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Hi dayneyus welcome back to PELANGIO MINES INC (TSX:PLG);
Management and Advisory Committee
Ingrid Hibbard, LL.B. Note. Ms. Hibbard is currently a director of Kirkland Lake Gold.
Ms Hibbard; President & Chief Executive Officer
Ingrid Hibbard was appointed President and CEO of Pelangio Mines (Pelangio
Exploration's predecessor) in 1996.
She is a mining and securities lawyer with over 25 years of experience in
the mining industry. Previously, she was in private practice having
clients ranging from junior explorers to major mining companies such as
Noranda Mines and Hemlo Gold Mines.
Ms. Hibbard is currently a director of Kirkland Lake Gold.
https://investorshub.advfn.com/Pelangio-Exploration-Inc-PGXPF-24873/
Pelangio Exploration PX:TSX-V, PGXPF:OTCBB
Is this the same company with symbol change. TIA
http://www.pelangio.com/Projects/Default.aspx
Yes, its the same company and the website is right one!!!
updated 2/1/2011 6:00:00 AM ET 2011-02-01T11:00:00
TORONTO, ONTARIO — Pelangio Exploration Inc. (TSX VENTURE: PX)(OTCBB: PGXPF) ("Pelangio" or the "Company") is pleased to provide an exploration outlook for its Manfo and Obuasi Properties in Ghana. Highlights of ongoing and intended 2011 exploration programs include:
Manfo Property - Sefwi Belt - 100 square kilometres
-- 15,000 metre diamond drilling program, including 5,000+ metre ongoing
drilling program and 10,000 metre next phase program expected to
commence in early summer;
-- Drill programs intended to expand and define four near-surface
discoveries along strike and at depth and to test previously undrilled
targets;
-- Property-wide geophysics and geochemistry programs to identify new
targets beyond 10 square kilometre area prioritized to date;
-- Further drill rig(s) to be added at Manfo during second half of 2011.
To view a plan view of results and future plans on the Manfo Property, see: http://media3.marketwire.com/docs/Pelangio_image1.pdf.
Obuasi Property - Ashanti Belt - 290 square kilometres
-- 10,000 metre diamond drilling program, focusing on new priority targets
at Ayaase and Bura and follow up targets at Mount Kate, Big Vein, Tikal,
NT1 and Government Area;
-- Strong gold and arsenic geochemical anomalies identified at Ayaase
target, characteristic of ore at the neighbouring Obuasi Mine;
-- Trenching at Ayaase confirms gold mineralization in anomalies,
encountering up to 1.8 g/t gold over 13 metres (including 10.20 g/t gold
over 2.0 metres) (cut to 20 g/t) and, 500 metres southwest, 1.47 g/t
gold over 12 metres;
-- Trenching at Government Area encounters 1.03 g/t gold over 21 metres,
600 metres on strike from gold mineralization previously intersected by
drilling at NT1;
-- Energold Drilling Corp. engaged to complete up to 20,000 metres of
diamond drilling between Obuasi and Manfo, commencing at Obuasi during
first quarter of 2011.
To view a plan view of geochemical and trenching results from the Obuasi Property, see: http://media3.marketwire.com/docs/Pelangio_image2.pdf.
"2011 promises to be a transformative year for Pelangio," stated Ingrid Hibbard, President and Chief Executive Officer. "We have only scratched the surface of our four near-surface discoveries on the Manfo Property, all of which remain open at depth and along strike. These discoveries demand significant further drilling, and we expect that extensive ongoing surface work will yield other targets for discovery on the property."
Ms. Hibbard continued, "On the Obuasi Property, we have discovered surface showings at Ayaase and Bura that offer the most compelling drill targets that we have yet seen on the property. We will also be advancing several areas drilled during previous programs at Obuasi. Between Manfo and Obuasi, we plan to be drilling throughout the year on two world-class exploration prospects totaling nearly 400 square kilometres on Ghana's premier gold belts."
