 drill hole, to enter the property from approximately 300 meters vertical depth. The program successfully intersected large widths of Vipond stratigraphy in both holes with extensive alteration and several zones of quartz veining, however the assays for gold were negligible. With 400 meters of strike of prospective geology on the Dome West property and drilling to date effectively only testing one drill section, further drilling along strike is warranted to test for potentially economic mineralization."
Dome West Property (See Figures 1 to 3)
Dome West is located in the main portion of the Timmins mining camp. It is comprised of 10 mining cells or 56 hectares of mineral rights located approximately 800 meters west of Newmont's Dome Mine and 450 meters northwest of the former Paymaster Mine.
The recently completed program was designed to test three specific targets. The primary target of the program was potential new veins or vein systems within the Vipond stratigraphy known to host substantial gold mineralization at the adjoining Dome and Paymaster Mines. (see Fig. 2 and 3) Secondary targets included the strike and down dip extension of known gold mineralization in the Krist Fragmental unit and feldspar porphyritic intrusives on former adjoining Paymaster Mine holdings as shown in historical underground drill holes in the accompanying Fig.1.
Both Pelangio drill holes DW2101 and DW2102 cored extensive intervals of the Vipond stratigraphy, and within the Vipond package a number of prospective veins were intersected. These veins were often well mineralized with both pyrite and tourmaline; however, no significant gold values were noted. These veins were associated with considerable pervasive alteration, all indicative of a highly prospective environment for gold mineralization. Pelangio's drilling to date and historical data from adjoining mines has shown that the Vipond volcanic package has a 400 meter strike length and extends from approximately 300 to 1300 meters below surface on the Pelangio holdings.
The Company is incorporating this information to plot the next stage of exploration on this well located highly prospective gold prospect. A significant drill program will be required to fully evaluate the gold potential of this project.
ONTARIO OJEP EXPLORATION GRANT
Further, the Company wishes to acknowledge the contribution by the Province of Ontario to Pelangio's Dome West Project. The corporation was awarded a $150,000 grant through the Province's OJEP program, which assists junior exploration companies with their exploration efforts in Ontario. This grant made a significant contribution to the cost-effective, early-stage evaluation of this project.
Figure 1: Dome West Area Location Map
Pelangio Exploration Inc. , Wednesday, March 9, 2022, Press release picture
Figure 2: Historical Composite Level Plan with Geology
Pelangio Exploration Inc. , Wednesday, March 9, 2022, Press release picture
Figure 3: Composite Drill Section of Pelangio Drill Holes
Pelangio Exploration Inc. , Wednesday, March 9, 2022, Press release picture
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario #0221), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of eight near-surface gold discoveries, and the 284 km2 Obuasi property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine, as well as the newly optioned Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario at its Dome West property, situated some 800 meters from the Dome Mine in Timmins; at its Gowan polymetallic project, located 16 km east of the Kidd Creek Mine. See www.pelangio.com for further detail on all Pelangio's properties.
For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
T: 905-336-3828 / TF: 1-877-746-1632 / E: info@pelangio.com
$10,000 Gold Still On The Horizon Despite Volatility
March 01, 2025
$10,000 gold is still on the horizon despite volatility.
https://kingworldnews.com/10000-gold-still-on-the-horizon-despite-volatility/
Pelangio Exploration Inc. - Exhibitor Booth No 2237 -
https://pelangio.com/
Booth No.2237
Exhibitor Type: Investors Exchange
Booth No. 2237
https://pdac.ca/convention-2025/exhibits-2025/exhibitor-directory-2025/pelangio-exploration-inc-2025
PELANGIO EXPLORATION INC.- OBUASI MINE - ANGLO - IS ONE OF THE
RICHEST GOLD MINES IN THE WORLD -
IMO!
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Still for pennies bargain?....
https://pelangio.com/projects/ghana/obuasi/
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🚨 Trump Orders FBI to Investigate Bill Gates for 'Blitzing America With Toxic Chemtrails'
You’ve seen them - those eerie, geometric streaks crisscrossing the sky, unnaturally precise, a phenomenon dismissed by the mainstream media in their relentless gaslighting of humanity.… pic.twitter.com/JcUeEzA19N— TPV Sean (@tpvsean) February 26, 2025
Paul Craig Roberts – WHOSE GOLD, IF ANYONE’S, IS IN FT. KNOX
https://kingworldnews.com/paul-craig-roberts-whose-gold-if-anyones-is-in-ft-knox/
NYBob
1年前
Dome Mines Limited a Canadian mining company that existed from 1910 to 1987.
Is CEO Tony Makuch) to Restart Dome by purchase of Newmont Porcupine,
which includes the Dome Mine and some adjacent properties.
Dome Mine has been the largest gold producer in Canada and in North America.
Pelangio Exploration Inc's - Dome West property on the border to Dome Mine -
Discovery Silver (ceo Tony Makuch) is finalizing its purchase of Newmont Porcupine,
which includes the Dome Mine and some adjacent properties.
There is talk of rebooting Goldcorp's proposed Century Project, which involves
expanding the Dome open pit to mine beneath the Dome Mill, or underground mining -.
The most plausible location for a new mill would be Dome West property,
which is a .5 square km parcel 800 m from the Dome mill, and .5 km from
the Paymaster mine, which Discovery Silver will own 35%.
Pelangio owns Dome West. Tony Makuch is an advisor to the board of Pelangio.
Believe in coincidence?
$10,000 Gold Still On The Horizon Despite Volatility
March 01, 2025
$10,000 gold is still on the horizon despite volatility.
https://kingworldnews.com/10000-gold-still-on-the-horizon-despite-volatility/
Pelangio Exploration Inc. - Exhibitor Booth No 2237 -
https://pelangio.com/
Booth No.2237
Exhibitor Type: Investors Exchange
Booth No. 2237
https://pdac.ca/convention-2025/exhibits-2025/exhibitor-directory-2025/pelangio-exploration-inc-2025
PELANGIO EXPLORATION INC.- OBUASI MINE - ANGLO - IS ONE OF THE
RICHEST GOLD MINES IN THE WORLD -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175015670
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174399334
Still for pennies bargain?....
https://pelangio.com/projects/ghana/obuasi/
Pelangio Intersects Prospective Vipond Stratigraphy at Dome West Project, Timmins, Ontario
Topic:
Company Update
Wednesday, 09 March 2022 07:00 AM
TORONTO, ON / ACCESSWIRE / March 9, 2022 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that is has completed 1446.50 meters of diamond drilling in two holes at its Dome WestProject located 800 meters west of Newmont's prolific Dome Mine in Timmins, Ontario.
