Pelangio Delays MRE Release Following Strategic New Acquisition of Nkosuo
Pelangio Exploration (TSXV: PX, OTC: PGXPF) has announced a delay in releasing its Mineral Resource Estimate (MRE) for the Manfo Project following a strategic agreement with FJ Minerals The deal allows Pelangio to acquire up to 83% interest in the adjacent Nkosuo Project.
The company requires additional time to incorporate newly available property and historical data into the updated MRE, which will now encompass both projects. The combined Manfo-Nkosuo assessment will include:
- Analysis of drilled targets at the boundary of both properties
- Review of the structural interpretation across a 4.4km mineralized corridor
- Development of a more comprehensive MRE to support a future Preliminary Economic Assessment (PEA)
The updated MRE is now scheduled for completion in the third quarter of 2025, aligning with the broader exploration and development timeline of the combined project.
Pelangio Exploration (TSXV: PX, OTC: PGXPF) ha annunciato un ritardo nella pubblicazione della sua Stima delle Risorse Minerarie (MRE) per il Progetto Manfo a seguito di un accordo strategico con FJ Minerals. L'accordo consente a Pelangio di acquisire fino all'83% di interesse nel vicino Progetto Nkosuo.
L'azienda richiede ulteriore tempo per incorporare i nuovi dati disponibili sulla proprietà e i dati storici nella MRE aggiornata, che ora comprenderà entrambi i progetti. La valutazione combinata Manfo-Nkosuo includerà:
- Analisi degli obiettivi perforati al confine tra le due proprietà
- Revisione dell'interpretazione strutturale lungo un corridoio mineralizzato di 4,4 km
- Sviluppo di una MRE più completa per supportare una futura Valutazione Economica Preliminare (PEA)
La MRE aggiornata è ora programmata per essere completata nel terzo trimestre del 2025, in linea con la più ampia tempistica di esplorazione e sviluppo del progetto combinato.
Pelangio Exploration (TSXV: PX, OTC: PGXPF) ha anunciado un retraso en la publicación de su Estimación de Recursos Minerales (MRE) para el Proyecto Manfo tras un acuerdo estratégico con FJ Minerals. Este acuerdo permite a Pelangio adquirir hasta un 83% de interés en el adyacente Proyecto Nkosuo.
La empresa necesita más tiempo para incorporar los nuevos datos disponibles sobre la propiedad y los datos históricos en la MRE actualizada, que ahora abarcará ambos proyectos. La evaluación combinada Manfo-Nkosuo incluirá:
- Análisis de los objetivos perforados en el límite de ambas propiedades
- Revisión de la interpretación estructural a lo largo de un corredor mineralizado de 4.4 km
- Desarrollo de una MRE más completa para apoyar una futura Evaluación Económica Preliminar (PEA)
La MRE actualizada ahora está programada para completarse en el tercer trimestre de 2025, alineándose con la cronología más amplia de exploración y desarrollo del proyecto combinado.
펠란지오 탐사 (TSXV: PX, OTC: PGXPF)는 FJ 미네랄스와의 전략적 협약에 따라 만포 프로젝트의 광물 자원 추정치(MRE) 발표가 지연되었다고 발표했습니다. 이 거래를 통해 펠란지오는 인접한 엔코수오 프로젝트에서 최대 83%의 지분을 인수할 수 있습니다.
회사는 업데이트된 MRE에 새로 확보된 재산 및 역사적 데이터를 포함하기 위해 추가 시간이 필요하며, 이제 두 프로젝트를 모두 포함할 것입니다. 통합된 만포-엔코수오 평가에는 다음이 포함됩니다:
- 두 재산의 경계에서의 시추 목표 분석
- 4.4km의 광물화된 회랑을 가로지르는 구조적 해석 검토
- 향후 예비 경제 평가(PEA)를 지원하기 위한 보다 포괄적인 MRE 개발
업데이트된 MRE는 이제 2025년 3분기 완료 예정이며, 통합 프로젝트의 광범위한 탐사 및 개발 일정과 일치합니다.
Pelangio Exploration (TSXV: PX, OTC: PGXPF) a annoncé un retard dans la publication de son Estimation des Ressources Minérales (MRE) pour le Projet Manfo suite à un accord stratégique avec FJ Minerals. Cet accord permet à Pelangio d'acquérir jusqu'à 83% d'intérêt dans le Projet Nkosuo adjacent.
