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Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) focuses on acquiring and exploring land packages on strategic gold belts in Ghana and Canada. The company explores two 100% owned camp-sized properties in Ghana, including Manfo, the site of near-surface gold discoveries, and Obuasi, located near AngloGold Ashanti's high-grade Obuasi Mine. In Canada, Pelangio is focused on the Kenogaming project and the Gowan project. The company recently closed a non-brokered private placement to raise funds for working capital and general corporate purposes.
Pelangio Exploration Inc. (OTC PINK: PGXPF) has initiated a diamond drill program at its Gowan polymetallic project in Ontario, targeting nickel-copper sulphides and copper-zinc VMS mineralization. The project is strategically located near the Kidd Creek Mine. The company identified six new base metal targets through Maxwell Plate modeling, enhancing the exploration potential. Historical drilling has revealed significant base metal intercepts, with notable grades including 0.32% copper and 11.99 g/t silver over 10.97 meters. Pelangio also completed drilling at its Dome West Project and awaits assay results.
Pelangio Exploration Inc. has signed an earn-in letter agreement with Privco for the Gowan Project located near Timmins, Ontario. Privco will pay $500,000 and fund $1.5 million in exploration to earn a 50% interest. Key targets include a copper-zinc VMS and a nickel-copper target, with drilling mobilization in progress. Upon completion of initial payments, Privco can earn an additional 25% by paying $100,000 and investing a further $900,000 in exploration.
Pelangio Exploration Inc. has successfully closed the final tranche of a non-brokered private placement, raising an additional $100,000 to bring total proceeds to $780,063. The final tranche consisted of 1,000,000 units sold at $0.10 per unit, with each unit including a common share and a warrant exercisable at $0.15 until January 13, 2023. The private placement remains pending the final approval from the TSX Venture Exchange.
Pelangio Exploration Inc. has successfully closed the second tranche of its private placement, raising $317,093 from the issuance of 3,170,930 units. This brings the total gross proceeds to $680,063 from two tranches. Each unit consists of one common share and a quarter of a warrant, with full warrants priced at $0.15 until January 12, 2023. The company plans to complete a third tranche for an additional $100,000. A related party transaction occurred, with the CEO purchasing 250,000 units. Securities are subject to a four-month hold period.
Pelangio Exploration Inc. has expanded its non-brokered private placement due to increased demand, raising the target gross proceeds from CDN$625,000 to CDN$780,063. Each unit consists of one common share and one quarter of a share purchase warrant, with a full warrant priced at $0.15 for one year. The offering will issue up to 7,800,630 shares at a price of $0.10 per share. Finder's fees of up to 8% may be paid. The securities are subject to a four-month hold period.
Pelangio Exploration Inc. has successfully closed the first tranche of a non-brokered private placement, raising $362,970 from the issuance of 3,629,700 units at $0.10 per unit. Each unit includes one common share and a warrant allowing the purchase of a share at $0.15 until December 30, 2022. The private placement aims for proceeds up to $625,000 and remains subject to TSX Venture Exchange approval. Additionally, the company has notable exploration properties in Ghana and Canada, focusing on gold and base metals.
Pelangio Exploration Inc. announced a non-brokered private placement for gross proceeds of up to $625,000. This offering will consist of units priced at $0.10 each, with each unit comprising one common share and a quarter of a warrant. Holders can purchase a full warrant at $0.15 for one year. The proceeds will be used for general working capital, and the offering is subject to regulatory approvals. Closing is expected around December 30, 2021.
Pelangio Exploration Inc. has announced initial assay results from diamond drilling at the Pokukrom West deposit in Ghana. Two drill holes, totaling 383.2 meters, revealed significant gold grades: Hole DD21-001 returned 3.81 g/t over 15 meters and Hole DD21-002 showed 3.19 g/t over 12 meters, indicating the discovery of a new lode of mineralization. The ongoing drilling program aims to expand known resources, with further assays pending. The company plans a larger drilling campaign starting in December 2022.
Pelangio Exploration is conducting a 1200-meter diamond drill program at its Dome West project in Ontario, aimed at exploring untested Vipond stratigraphy that potentially hosts gold mineralization. Historical data reveal significant gold grades, including 21.6 g/t over 1.82m and 59.6 g/t over 1.98m. The company emphasizes the potential for high-quality targets, particularly gold-bearing porphyritic intrusives and fragmental volcanic units. The ongoing drilling aims to identify the strike extension of these units, with additional holes planned based on initial findings.
Pelangio Exploration Inc. has completed a follow-up ground induced polarization (IP) survey on its Gowan Project, located near Timmins, Ontario. The survey identified two high-priority base metal targets: a copper zinc volcanogenic massive sulphide (VMS) target and a nickel copper target. Historical drilling revealed significant intersections of base metal mineralization. A fully-funded diamond drill program is scheduled for January 2022 to further explore these targets.
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