Highlights:
Both drill holes intersected substantial sections of the prospective Vipond stratigraphy known to host a significant portion of the gold bearing zones at the adjoining Dome and Paymaster Mines.
The Vipond stratigraphy within the Pelangio holes had a number of prospective vein systems well mineralized with pyrite and tourmaline. The Vipond sections within the Pelangio drill core exhibited strong pervasive alteration.
The Company's exploration efforts to date in conjunction with data from adjoining mines has demonstrated that Pelangio's Dome West property hosts a large portion of under explored Vipond stratigraphy with approximately 400 meters of strike length and extending at depth from approximately 300 m to a minimum of 1300 m below surface.
A single drill hole completed by Pelangio in 2019 demonstrated the gold potential of this project with assay values of 3.21 g/t gold over 1.25 m including 4.754 g/t gold over 0.75 m.
Ingrid Hibbard, President and CEO commented, "The Dome West property is located just 800 meters from the second largest gold mine in the Timmins Camp. The recent drill program was designed to test for gold mineralization hosted in the Vipond Formation, interpreted from historical data plus our 2019 drill hole, to enter the property from approximately 300 meters vertical depth. The program successfully intersected large widths of Vipond stratigraphy in both holes with extensive alteration and several zones of quartz veining, however the assays for gold were negligible. With 400 meters of strike of prospective geology on the Dome West property and drilling to date effectively only testing one drill section, further drilling along strike is warranted to test for potentially economic mineralization."
Dome West Property (See Figures 1 to 3)
Dome West is located in the main portion of the Timmins mining camp. It is comprised of 10 mining cells or 56 hectares of mineral rights located approximately 800 meters west of Newmont's Dome Mine and 450 meters northwest of the former Paymaster Mine.
The recently completed program was designed to test three specific targets. The primary target of the program was potential new veins or vein systems within the Vipond stratigraphy known to host substantial gold mineralization at the adjoining Dome and Paymaster Mines. (see Fig. 2 and 3) Secondary targets included the strike and down dip extension of known gold mineralization in the Krist Fragmental unit and feldspar porphyritic intrusives on former adjoining Paymaster Mine holdings as shown in historical underground drill holes in the accompanying Fig.1.
Both Pelangio drill holes DW2101 and DW2102 cored extensive intervals of the Vipond stratigraphy, and within the Vipond package a number of prospective veins were intersected. These veins were often well mineralized with both pyrite and tourmaline; however, no significant gold values were noted. These veins were associated with considerable pervasive alteration, all indicative of a highly prospective environment for gold mineralization. Pelangio's drilling to date and historical data from adjoining mines has shown that the Vipond volcanic package has a 400 meter strike length and extends from approximately 300 to 1300 meters below surface on the Pelangio holdings.
The Company is incorporating this information to plot the next stage of exploration on this well located highly prospective gold prospect. A significant drill program will be required to fully evaluate the gold potential of this project.
ONTARIO OJEP EXPLORATION GRANT
Further, the Company wishes to acknowledge the contribution by the Province of Ontario to Pelangio's Dome West Project. The corporation was awarded a $150,000 grant through the Province's OJEP program, which assists junior exploration companies with their exploration efforts in Ontario. This grant made a significant contribution to the cost-effective, early-stage evaluation of this project.
Figure 1: Dome West Area Location Map
Pelangio Exploration Inc. , Wednesday, March 9, 2022, Press release picture
Figure 2: Historical Composite Level Plan with Geology
Pelangio Exploration Inc. , Wednesday, March 9, 2022, Press release picture
Figure 3: Composite Drill Section of Pelangio Drill Holes
Pelangio Exploration Inc. , Wednesday, March 9, 2022, Press release picture
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario #0221), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of eight near-surface gold discoveries, and the 284 km2 Obuasi property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine, as well as the newly optioned Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario at its Dome West property, situated some 800 meters from the Dome Mine in Timmins; at its Gowan polymetallic project, located 16 km east of the Kidd Creek Mine. See www.pelangio.com for further detail on all Pelangio's properties.
For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
T: 905-336-3828 / TF: 1-877-746-1632 / E: info@pelangio.com
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🚨 Trump Orders FBI to Investigate Bill Gates for 'Blitzing America With Toxic Chemtrails'
You’ve seen them - those eerie, geometric streaks crisscrossing the sky, unnaturally precise, a phenomenon dismissed by the mainstream media in their relentless gaslighting of humanity.… pic.twitter.com/JcUeEzA19N— TPV Sean (@tpvsean) February 26, 2025
Paul Craig Roberts – WHOSE GOLD, IF ANYONE’S, IS IN FT. KNOX
https://kingworldnews.com/paul-craig-roberts-whose-gold-if-anyones-is-in-ft-knox/
NYBob
1年前
PELANGIO EXPLORATION INC. ANNOUNCES OPTION TO ACQUIRE UP TO AN 83% INTEREST IN THE NKOSUO PROJECT ADJACENT TO PELANGIO’S MANFO PROJECT
https://pelangio.com/
TORONTO, Ontario (February 24, 2025) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the “Company”) is pleased to announce it has entered into a strategic agreement dated February 24th, 2025 with FJ Minerals Limited (“FJ”) granting Pelangio the right to acquire up to an 83% interest in FJ’s Nkosuo Project, located adjacent to Pelangio’s Manfo Project on the Sefwi Belt in the Ashanti Region of Ghana.
The agreement outlines the terms of cooperation between Pelangio and FJ for the development of our joint exploration projects. FJ, a privately held Ghanaian company, has significant experience in the mining sector in Ghana. This alliance is expected to accelerate the exploration and development of both the Manfo and Nkosuo Projects.