L'entreprise nécessite plus de temps pour intégrer les nouvelles données disponibles sur la propriété et les données historiques dans la MRE mise à jour, qui comprendra désormais les deux projets. L'évaluation combinée Manfo-Nkosuo inclura :
- Analyse des cibles forées à la limite des deux propriétés
- Examen de l'interprétation structurelle sur un corridor minéralisé de 4,4 km
- Développement d'une MRE plus complète pour soutenir une future Évaluation Économique Préliminaire (PEA)
La MRE mise à jour est maintenant prévue pour être terminée au troisième trimestre de 2025, en accord avec le calendrier d'exploration et de développement plus large du projet combiné.
Pelangio Exploration (TSXV: PX, OTC: PGXPF) hat eine Verzögerung bei der Veröffentlichung seiner Mineralressourcenschätzung (MRE) für das Manfo-Projekt bekannt gegeben, nachdem ein strategisches Abkommen mit FJ Minerals geschlossen wurde. Das Abkommen ermöglicht es Pelangio, bis zu 83% an dem angrenzenden Nkosuo-Projekt zu erwerben.
Das Unternehmen benötigt zusätzliche Zeit, um neu verfügbare Grundstücks- und historische Daten in die aktualisierte MRE zu integrieren, die nun beide Projekte umfassen wird. Die kombinierte Bewertung Manfo-Nkosuo wird Folgendes beinhalten:
- Analyse der gebohrten Ziele an der Grenze beider Grundstücke
- Überprüfung der strukturellen Interpretation über einen mineralisierten Korridor von 4,4 km
- Entwicklung einer umfassenderen MRE zur Unterstützung einer zukünftigen vorläufigen Wirtschaftlichkeitsbewertung (PEA)
Die aktualisierte MRE soll nun im dritten Quartal 2025 abgeschlossen werden und steht im Einklang mit dem umfassenderen Explorations- und Entwicklungszeitplan des kombinierten Projekts.
- Strategic expansion through option to acquire 83% of adjacent Nkosuo Project
- Integration creates larger combined property with 4.4km mineralized corridor
- Access to additional historical drilling data and structural information
- Enhanced potential for more comprehensive Preliminary Economic Assessment
- Significant delay in MRE completion until Q3 2025
- Additional due diligence period required before project integration
Toronto, Ontario--(Newsfile Corp. - March 19, 2025) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") announces an extension to the timeline for the completion of the Mineral Resource Estimate (MRE) for the Manfo Project. This extension follows the recent strategic agreement with FJ Minerals Limited ("FJ") for the option to acquire up to an
Pending the due diligence period, the Nkosuo Project is expected to become an integral part of a larger Manfo-Nkosuo combined project. The Company has determined that additional time will be required to incorporate the newly available property and historical data into the updated MRE.
The dataset, which includes historical drilling results, artisanal mining information, and structural continuity analysis between the Manfo and Nkosuo Projects, will allow for a more comprehensive and accurate assessment of the mineralization potential across the combined property.
Key Considerations for the MRE Update:
- Drilled targets on the boundary of Manfo and Nkosuo may be modelled and included in a 43-101 compliant resource estimate.
- A review of the structural interpretation of the 4.4km mineralized corridor extending from Manfo into the Nkosuo to evaluate new Exploration Targets.
- A more comprehensive MRE that will allow for a more robust Preliminary Economic Assessment (PEA) on a Manfo-Nkosuo combined project.
"The integration of the Nkosuo Project is a pivotal moment for Pelangio," commented Ingrid Hibbard, President and CEO of Pelangio. "By taking the necessary time to update the MRE, we are ensuring to fully assess and establish the right foundations for future development."
Pelangio remains committed to transparency and technical diligence in its resource modeling efforts. The updated MRE is now expected to be completed in the third quarter of 2025, aligning with a broader exploration and development timeline of the Manfo-Nkosuo combined project currently being established.
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
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
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
Forward-Looking Statements/ Cautionary Language
1 Neighbouring properties' deposits do not necessarily apply to the adjoining properties. See Anglo-Gold Ashanti Mineral Resources and Mineral Reserve Report at 31 December 2023.
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 the acquisition of the Nkosuo Project, the planned work programs, 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 including a forest entry permit, 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/245301
FAQ
When will Pelangio (PGXPF) release the updated Mineral Resource Estimate for Manfo-Nkosuo?
What percentage stake can Pelangio acquire in the Nkosuo Project?
How long is the mineralized corridor in the combined Manfo-Nkosuo project?
What are the main reasons for PGXPF delaying the Manfo Project MRE?
