TORONTO, Ontario (November 7, 2019) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the “Company”) is pleased to announce the appointment of Kevin P. Thomson to Senior Vice President Exploration for the Company and to provide an update on results of the small first phase drill program at the Dalton Property in Timmins and future exploration plans for three of its Ontario properties.
Appointment of Kevin P. Thomson
Mr. Thomson is currently a director of Pelangio and has provided technical expertise to the Company since his appointment to the board in May 2017. Mr. Warren Bates has transitioned from Senior Vice President Exploration to become the Senior Technical Advisor to Pelangio’s Technical Committee.
Ingrid Hibbard, President and CEO of Pelangio Exploration stated, “Warren has been an integral part of our Company for over a decade and was instrumental in defining the maiden resource at Manfo. Kevin brings a wealth of experience in Ghana and Canada. We are delighted to have both Kevin and Warren supporting our exploration efforts.”
Kevin Thomson is a senior mining professional with a 30-year career, including international technical, corporate, and project management experience in West Africa and Canada. His expertise ranges from project generation and grass-roots exploration to resource development, project assessment and due diligence. Kevin previously resided in Ghana for 12 years, during which time he served as Group Exploration Manager at Perseus Mining Limited and Regional Exploration Manager at Newmont Mining Corp. Kevin holds an Hons. BSc., Geology & Physical Geography from McMaster University and is a member of the Association of Professional Geoscientists of Ontario.
Dalton Property Exploration
The Dalton Property is located approximately 1.5 km southwest of Newmont Goldcorp’s Hollinger open pit operation. The Hollinger Mine is the largest gold mine in the Timmins Camp with historical production in excess of 19.3 million oz of gold (see Figure 1).
A total of 504 meters of drilling was completed to evaluate four separate geophysical targets in the extreme southern portion of the property (see Figure 2), proximal to the Destor Porcupine Fault. All drill holes intersected substantial pyrite mineralization in sheared Tisdale Group Volcanics, although no significant gold values were associated with this mineralization. To date the company has drill tested less than 5% of the property and expended approximately $163,000.
Pelangio intends to re-focus its exploration efforts at the Dalton Property on strong gold, silver, and zinc soil geochemical anomalies (see Figure 2) along the eastern and northern extremities of this very under-explored and overburden covered property. Future work on the project will consist of further geophysical surveying over the soil geochemical anomalies and a phase 2 diamond drill program to evaluate higher priority targets.
Ontario Exploration Plans 2020
In January 2020, the Pelangio intends to initiate a 1200 meter drill program on its Grenfell Project, located approximately 10 km northwest of Kirkland Lake Ontario. The property hosts a number of high grade narrow veins and potential bulk tonnage zones (as described in Pelangio’s press release dated August 27, 2019), including two separate historical bulk samples to evaluate two of the vein systems. The Sirola Vein (surface pit) bulk sample returned 21.7 tons at 0.456 oz/ton gold and the No. 1 Vein (60-foot level) bulk sample returned 177 ton at 0.70 oz/ton gold. (J.Londry, P.Eng., “Report on the John Sirola Property, Grenfell Township, 1985”).
In addition, the company anticipates all permitting and access agreements for its Dome West Property to be completed by year end 2019. This will enable Pelangio to complete the proposed Dome West drill program of approximately 1400 meters. The proposed drilling will follow up on a recent gold intercept of 3.21 g/t gold over 1.25 meters (including 4.75 g/t gold over 0.75 meters) discovered by Pelangio (see press release June 13, 2019) and further evaluate the prospective Tisdale Volcanics for any new gold zones which may extend down dip from the adjoining Paymaster Mine or along strike from Newmont Goldcorp’s Dome Mine.
Continued target development at the Dalton Property will be run concurrently with the two proposed drill programs in order to prepare for phase 2 drilling in 2020.
Quality Assurance/Quality Control Procedures
All core logging and sampling were conducted in a secure core logging facility in Timmins Ontario. Core logging and sampling of NQ diamond drill core was carried out by K. Filo P.Geo. Core logging and sampling adhered to 43-101 protocols and industry standard best practices. In the case of the recent drill program, all drill core from each hole was sampled entirely, sample intervals varied from 0.21 meters to a maximum of 1.5 meters. Drill core was sawn in half with a diamond saw, tagged, and placed in securely sealed bags. Samples were transported directly to Actlabs facility in Timmins Ontario by Pelangio personnel. Half of the core was retained for reference purposes.
Gold analysis at Actlabs was completed using a standard fire assay with 50 gram charge with an atomic absorption (AA) finish (Actlabs 1A2-50 Procedure). With each sample batch of 30 samples a minimum of one Oreas standard and one blank sample were submitted for QA/QC purposes. All blanks and standards analyzed fell within acceptable tolerances. Full details on these Actlabs analysis procedures and associated sample preparation can be reviewed on the Actlabs web site.
Qualified Person
Kevin Filo, P. Geo. (Ontario), is a Qualified Person within the meaning of National Instrument 43-101. Mr. Filo has approved the technical data disclosed in this release.
About Pelangio
Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts. The Company operates in both Canada and Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa. The Company is exploring three 100%-owned camp-sized properties: the 25km2Birch Lake Property located adjacent to First Mining’s Springpole Gold Project, the 100 km2 Manfo Property, the site of seven recent 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. The company is also exploring two properties located in the Timmins Camp: the Dome West property, located 800 m from the Dome Mine, the Dalton property located 1.5 km from the Hollinger Mine, and the Grenfell property located 10 km northwest of the Macassa Mine near Kirkland Lake.
Figure 1: Dalton and Dome West Property Relative to Major Timmins Mines
Figure 2: Dalton Property Drill Location and Geochemical Anomaly Location Map
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
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 ability to complete the planned work programs, the Company’s strategy of acquiring land packages in areas of sizable 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, gold price volatility, political developments in Ghana, increases in costs, exchange rate fluctuations, speculative nature of gold exploration and other risks involved in the gold exploration industry, might not encounter favourable exploration results. 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 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.