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Manfo Property Outlook
Since optioning the Manfo Property in August 2010, Pelangio has drilled 29 holes on four targets and has made four near-surface discoveries. Significant previously reported assay results include:
----------------------------------------------------------------------------
From To Interval Au Hole Length
Area DHID (metre) (metre) (metres)(1) (g/t) (metres)
----------------------------------------------------------------------------
Nfante West SFDD-079 16 77 61 1.50 (2) 141.1
----------------------------------------------------------------------------
including 26 44 18 3.00
----------------------------------------------------------------------------
SFDD-082 12 52 40 0.91 127.0
----------------------------------------------------------------------------
SFDD-096 64 107 43 1.11 141
----------------------------------------------------------------------------
including 94 101 7 2.65
----------------------------------------------------------------------------
SFDD-100 25 48 23 1.05 149
----------------------------------------------------------------------------
including 31 39 8 2.67
----------------------------------------------------------------------------
Pokukrom West SPDD-083 16 44 28 4.18 96
----------------------------------------------------------------------------
including 31 43 12 8.00
----------------------------------------------------------------------------
SPDD-084 27 39 12 8.60 90
----------------------------------------------------------------------------
SPDD-090 14 23 9 36.21 (3) 51.5
----------------------------------------------------------------------------
SPDD-091 140 148 8 2.27 218
----------------------------------------------------------------------------
SPDD-092 11 20 9 8.68 77
----------------------------------------------------------------------------
Pokukrom East SPDD-085 98 131 33 1.64 246
----------------------------------------------------------------------------
including 116 129 13 3.37
----------------------------------------------------------------------------
SPDD-086 2 59 57 0.60 180
----------------------------------------------------------------------------
including 2 20 18 1.11
----------------------------------------------------------------------------
SPDD-088 1 54 53 1.39 (4) 144
----------------------------------------------------------------------------
including 35 40 5 24.7 (5)
----------------------------------------------------------------------------
SPDD-089 56 102 46 1.03 141
----------------------------------------------------------------------------
SPDD-106 2 54 52 1.36 103
----------------------------------------------------------------------------
including 41 54 13 3.47
----------------------------------------------------------------------------
SPDD-107 63 135 72 1.13 222
----------------------------------------------------------------------------
including 83 134 51 1.50
----------------------------------------------------------------------------
including 116 127 11 3.53
----------------------------------------------------------------------------
Nfante East SFDD-094 53 86 33 0.95 198
----------------------------------------------------------------------------
(1) Intervals are core lengths. True widths will be determined with further
drilling.
(2) Weight-averaged results of fire assay and metallic screen analyses.
(3) 19.54 g/t gold if higher grade intervals are cut to 30 g/t.
(4) Higher grade intervals cut to 20 g/t.
(5) 13.24 g/t gold if higher grade intervals are cut to 30 g/t.
The gold mineralization encountered at Manfo to date is similar to that of granitoid-hosted deposits in Ghana, including those at Ahafo (Newmont) and Chirano (Kinross) on the Sefwi greenstone belt. These deposits host multi-million ounce, near-surface, bulk tonnage gold mineralization in a series of pits at grades between 1 g/t and 2.5 g/t, but also host higher grade underground deposits at depth. The bulk tonnage grades and widths that Pelangio has encountered at Manfo to date compare very favourably with these deposits, while certain of the results encountered at Pokukrom West and East also demonstrate potential for high grade gold mineralization similar to underground deposits found at Ahafo and Chirano.
Pelangio's exploration focus on the Manfo Property is to identify near-surface, drill ready targets through geochemical sampling and to test and extend such targets with drilling and geophysical surveying. The Company's aim during 2011 is to discover and delineate as many gold mineralized zones on the Manfo Property as possible.
Obuasi Property Outlook
The Obuasi Property is located immediately adjacent to and on strike with AngloGold Ashanti's Obuasi Mine, which has produced over 30 million ounces of gold since 1897 and currently holds a further 29.50 million ounces of gold in reserves and resources (9.65 million ounces of proven and probable reserves grading 7.14 g/t gold in a global resource grading 6.41 g/t comprising 18 million ounces of measured and indicated resources and 11.5 million ounces of inferred resources - refer to AngloGold Ashanti's Mineral Resource and Ore Reserve Report 2009 (the "Obuasi Resource Report")).
Gold mineralization at the Obuasi Mine is shear zone related and hosted in a series of ore shoots. The shoots have approximate strike lengths of 80 to 200 metres, widths of three to 20 metres, plunge lengths of up to 2,500 metres and are being mined at depths of 1,500 metres with further high grade resources being added below current mining infrastructure. The shoots average between three and five million ounces of gold each and have been explored or mined to within a few kilometres of the Obuasi Property's borders (refer to Allibone, A.H. et al. 2002. Structural Controls on Gold Mineralisation at the Ashanti Deposit, Obuasi, Ghana. Society of Economic Geologists, Special Publication 9, p. 65-93).
Pelangio's exploration focus on the Obuasi Property is the extension of the Obuasi Mine trend, with the goal of intersecting previously undiscovered Obuasi-style ore shoots relatively near surface.
Recent exploration efforts have primarily focused on the Ayaase and Bura targets, at each of which a series of contourable 40 ppb, 70ppb and 100 ppb gold anomalies ranging between 100 and 400 metres in strike length have been identified.
At Ayaase, in particular, these anomalies are associated with contourable 100 ppb and 200 ppb arsenic anomalies. The association of significant gold and arsenic anomalies had previously not been encountered on the Obuasi Property and represents an important exploration success, as higher gold grades at the Obuasi Mine tend to be associated with finer grained arsenopyrite crystals (an iron arsenic sulphide) (refer to the "Obuasi Resource Report").