“We are very excited about the opportunity to work with FJ to explore and develop the Manfo and Nkosuo Projects together,” commented Ingrid Hibbard, President and CEO of Pelangio. “This acquisition aligns with our strategies of collaborative exploration and expansion of our presence in the world-class gold belts.”
Highlights of the Nkosuo Project:
30- year Mining Lease has been granted covering the 18 km2 Nkosuo Project
Nkosuo Project is located directly south and adjacent to Pelangio’s Manfo Project
Previous exploration and artisanal workings on the Nkosuo Project indicate the structures hosting the deposits on the Manfo Project continue into the Nkosuo Project for up to 4.4 km of strike length
Exploration highlights from RC drilling and trenching by Ashanti Goldfields Corp. include an RC hole returning 37 meters of 1.52 g/t Au situated 400 meters southwest of the Manfo property boundary plus a trench which assayed 37 meters of 5.60 g/t Au including 22 meters of 7.89 g/t Au (uncut) 1.0 kilometers into the Nkosuo Project
Terms of the Acquisition and Additional Options
Pelangio has the right to acquire an 83% interest in the Nkosuo Project, subject to due diligence and other customary conditions, by transferring a 17% interest in the Manfo Project to FJ (the “Nkosuo Option”).
If the Nkosuo Option is exercised a Joint Venture will be formed to hold title to both the Manfo and Nkosuo Projects, with Pelangio holding an 83% interest, and FJ holding a 17% interest in both projects (the “Combined Project”). Pelangio shall be the Operator of the Joint Venture.
The Nkosuo Option must be exercised by December 15, 2025 or it will terminate.
Pelangio and FJ have also granted Nathawo Properties and Investment Ltd. (“Nathawo”) the option to acquire a 10% interest in the Combined Project (the “Nathawo Option”). Nathawo, a privately held Ghanaian company may exercise this option by providing Pelangio with a total of US$1,000,000 by July 5, 2025. These funds will be used to maintain, explore, and develop the Nkosuo Property. If Pelangio does not exercise the Nkosuo Option, Pelangio may either return the funds or use them for the Manfo Project and FJ will earn a 10% interest in the Manfo Project. If the funds are returned, Nathawo will not earn any interest.
MFD Investment Holdings SA (“MFD”), a Swiss private investment company, has a prior option to earn a 10% interest in the Manfo Project by investing up to $1,000,000 and completing a Preliminary Economic Assessment on the Manfo Project by December 31, 2025 (the “MFD Option”) (see Press Release dated August 27, 2024). MFD has elected to participate with Pelangio in the FJ Agreement. MFD focuses on developing quick-to-cashflow mining assets with significant exploration upside.
If the Nkosuo Option, the Nathawo Option and the MFD Option are fully exercised, the relative interests in the Combined Project shall be: Pelangio -65.7%, FJ- 17%, Nathawo- 10%, and MFD -7.3%.
Geology of the Nkosuo Project
The Nkosuo Project comprises a 17.9 km2 30 year Mining Lease contiguous to and south of the Manfo Project. The mining lease covers up to 4.4 kilometers strike length of the interpreted extension of the Pokukrom-Nfante gold mineralized corridor plus possibly several subparallel subsidiary structures. The property is interpreted to be underlain by the same granitoid intrusive and Birimian metasediments and metavolcanics as is present on the Manfo Project. The majority of the gold mineralization at Manfo is hosted by the granitoid intrusive. Refer to Figure 1.
While historical work on the Nkosuo Project was limited, during 2004 to 2005 Ashanti Goldfields Corp. (now AngloGold Ashanti plc) exploration of the Manfo Project extended into the northern end of the current Nkosuo Project with 12 short reverse circulation (“RC”) holes and 4 short trenches completed along 1.0 kilometers of the southwestern strike extension of Pelangio’s Nfante West deposit which sits at the boundary of the two properties. Nearly all of the RC holes and trenches were mineralized, with the highlights including an RC hole returning 37 meters of 1.52 g/t Au situated 400 meters southwest of the Manfo property boundary plus a trench which assayed 37 meters of 5.60 g/t Au including 22 meters of 7.89 g/t Au (uncut) 1.0 kilometers into the Nkosuo Project southwest of Nfante West. Refer to Figure 2.
In addition to Ashanti Goldfields limited work on Nkosuo two decades ago, extensive artisanal mining during approximately 2010 through 2016, evident in historical Google Earth imagery, exposed several mineralized trends extending 1.2 kilometers further southwest of Ashanti’s high-grade trench. Although the artisanal mining sites have not been sampled by Pelangio to ascertain gold tenor, between Ashanti’s work and the considerable artisanal diggings, several lightly tested mineralized trends are interpreted to extend up to 2.2 kilometers southwest of the Nfante West deposit into the Nkosuo Project with local evidence of high-grade gold which augers well for the potential for significant discovery on the Nkosuo Project.
Figure 1. Location of the Nkosuo Mining Lease and District Geology
Figure 2. Manfo and Nkosuo Gold Prospects and Mineralized Trends
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), Senior Vice-President, Exploration and Director, is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.
About Pelangio Exploration Inc.:
For additional information, please visit our website at www.pelangio.com, or contact: Ingrid Hibbard, President and CEO Tel: 905-336-3828 / / Email: info@pelangio.com
OBUASI MINE - ANGLO - IS ONE OF THE RICHEST OLD MINES IN THE WORLD -
IMO!
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NYBob
2年前
Pelangio Exploration Commences a UAV Magnetics Survey on its Obuasi Project, Ghana
TORONTO, Ontario (November 5th, 2024) –
Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the “Company”) is pleased to announce
that a high-resolution UAV airborne magnetics survey has commenced on its Obuasi property,
adjacent to the giant high-grade Obuasi Mine owned by AngloGold Ashanti PLC.
The survey is expected to take 3-4 weeks to complete.
Ingrid Hibbard, President and CEO, commented:
“The high-resolution airborne drone magnetics survey covers one of the most prospective areas of our Obuasi property
situated on strike with the renowned Obuasi Mine.
The survey is being conducted in collaboration with TuNya Mineral Resources Ltd. as part of their earn-in on
the southern Tarkwaian portion of our property.
This survey is expected to yield critical data that will enhance our targeting of Obuasi-style gold mineralization on our property.
