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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. has completed 908 meters of diamond drilling at its Hailstone project in Northern Saskatchewan, testing eight targets. Despite intersecting shear zones and disseminated pyrite, no significant gold values were found. President and CEO Ingrid Hibbard emphasized the importance of the data for future exploration, particularly around areas with high gold grain counts. The property, spanning 75 square kilometers, is strategically located in a revitalized gold camp, conducive for further exploration efforts.
Pelangio Exploration Inc. (PGXPF) has completed a 908-meter drill program at its Hailstone Property in Northern Saskatchewan, with eight holes drilled and assays pending. All drill holes intersected zones of interest, including shear zones and significant mineralization, with one hole revealing a 1.2-meter quartz vein related to the surface Bornite Zone, previously showing 15.9 g/t gold. The property, located in a historically rich gold area, will undergo further assessments based on assay results from 466 samples sent for analysis.
Pelangio Exploration Inc. (OTC: PGXPF) announced the completion of data evaluation for the Dome West project in Timmins, Ontario, ahead of a drilling program set for June or July 2021. This project is positioned near significant gold-mining areas, with historical data indicating gold mineralization potential. Key highlights include untested target horizons and historical underground drill results demonstrating promising gold grades of 21.6 g/t and 59.6 g/t. The company is optimistic about the prospects for their shareholders as they prepare for drilling.
Pelangio Exploration Inc. (OTC PINK:PGXPF) has appointed Dr. Joyce Rosalind Aryee to its Board of Directors, bringing extensive experience in the Ghanaian mining industry and strategic leadership. Dr. Aryee, a prominent public figure in Ghana, has over 40 years in public and private sectors, including serving as CEO of the Ghana Chamber of Mines. The board also thanked Mr. James Hannon for his service as he steps down. Pelangio is focused on exploring gold properties in Ghana and Canada, with plans to enhance exploration activities in the region.
Pelangio Exploration has announced the initiation of its initial diamond drill program at the Hailstone gold project in Saskatchewan, covering 75 km². The focus is on the Asbell Bay target area, which constitutes 3% of the property, featuring eight high-priority drill targets over 1 km of the 1.8 km Asbell Bay trend. Notable occurrences include up to 15.9 g/t gold from the Bornite zone and 1.65 g/t Au from the Crocodile zone. The project is strategically located near former gold producers, enhancing its potential for valuable discoveries.
Pelangio Exploration Inc. has announced promising assay results from its Dankran Project in Ghana, revealing gold values up to 1.325 g/t from recent soil sampling. This infill sampling program has further defined gold-in-soil anomalies, particularly in the northern region, making it ready for drilling. Additionally, prospecting uncovered a significant trend of artisanal hard-rock workings extending from the nearby Obuom Mine. Preparations for a 2,500-meter drill program are in progress to explore these targets.
Pelangio Exploration has successfully closed the first tranche of its non-brokered private placement, raising $1,240,900. This tranche involved issuing 7,950,000 hard dollar units at $0.13 each and 1,220,000 flow-through shares at $0.17 each. Proceeds will be used for Canadian Exploration Expenses and advancing gold exploration projects in Ghana. A second tranche is planned for around December 8, 2020. All securities are subject to a hold period until April 4, 2021.
Pelangio Exploration has announced an increase in its non-brokered private placement, raising the total size from $1,800,000 to $2,221,000. The offering includes hard dollar units priced at $0.13 per unit and flow-through shares at $0.17 per share. Pelangio is focused on gold exploration in Ghana and Canada, with properties that include the Manfo and Obuasi properties in Ghana and the Grenfell property in Ontario. The company anticipates utilizing the new funds to advance its exploration initiatives.
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