Pelangio Explora Stock Price, News & Analysis

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.

Pelangio Exploration Inc. (PGXPF) has announced recent developments in its exploration activities in Ghana and Canada. A diamond drilling program has commenced at the Manfo project in Ghana, targeting extensions of the Pokukrom gold resource, with historical resources estimated at 195,000 oz indicated. The Dankran project reported significant gold intercepts of 14.17 g/t Au over 3 meters. Additionally, a ground survey was completed at the Gowan project to refine drilling targets, and a contract for Dome West drilling is secured to begin in late October.

Pelangio Exploration Inc. (OTC: PGXPF) has entered an earn-in agreement with First Mining Gold Corp. for its Birch Lake Project. This project, located in Ontario, may see First Mining gain up to an 80% interest by investing $3.5 million in exploration and making cash payments of $750,000. The Birch Lake property is strategically located near First Mining’s Springpole Gold Project, which contains significant gold reserves. The partnership aims to unlock the project's value for shareholders while Pelangio continues exploring other properties in Ghana and Ontario.