We are eager to review the survey results and explore the targets it identifies for further evaluation and follow-up.”
Background
Pelangio’s 284 square kilometer Obuasi property is located in Ghana, Africa’s largest gold producer.
It is strategically situated in the Ashanti Gold Belt, West Africa’s largest gold belt and globally recognized
for its rich, high-grade gold deposits with centuries of successful gold mining.
Our Obuasi property is adjacent to Anglo-Gold’s Ashanti’s high-grade Obuasi Mine with gold endowment
exceeding sixty million ounces.
TuNya are conducting a US$250,000 technical study of Pelangio’s Obuasi property as partial fulfillment
of their earn-in on the southern Tarkwaian portion of the Obuasi property.
This work commenced in October of 2023 with a desk top review of Pelangio’s considerable exploration
datasets plus a start on detailed field mapping over the western half of the property.
Field mapping was completed in May of 2024 and a report was issued with recommendations that included
the flying of a high-resolution UAV (drone) airborne magnetics survey over the principal area of interest
identified in the western margin of the property covering the interpreted strike extension of the Obuasi mineralized trend.
Here, a significant concentration of Pelangio’s historical anomalous rock chip samples
> 1 g/t Au occurs with much of the 8-kilometer long target untested by trenching and drilling.
Refer to Figure 1.
Following the flying of the magnetic survey, the data will be processed, imaged and geologically plus structurally
interpreted with recommendations for follow up to be funded by TuNya, likely to include a program of pitting and
trenching to test the most favourable targets.
Survey Details
The drone (UAV) airborne magnetics survey being flown at Obuasi will be conducted by SEMS Exploration of Ghana.
The survey will be flown with a GEMS Systems AIRBIRD magnetometer suspended from a Matrice 300 RTK drone along
50-meter spaced lines with a total of 400 line-kilometers covering an area of approximately 20 square kilometers.
The survey is expected to take three weeks, depending on the weather.
SEMS inhouse geophysicist will process and image the survey data and provide a report plus GIS imagery to Pelangio
within ten days of completion of the survey.
Figure 1. Obuasi project UAV Magnetics Survey Area
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National Instrument 43-101
Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Canada.
In Ghana, the Company is focused on its two 100% owned camp-sized properties: the 100 km2 Manfo property,
the site of eight near-surface gold discoveries, and the 284 km2 Obuasi property, located 4 km on strike and
adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine, as well as the Dankran property located
adjacent to its Obuasi property.
See http://www.pelangio.com for further details on all Pelangio’s properties.
https://pelangio.com/news-releases/2024/obuasidronenov2024/
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175015670
For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Email: info@pelangio.com
NYBob
2年前
Pelangio Exploration Inc. NEWS - Pelangio’s Manfo project is situated roughly in the middle of the Sefwi-Bibiani Belt between
Newmont’s Ahafo mine; the Subika deposit being only 14 kilometres to the NNE,
Manfo Highlights
https://pelangio.com/projects/ghana/manfo/
Pelangio has discovered seven near surface areas of gold mineralization along a 9-kilometre trend of multiple structures
three areas comprise the initial resource stage: Pokukrom East and West, Nfante West
Maiden resource estimate of 195,000 oz (at 1.5 g/t Au) Indicated, plus 298,000 oz (at 1.0 g/t Au) Inferred developed
by SRK Consulting, in 2013
Ownership
100% ownership
100 square kilometres on Ghana’s prodigious Sefwi Greenstone Belt
Pelangio’s Manfo project is situated roughly in the middle of the Sefwi-Bibiani Belt between Newmont’s Ahafo mine;
the Subika deposit being only 14 kilometres to the NNE, and
Resolute’s Bibiani mine 25 kilometres to the south of the Manfo project area and
50 kilometres from Kinross’ Chirano Mine.
Similar to the Subika and Chirano deposits, the mineralization at Manfo is likewise hosted in granitoid intrusive rocks.
https://operations.newmont.com/africa/ahafo-ghana
Ahafo South: Ghana’s Largest Gold Mine
Over 8 Moz produced to date.
Development of Ahafo North mine will raise combined production to approximately 850 Koz of gold per year.
Long-term district strategy to extend mine life beyond 2050.
Ahafo North: Best Unmined Deposit in West Africa
Pelangio Exploration Inc. Enters Agreement to Develop the Manfo Project
V.PX | 14 hours ago
Strategic Partnership Aims to Advance the Project into Production in Ghana's Sefwi Gold Belt
TORONTO, ON / ACCESSWIRE / August 27, 2024 /
Pelangio Exploration Inc. (TSXV:PX) ("Pelangio") is pleased to announce that on August 26th, 2024 it has entered a binding Letter of Intent (LOI) with
MFD Investment Holdings SA ("MFD"), granting MFD the option to earn an undivided 10% interest in the Manfo Project, located on the Sefwi Gold Belt
in the Ashanti Region of Ghana. This strategic partnership will accelerate the development of the project, aiming for a first gold pour in 2027.
The agreement outlines MFD's commitment to complete a Preliminary Economic Assessment (PEA) and invest up to $1 million in developmental
expenditures by December 31, 2025. Upon fulfilling these obligations, or achieving a first gold pour by December 2027,
MFD will acquire a 10% interest in the Manfo Project.
"We are excited to collaborate with MFD on this significant project," said Ingrid Hibbard, CEO of Pelangio Exploration Inc. "
This partnership aligns with Pelangio's strategy to leverage partnerships to expedite project development while retaining
a strong interest in high-potential assets.
This agreement provides Pelangio shareholders with a non-dilutive financing partner that will focus on Manfo, allowing us
to accelerate development efforts and unlock the project's full potential."
Under the terms of the agreement, MFD will engage a qualified consultant to conduct the PEA, which will evaluate the economic
viability of the Manfo Project in accordance with National Instrument 43-101 standards.
The joint venture structure that follows the successful completion of the option will see Pelangio retain a 90% interest in the project,
with MFD holding 10%.
Pelangio will remain the operator of the joint venture, overseeing the exploration, development and eventual operating activities
with the aim of going into production.
"It is rare to find these types of opportunities in the mining sector," stated Antonios Maragakis, CEO and Director of MFD Investment Holdings.