Subsequent trenching at Ayaase and Bura encountered the following significant assay results in bedrock, providing strong evidence that the anomalies are associated with in situ gold mineralization:
--------------------------------------------------------------
Interval Au
Area TID (metres) (g/t)
--------------------------------------------------------------
Ayaase AY-10-03 13 2.70 (1)
--------------------------------------------------------------
including 2 16.00 (2)
--------------------------------------------------------------
AY-10-01 12 1.47
--------------------------------------------------------------
Bura BT-TR10-01 4 1.05
--------------------------------------------------------------
BU-TR-02 33 0.50
--------------------------------------------------------------
BSE-10-06 4 1.95
--------------------------------------------------------------
(1) 1.8 g/t gold if higher grade intervals are cut to 20 g/t.
(2) 10.2 g/t gold if higher grade intervals are cut to 20 g/t.
The Company has also recently encountered significant gold mineralization in trench GA-08 at the Government Area, a Tarkwaian-style target on the contact between the Birimian and Tarkwaian, approximately 600 metres from previous drill holes at the NT1 target, which included 1.10 g/t gold over 13.95 metres (PG07NT1-3) and 0.26 g/t gold over 78 metres (PG10-NT1-81). Trench results include:
--------------------------------------------------------------
Interval Au
Area TID (metres) (g/t)
--------------------------------------------------------------
Government Area GA-08 21 1.03
--------------------------------------------------------------
including 1 10.80
--------------------------------------------------------------
and 1 8.20
--------------------------------------------------------------
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The trench and drilling both tested Tarkwaian sediments and are in the same geological setting. Two additional trenches are underway in the area to explore the mineralization further prior to upcoming drill programs.
Proposed Drilling Programs
At Manfo, Pelangio is currently conducting a 5,000+ metre program at the Nfante West and Pokukrom West and East Zones, as well as at targets located outside of these discovery zones, which is expected to be completed during the first quarter of 2011. Drilling at Manfo is being conducted by Burwash Contract Drilling of British Columbia. A next phase program totaling approximately 10,000 metres of diamond drilling is expected to commence early in the third quarter of 2011, which will further define the gold mineralized zones at Nfante West and Pokukrom East and West, as well as following up on the previously reported discovery at Nfante East, strong anomalies identified at Sika North, and other anomalies and targets currently being identified through ongoing surface work.
Pelangio has commissioned E Global Drilling Corp., a subsidiary of Energold Drilling Corp. of British Columbia, to provide 20,000 metres of diamond drilling, which will be divided between the Manfo and Obuasi Properties. The Company is currently planning an initial drill program of approximately 5,000 metres for the Obuasi Property, which will focus on the Ayaase, Bura, Tikal, Mount Kate, Big Vein, NT1 and Government Area targets. The program is expected to commence during the first quarter of 2011. A second program of up to 10,000 metres at Obuasi is expected to commence during the third quarter of 2011.
Addition to Pelangio's Exploration Team
Pelangio is pleased to announce that Francis Duku, B.Sc., M.B.A. has been added to the Company's exploration team on the Manfo Property as Project Geologist, Manfo. Mr. Duku was Chief Geologist and subsequently Project Manager on the nearby Chirano gold deposit for Red Back Mining and its predecessors, where he worked from early exploration, through discovery and feasibility. He has mineral exploration experience in a number of other African countries, including Mali, Burkina Faso, Liberia and the Democratic Republic of Congo (where he worked for Banro Corporation) and production experience at the Tarkwa Mine in Ghana. Mr. Duku holds a B.Sc. (Geological Engineering, Ghana) and an M.B.A. (Ghana) and is a member of the Australian Institute of Mining & Metallurgy.
Mr. Duku joins Pelangio's strong Ghanaian exploration team, which also includes Forson Kari Kari, B.Sc., M.Sc., Project Geologist, Obuasi. Mr. Kari Kari has been working with Pelangio since initial due diligence was conducted on the Obuasi property in 2005 and was promoted to the position of Project Geologist, Obuasi in 2010. He has exploration experience in Ghana and Burkina Faso, as well as production experience in Ghana from the Ahafo and Konongo mines. Mr. Kari Kari holds a B.Sc. (Hons. Geology, Ghana) and a M.Sc. (Mineral Exploration and Evaluation, Netherlands) and is currently a Ph.D. candidate at the University of Vienna, Austria. He is a member of the Ghana Institution of Geoscientists.
