Canada
Additional Properties
Seeley Lake
Pelangio owns 100% of the 760 acres Seeley (Lorna Lake) property and there is no underlying royalty. The Seeley property is located in the historic Hemlo area and is contiguous with the Wire Lake Property recently optioned by Canadian Orebodies Inc. During the Hemlo discovery era, Pelangio’s initial diamond drilling returned an intercept of 4.7 g/t gold over 1 metre. The drill program was supervised by Kevin Filo, P. Geo., and assay certificates from Bondar Clegg were verified. The Hemlo area is again becoming one of the more active exploration regions in Ontario. Pelangio did not complete any exploration activity in 2018 and no activity is currently planned.
Poirier
Pelangio owns 100% of the Poirier Gold Property Lease (47.34 hectares) located in Bristol Township, 22 km west of Timmins, contiguous with Pan American Silver Corp.’s (previously Tahoe Resources Inc.) Timmins and Thunder Creek deposits (collectively, the Timmins West Mine). The property is subject to a 1% NSR (which may be purchased for $1 million) payable to the vendors and a further 1% NSR payable to a third party.
The Poirier Gold Property is underlain near‐surface by a mafic volcanic unit approximately one kilometre to the west of the mafic, ultramafic and sedimentary contact, which dips steeply westwards towards our lease and which is associated with the Thunder Creek Project. A 100 meter‐spaced geophysical program of ground magnetics and GPS was completed in 2015. In 2016, a three‐dimensional geologic model was prepared for project area using all available public data and combined with results of a three‐dimensional magnetic inversion received in the third quarter 2015. Combining three‐dimensional geology with the magnetic data indicates good agreement between magnetic data and a magnetic ultramafic rock overlying the deposit. This data indicates that the favourable structure hosting the Rusk and Gap zones dips into the Poirier ground. The interpretation of the ground magnetic survey has improved the understanding of the geological setting of the Poirier Gold Property. A review and evaluation of the potential of this property is planned for the future.
Depending on continued results from the Thunder Creek Project, we may conduct further exploration and drill on the property.
Mann Property
The Mann property is located in Mann Township 50 km northeast of the City of Timmins and covers an area of approximately 2 km2. The patented claims cover a portion of a large ultramafic complex that is prospective for nickel, copper and cobalt. Some historical untested EM anomalies are present on the property. No recent work of significance has been conducted on the property.
Black Township
Pelangio owns 100% interest in the Black Township property located 100 kilometres east of Timmins, Ontario. It consists of two claims which were staked in 2010, and holds no underlying royalty.
Dalton
The Dalton Property is located 1.5km southwest of the Hollinger Mine in the Abitibi Greenstone Belt, the largest greenstone belt within the Canadian Shield. Newmont Goldcorp is currently operating a surface open pit at the former Hollinger site. The Abitibi Greenstone Belt is the most prolific Archean terrain in terms of copper-zinc sulphide mineralization and gold mineralization. Major east and northeast trending faults (the Destor-Porcupine Deformation Zone and the Cadillac Deformation Zone) were active through the main period of volcanism. Over 120 million ounces of gold have been produced from mines associated with these two major structures in the Timmins, Kirkland Lake and Holloway gold camps. The Destor Porcupine fault is located approximately 2 km south of the property. Pelangio currently controls 10% interest in the Dalton property.