"The Manfo Project has extensive drilling, is located in a Tier 1 mining jurisdiction with the potential for significant upside
through technical work plus continuing resource and expansion drilling.
We look forward to leveraging Pelangio's extensive experience and excellent reputation in West Africa to sustainably develop
this with the local and federal authorities."
Additional Information
The Manfo Project, located in the Sefwi Gold Belt, is situated in one of the most historically productive
gold regions in West Africa.
The Sefwi Belt is home to several significant gold deposits and mining operations, including
Newmont's nearby Ahafo mine which produces more than 500,000 ounces of gold annually.
The Manfo Project consists of three key concessions: Subriso, Twabidi, and Sempekrom.
Subriso is the primary focus due to its advanced exploration status and potential for resource
expansion, while Twabidi and Sempekrom serve as buffer zones with future exploration potential.
There was a historic resource on the property done by SRK in 2013 which estimated
the project hosts a gold mineral resource of 195,000 ounces (at 1.5 g/t Au) Indicated
and 298,000 (at .96 g/t Au) Inferred.1
As part of the agreement, MFD's role includes procuring a Preliminary Economic Assessment on the
Manfo Project, a critical step towards determining the project's economic feasibility.
Resolute Bibiani gold mine in Ghana to Asante... 25KM SOUTH OF THE MANFO GOLD MINE PROJECT.
Kinross divests 90% stake in Ghana’s Chirano mine for $225m
Chirano is an operating open-pit and underground gold mine situated south of Asante Gold’s Bibiani asset.
50KM FROM M ANFO GOLD MINE PEOJECT.. August 11, 2022
...In order for MFD to fully acquire the 10% into the Manfo project, the Company will need to
show either $1,000,000 in expenditures by December 2025 or a first pour of gold by December 2027.
Subject to approval of the TSXV, Pelangio shall issue MFD a bonus of common shares based on
results from the next MRE completed on the Project and funded by MFD as follows:
If the base case estimate is at least 1,000,000 ounces and less than 1,500,000 ounces,
1,000,000 common shares;
If the base case estimate is at least 1,500,000 ounces and less that 2,000,000 ounces,
1,500,000 common shares; or
If the base case estimate is at least 2,000,000 ounces, 2,000,000 common shares.
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.
About MFD Investment Holdings
MFD is a private investment company that focuses on developing quick-to-cashflow mining assets with significant exploration upside.
With a global team of experts in geology, metallurgy, project management, and finance, MFD
specializes in early-stage investments and
operational efficiencies that maximize value for its stakeholders.
MFD leverages advanced technology and systems to improve mine development and
operational management, addressing inefficiencies within the mining industry.
The company aims to generate substantial returns by identifying and advancing high-potential mining
projects across diverse geographies and commodities.
About Pelangio Exploration Inc.
Pelangio Exploration Inc. is a Canadian-based mineral exploration company focused on advancing its portfolio of gold projects in West Africa and Canada.
The company's strategy is centered on acquiring and developing highly prospective projects with the potential for significant returns.
Pelangio holds a 100% interest in several properties located on the prolific Sefwi and Ashanti Gold Belts in Ghana and continues
to advance its exploration efforts in one of the world's most productive gold regions.
1The Manfo mineral resource estimation was conducted by SRK Consulting and published in June 2013. (Refer to the Mineral Resource Evaluation Technical
Report, Manfo Gold Project, by SRK Consulting (Canada) Inc., released on June 21, 2013 and available on Pelangio's website).
The resource estimation was made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects
at the time of the mineral resource estimation in 2013.
NI 43-101 standards for disclosure have been amended multiple times since 2013 and as a result, Pelangio's 2013 resource estimate is no longer NI 43-101
compliant under the current standards.
Pelangio Exploration Inc.: https://pelangio.com
82 Richmond Street East, TORONTO ON M5C 1P1, CA
Phone(s):
Primary: +1 905 875-3828
Fax: +1 905 336-3899
Contact(s):
ir@pelangio.com
Key Officers:
J. Ingrid Hibbard - CEO
President, Chief Executive Officer, Director
For further information, please contact:
Ingrid Hibbard, CEO
Pelangio Exploration Inc.
Email: ihibbard@pelangio.com
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company's ability to complete the planned exploration programs. Regarding forward-looking statements and information contained herein, we have made many assumptions, including about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, the option may not be exercised, near-term production may not be viable, delays due to COVID-19 or other safety protocols, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pelangio Exploration Inc.
View the original press release on accesswire.com
Tags:
GOLD
NYBob
2年前
Pelangio Exploration Inc. - Pelangio’s Manfo project is situated roughly in the middle of the Sefwi-Bibiani Belt between
Newmont’s Ahafo mine; the Subika deposit being only 14 kilometres to the NNE,
Manfo Highlights
https://pelangio.com/projects/ghana/manfo/
Pelangio has discovered seven near surface areas of gold mineralization along a 9-kilometre trend of multiple structures
three areas comprise the initial resource stage: Pokukrom East and West, Nfante West
Maiden resource estimate of 195,000 oz (at 1.5 g/t Au) Indicated, plus 298,000 oz (at 1.0 g/t Au) Inferred developed
by SRK Consulting, in 2013
Ownership
100% ownership
100 square kilometres on Ghana’s prodigious Sefwi Greenstone Belt
https://operations.newmont.com/africa/ahafo-ghana
Ahafo South: Ghana’s Largest Gold Mine
Over 8 Moz produced to date.
Development of Ahafo North mine will raise combined production to approximately 850 Koz of gold per year.
Long-term district strategy to extend mine life beyond 2050.
Ahafo North: Best Unmined Deposit in West Africa
Pelangio Exploration Inc. Enters Agreement to Develop the Manfo Project
V.PX | 14 hours ago
Strategic Partnership Aims to Advance the Project into Production in Ghana's Sefwi Gold Belt
TORONTO, ON / ACCESSWIRE / August 27, 2024 /
Pelangio Exploration Inc. (TSXV:PX) ("Pelangio") is pleased to announce that on August 26th, 2024 it has entered a binding Letter of Intent (LOI) with
MFD Investment Holdings SA ("MFD"), granting MFD the option to earn an undivided 10% interest in the Manfo Project, located on the Sefwi Gold Belt
in the Ashanti Region of Ghana. This strategic partnership will accelerate the development of the project, aiming for a first gold pour in 2027.
The agreement outlines MFD's commitment to complete a Preliminary Economic Assessment (PEA) and invest up to $1 million in developmental
expenditures by December 31, 2025. Upon fulfilling these obligations, or achieving a first gold pour by December 2027,
MFD will acquire a 10% interest in the Manfo Project.
"We are excited to collaborate with MFD on this significant project," said Ingrid Hibbard, CEO of Pelangio Exploration Inc. "
This partnership aligns with Pelangio's strategy to leverage partnerships to expedite project development while retaining
a strong interest in high-potential assets.
This agreement provides Pelangio shareholders with a non-dilutive financing partner that will focus on Manfo, allowing us
to accelerate development efforts and unlock the project's full potential."
Under the terms of the agreement, MFD will engage a qualified consultant to conduct the PEA, which will evaluate the economic
viability of the Manfo Project in accordance with National Instrument 43-101 standards.
The joint venture structure that follows the successful completion of the option will see Pelangio retain a 90% interest in the project,
with MFD holding 10%.
Pelangio will remain the operator of the joint venture, overseeing the exploration, development and eventual operating activities
with the aim of going into production.
"It is rare to find these types of opportunities in the mining sector," stated Antonios Maragakis, CEO and Director of MFD Investment Holdings.
"The Manfo Project has extensive drilling, is located in a Tier 1 mining jurisdiction with the potential for significant upside
through technical work plus continuing resource and expansion drilling.
We look forward to leveraging Pelangio's extensive experience and excellent reputation in West Africa to sustainably develop
this with the local and federal authorities."
Additional Information
The Manfo Project, located in the Sefwi Gold Belt, is situated in one of the most historically productive
gold regions in West Africa.
The Sefwi Belt is home to several significant gold deposits and mining operations, including
Newmont's nearby Ahafo mine which produces more than 500,000 ounces of gold annually.
The Manfo Project consists of three key concessions: Subriso, Twabidi, and Sempekrom.
Subriso is the primary focus due to its advanced exploration status and potential for resource
expansion, while Twabidi and Sempekrom serve as buffer zones with future exploration potential.
There was a historic resource on the property done by SRK in 2013 which estimated
the project hosts a gold mineral resource of 195,000 ounces (at 1.5 g/t Au) Indicated
and 298,000 (at .96 g/t Au) Inferred.1
As part of the agreement, MFD's role includes procuring a Preliminary Economic Assessment on the
Manfo Project, a critical step towards determining the project's economic feasibility.
In order for MFD to fully acquire the 10% into the Manfo project, the Company will need to
show either $1,000,000 in expenditures by December 2025 or a first pour of gold by December 2027.
Subject to approval of the TSXV, Pelangio shall issue MFD a bonus of common shares based on
results from the next MRE completed on the Project and funded by MFD as follows:
If the base case estimate is at least 1,000,000 ounces and less than 1,500,000 ounces,
1,000,000 common shares;
If the base case estimate is at least 1,500,000 ounces and less that 2,000,000 ounces,
1,500,000 common shares; or
If the base case estimate is at least 2,000,000 ounces, 2,000,000 common shares.
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.
About MFD Investment Holdings
MFD is a private investment company that focuses on developing quick-to-cashflow mining assets with significant exploration upside.
With a global team of experts in geology, metallurgy, project management, and finance, MFD
specializes in early-stage investments and
operational efficiencies that maximize value for its stakeholders.
MFD leverages advanced technology and systems to improve mine development and
operational management, addressing inefficiencies within the mining industry.
The company aims to generate substantial returns by identifying and advancing high-potential mining
projects across diverse geographies and commodities.
About Pelangio Exploration Inc.
Pelangio Exploration Inc. is a Canadian-based mineral exploration company focused on advancing its portfolio of gold projects in West Africa and Canada.
The company's strategy is centered on acquiring and developing highly prospective projects with the potential for significant returns.
Pelangio holds a 100% interest in several properties located on the prolific Sefwi and Ashanti Gold Belts in Ghana and continues
to advance its exploration efforts in one of the world's most productive gold regions.
1The Manfo mineral resource estimation was conducted by SRK Consulting and published in June 2013. (Refer to the Mineral Resource Evaluation Technical
Report, Manfo Gold Project, by SRK Consulting (Canada) Inc., released on June 21, 2013 and available on Pelangio's website).
The resource estimation was made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects
at the time of the mineral resource estimation in 2013.
NI 43-101 standards for disclosure have been amended multiple times since 2013 and as a result, Pelangio's 2013 resource estimate is no longer NI 43-101
compliant under the current standards.
Pelangio Exploration Inc.: https://pelangio.com
82 Richmond Street East, TORONTO ON M5C 1P1, CA
Phone(s):
Primary: +1 905 875-3828
Fax: +1 905 336-3899
Contact(s):
ir@pelangio.com
Key Officers:
J. Ingrid Hibbard - CEO
President, Chief Executive Officer, Director
For further information, please contact:
Ingrid Hibbard, CEO
Pelangio Exploration Inc.
Email: ihibbard@pelangio.com
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company's ability to complete the planned exploration programs. Regarding forward-looking statements and information contained herein, we have made many assumptions, including about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, the option may not be exercised, near-term production may not be viable, delays due to COVID-19 or other safety protocols, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pelangio Exploration Inc.
View the original press release on accesswire.com
Tags:
GOLD
NYBob
2年前
Pelangio Exploration Inc. Enters Agreement to Develop the Manfo Project
V.PX | 14 hours ago
Strategic Partnership Aims to Advance the Project into Production in Ghana's Sefwi Gold Belt
TORONTO, ON / ACCESSWIRE / August 27, 2024 /
Pelangio Exploration Inc. (TSXV:PX) ("Pelangio") is pleased to announce that on August 26th, 2024 it has entered a binding Letter of Intent (LOI) with
MFD Investment Holdings SA ("MFD"), granting MFD the option to earn an undivided 10% interest in the Manfo Project, located on the Sefwi Gold Belt
in the Ashanti Region of Ghana. This strategic partnership will accelerate the development of the project, aiming for a first gold pour in 2027.
The agreement outlines MFD's commitment to complete a Preliminary Economic Assessment (PEA) and invest up to $1 million in developmental
expenditures by December 31, 2025. Upon fulfilling these obligations, or achieving a first gold pour by December 2027,
MFD will acquire a 10% interest in the Manfo Project.
"We are excited to collaborate with MFD on this significant project," said Ingrid Hibbard, CEO of Pelangio Exploration Inc. "
This partnership aligns with Pelangio's strategy to leverage partnerships to expedite project development while retaining
a strong interest in high-potential assets.
This agreement provides Pelangio shareholders with a non-dilutive financing partner that will focus on Manfo, allowing us
to accelerate development efforts and unlock the project's full potential."
Under the terms of the agreement, MFD will engage a qualified consultant to conduct the PEA, which will evaluate the economic
viability of the Manfo Project in accordance with National Instrument 43-101 standards.
The joint venture structure that follows the successful completion of the option will see Pelangio retain a 90% interest in the project,
with MFD holding 10%.
Pelangio will remain the operator of the joint venture, overseeing the exploration, development and eventual operating activities
with the aim of going into production.
"It is rare to find these types of opportunities in the mining sector," stated Antonios Maragakis, CEO and Director of MFD Investment Holdings.
"The Manfo Project has extensive drilling, is located in a Tier 1 mining jurisdiction with the potential for significant upside
through technical work plus continuing resource and expansion drilling.
We look forward to leveraging Pelangio's extensive experience and excellent reputation in West Africa to sustainably develop
this with the local and federal authorities."
Additional Information
The Manfo Project, located in the Sefwi Gold Belt, is situated in one of the most historically productive
gold regions in West Africa.
The Sefwi Belt is home to several significant gold deposits and mining operations, including
Newmont's nearby Ahafo mine which produces more than 500,000 ounces of gold annually.
The Manfo Project consists of three key concessions: Subriso, Twabidi, and Sempekrom.
Subriso is the primary focus due to its advanced exploration status and potential for resource
expansion, while Twabidi and Sempekrom serve as buffer zones with future exploration potential.
There was a historic resource on the property done by SRK in 2013 which estimated
the project hosts a gold mineral resource of 195,000 ounces (at 1.5 g/t Au) Indicated
and 298,000 (at .96 g/t Au) Inferred.1
As part of the agreement, MFD's role includes procuring a Preliminary Economic Assessment on the
Manfo Project, a critical step towards determining the project's economic feasibility.
In order for MFD to fully acquire the 10% into the Manfo project, the Company will need to
show either $1,000,000 in expenditures by December 2025 or a first pour of gold by December 2027.
Subject to approval of the TSXV, Pelangio shall issue MFD a bonus of common shares based on
results from the next MRE completed on the Project and funded by MFD as follows:
If the base case estimate is at least 1,000,000 ounces and less than 1,500,000 ounces,
1,000,000 common shares;
If the base case estimate is at least 1,500,000 ounces and less that 2,000,000 ounces,
1,500,000 common shares; or
If the base case estimate is at least 2,000,000 ounces, 2,000,000 common shares.
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.
About MFD Investment Holdings
MFD is a private investment company that focuses on developing quick-to-cashflow mining assets with significant exploration upside.
With a global team of experts in geology, metallurgy, project management, and finance, MFD
specializes in early-stage investments and
operational efficiencies that maximize value for its stakeholders.
MFD leverages advanced technology and systems to improve mine development and
operational management, addressing inefficiencies within the mining industry.
The company aims to generate substantial returns by identifying and advancing high-potential mining
projects across diverse geographies and commodities.
About Pelangio Exploration Inc.
Pelangio Exploration Inc. is a Canadian-based mineral exploration company focused on advancing its portfolio of gold projects in West Africa and Canada.
The company's strategy is centered on acquiring and developing highly prospective projects with the potential for significant returns.
Pelangio holds a 100% interest in several properties located on the prolific Sefwi and Ashanti Gold Belts in Ghana and continues
to advance its exploration efforts in one of the world's most productive gold regions.
1The Manfo mineral resource estimation was conducted by SRK Consulting and published in June 2013. (Refer to the Mineral Resource Evaluation Technical
Report, Manfo Gold Project, by SRK Consulting (Canada) Inc., released on June 21, 2013 and available on Pelangio's website).
The resource estimation was made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects
at the time of the mineral resource estimation in 2013.
NI 43-101 standards for disclosure have been amended multiple times since 2013 and as a result, Pelangio's 2013 resource estimate is no longer NI 43-101
compliant under the current standards.
Pelangio Exploration Inc.: https://pelangio.com
82 Richmond Street East, TORONTO ON M5C 1P1, CA
Phone(s):
Primary: +1 905 875-3828
Fax: +1 905 336-3899
Contact(s):
ir@pelangio.com
Key Officers:
J. Ingrid Hibbard - CEO
President, Chief Executive Officer, Director
For further information, please contact:
Ingrid Hibbard, CEO
Pelangio Exploration Inc.
Email: ihibbard@pelangio.com
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company's ability to complete the planned exploration programs. Regarding forward-looking statements and information contained herein, we have made many assumptions, including about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, the option may not be exercised, near-term production may not be viable, delays due to COVID-19 or other safety protocols, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pelangio Exploration Inc.
View the original press release on accesswire.com
Tags:
GOLD
NYBob
2年前
Pelangio Exploration Announces Issuance of Shares for Litigation Settlement
V.PX | February 6, 2024
TORONTO, ON / ACCESSWIRE / February 6, 2024 /
Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") pursuant to
the release on July 11, 2023, the Company has agreed to issue 500,000 (C$10,000) common shares
in the capital of Pelangio at a deemed per-share price of $0.02, which is equal to the end of the day
price of Pelangio Shares on the TSX Venture Exchange (the "TSXV").
The shares for debt settlement remain subject to approval by the TSXV.
The Pelangio Shares will be subject to a four-month hold period which will expire on the date that is
four months and one day from the date of issuance.
Under the terms of the settlement agreement Pelangio will be required to issue a final C$30,000 of
common shares in the capital of Pelangio on the twelve-month anniversary of the settlement
agreement.
The common shares will be priced based upon the closing price on the respective anniversary dates.
The second and final share issuance will be subject to approval by the TSXV.
About Pelangio
Pelangio acquires and explores world-class land packages on strategic gold belts in Ghana,
West Africa and Canada.
In Ghana, the Company is exploring its two 100% owned camp-sized properties:
the 100 km2 Manfo property, the site of seven near-surface gold discoveries, and
the 284 km2 Obuasi property,
located four km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine,
as well as its Dankran property located adjacent to its Obuasi property.
See www.pelangio.com for further detail.
For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
T: 905-336-3828 / TF: 1-877-746-1632 / Email: info@pelangio.com
Pelangio Grants Earn-in Option on a Portion of the Obuasi Project
by ACCESSWIRE
July 31, 2023 7:30 AM | 9 min read | Make a Comment
TORONTO, ON / ACCESSWIRE / July 31, 2023 /
Pelangio Exploration Inc. PX PGXPF
("Pelangio" or the "Company") is pleased to announce it has entered into an earn-in binding letter of intent granting
TuNya Mineral Resources Ltd. ("TuNya") the right to earn an 80% interest on the southern portion of two of
the four licenses that comprise Pelangio's Obuasi Project
(the southern portion of these two licenses to be referred to as the "TuNya Earn-In Property").
The TuNya Earn-In Property covers predominantly Tarkwaian stratigraphy, including the strike extension of
TuNya's Kyereboso project located to the south. Pelangio will retain a 100% interest in the remainder of
the Obuasi property ("Main Property"), including the strike extension of the Obuasi Mine stratigraphy
("Obuasi Targets") and the main Birimian-Tarkwaian contact ("NGA Targets") where
Pelangio will focus its exploration efforts.
Highlights:
Collaboration with TuNya, a strategic partner with significant technical expertise and considerable experience
at the Obuasi Mine and in the Ashanti Belt.
The TuNya Earn-In Property covers predominantly Tarkwaian stratigraphy, including the strike extension of
TuNya's Kyereboso project.
Pelangio retains 100% of the Main Property, including the strike extension of the Obuasi Mine stratigraphy
("Obuasi Targets") and the main Birimian-Tarkwaian contact ("NGA Targets") where
Pelangio will focus its exploration efforts.
TuNya may acquire up to an 80% interest in the TuNya Earn-In Property by completing a US$250,000
comprehensive technical review of Pelangio's Main Property, completing 2,000 meters of drilling on
the TuNya Earn-In Property, and paying Pelangio US$150,000.
Pelangio will only contribute to expenditures on the TuNya Earn-In area
once a 100,000 oz resource has been delineated.
"We are delighted to enter into the earn-in agreement with TuNya, providing access to its management and
technical team who have a combined 125 years' experience working in senior technical roles at
the Obuasi Mine and elsewhere on the Ashanti Belt.
We believe Pelangio will receive tremendous value from the technical review to be completed by TuNya on our
100% owned Pelangio Main Property and the drill program to be completed by TuNya on
the TuNya Earn-In," commented Ingrid Hibbard, President and CEO of Pelangio.
"The 284 square kilometer Obuasi Project is a district-size land package requiring significant exploration.
This collaboration with TuNya ensures exploration will be completed on both the Main Property and
the TuNya Earn-In Property in the near term at no cost to Pelangio. In this way,
Pelangio will retain its focus on the Obuasi Targets and the NGA Targets and gain exposure to
near term exploration of the Tarkwaian potential of the TuNya Earn-In Property."
Agreement Terms:
https://www.benzinga.com/pressreleases/23/07/ac33466802/pelangio-grants-earn-in-option-on-a-portion-of-the-obuasi-project
Pelangio Exploration Announces Settlement of Obuasi Litigation
Accesswire
· Jul 11, 2023 06:27
PGXPF
TORONTO, ON / ACCESSWIRE / July 11, 2023 /
Pelangio Exploration Inc. (TSX-V:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company")
is pleased to announce that settlement agreements
have been reached to resolve all outstanding litigation with respect to an action
commenced in 2009 in the Ghana High Court
involving the vendor of two of the four prospecting licenses comprising Pelangio's Obuasi property.
The two prospecting licenses involved in the litigation and referenced as Kyereboso 2 License and
Kyereboso 3 License in the attached Figure 1 are hereinafter referred to as the "Property".
The litigation related to a dispute between the Property vendor's corporate history and the estate of
one of its founding shareholders (the "Plaintiff).
Pelangio was subsequently added as a co-defendant in 2012.
Although no monetary consideration was claimed from Pelangio by the Plaintiff in the litigation, an interlocutory injunction had been granted which
had the effect of preventing all parties from selling any interest in or conducting mining on the
Property pending final determination of the matter.
"This settlement is a positive development for Pelangio," stated Ingrid Hibbard President and CEO.
"It avoids the continued uncertainty, expense, and burden associated with litigation and
removes the injunction preventing the sale of any interest in or mining of the Property.
We are excited to have these impediments removed and planning for
the next phase of exploration at the Property is underway."
https://www.moomoo.com/news/post/24861650/pelangio-exploration-announces-settlement-of-obuasi-litigation?level=1&data_ticket=1714581834631476
https://www.youtube.com/watch?v=g3uLp_64ciE
Pelangio Exploration Completes Diamond Drilling At Manfo Project, Ghana And Provides Assay Results
https://www.linkedin.com/pulse/pelangio-exploration-completes-diamond-drilling-manfo-project
About Pelangio
Pelangio acquires and explores world-class land packages on strategic gold belts in Ghana, West Africa and Canada.
In Ghana, the Company is exploring its two 100% owned camp-sized properties:
the 100 km2 Manfo property, the site of seven near-surface gold discoveries, and
the 284 km2 Obuasi property, located four km on strike and adjacent to AngloGold Ashanti’s prolific
high-grade Obuasi Mine, as well as its Dankran property located adjacent to its Obuasi property.
See https://www.pelangio.com for further details.
For additional information, please visit our website at www.pelangio.com, or contact:
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com
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