Pelangio's exploration team in Ghana is led by Sam Torkornoo, B.Sc., M.B.A., Exploration Manager. Mr. Torkornoo has worked with Pelangio since 2006 and was appointed Exploration Manager in 2010. He has provided consulting services to Perseus Mining (Central Ashanti Gold Project) and Xtra-Gold Resources (Kibi Project). Mr. Torkornoo also conducted early due diligence on the Esaase gold project, now held by Keegan Resources, and was a member of the team that discovered the Abore North gold deposit (now held by PMI Gold). He holds a B.Sc. (Geological Engineering, Ghana) and an M.B.A. (International Resources and Environmental Management, Germany) and is a member of the Australian Institute of Mining & Metallurgy, the Ghana Institute of Geoscientists and the Canadian Institute of Mining, Metallurgy and Petroleum.
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this press release were drilled using HQ (63.5 mm) and NQ (47.6 mm) sized diamond drill bits. Company security is provided at the drill site. Contractors working for Pelangio conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of one metre, then divided into halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Pelangio compound in Tepa, Ghana. The other half was sampled, placed into sealed bags and securely stored at the site until it was shipped to the ALS Chemex laboratory in Kumasi, Ghana. The core was dried and crushed by ALS Chemex and a 150 gram pulp was prepared from the coarse crushed material. ALS Chemex conducted routine gold analysis using a 50 gram charge and fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream at the rate of one per every 20 samples. In addition, ALS Chemex inserted one preparation blank and a certified reference sample in every 20 samples, and ran one duplicate analysis every 20 samples.
In respect of SFDD-079, every sample returning more than 100 ppb gold was subsequently sent for follow-up metallic screening analysis, in which a 1000 gram pulp was analyzed. The screening of samples produced two size fractions - less than 75 micrometres (um) and greater than 75 um. These fractions were then analyzed independently by fire assay and atomic absorption.
All trench and soil samples were collected by contractors working for Pelangio. The trench samples were collected starting at the western end of the trench and working towards the east. The average dimensions of the samples were 4 cm deep by 5 cm wide and 1 metre long with an average weight of roughly two kilograms. The samples were then taken to a secure storage facility at the Pelangio compound in Tepa and subsequently dispatched in sealed bags to ALS Chemex Laboratories in Kumasi, Ghana. The samples were dried and crushed by ALS Chemex and a 150-gram pulp was prepared from the coarse crushed material. Routine gold analysis was conducted by ALS Chemex using a 50-gram charge and fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream at the rate of one per every 25 samples. In addition, ALS Chemex inserted one preparation blank and a certified reference sample in every 20 samples and ran one duplicate analysis every 20 samples.
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In respect of soil samples, roughly two kilograms of sample material was collected at each location and sent to SGS Laboratories in Tarkwa where it was dried, crushed and separated for analysis. Two types of analysis were conducted on the samples: a one-kilogram cyanide leach and a 50-gram fire assay with atomic absorption finish. A certified lab blank was inserted into the sample stream every 25 samples as part of Pelangio's quality control procedure, while SGS completed a duplicate assay every 20 samples.
The exploration programs at the Manfo and Obuasi Properties are overseen by Warren Bates, P. Geo. (Ontario), a Qualified Person within the meaning of National Instrument 43-101. Mr. Bates has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information.
About Pelangio
Pelangio is a junior gold exploration company that acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. Pelangio's 100 square kilometre Manfo Property, which lies on Ghana's Sefwi greenstone belt between the Ahafo and Chirano mines, respectively operated by Newmont and Kinross, is the site of recent near-surface discoveries on four separate targets, including 36.21 g/t gold over 9 metres, 24.7 g/t gold over 5 metres; 1.5 g/t gold over 61 metres and 0.95 g/t gold over 33 metres. The Company is also actively exploring its 290 square kilometre Obuasi Property, located on strike and adjacent to AngloGold Ashanti's Obuasi Mine, which has produced over 30 million ounces of gold since 1897.
For additional information, please visit our website at httP://www.pelangio.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
Hi NTBob thanks for the Heads up been a long time, one must be patient with Mining Stocks, that post was 2011!
Looks like a good deal for PLG fills the need for liquidity to move the other projects.
Hi dayneyus; First Mining Gold Corp. to Option Pelangio Exploration's Birch Lake Project
TORONTO, Ontario (October 4, 2021) –
https://www.pelangio.com/news-releases/2021/pelangio-exploration-options-birch-lake-project/
Pelangio Exploration Inc. (TSXV:PX; OTC PINK:PGXPF) (“Pelangio” or the
“Company”) is pleased to announce that it has entered into an earn-in
agreement with First Mining Gold Corp.
(“First Mining”) and Gold Canyon Resources Inc. (“Gold Canyon”), a
wholly-owned subsidiary of First Mining, on Pelangio’s Birch Lake and
Birch Lake West properties (together, the “Birch Lake Project”) which
is adjacent to First Mining’s Springpole Gold Project (see Figure 1),
located approximately 120 km northeast of Red Lake, Ontario.
Highlights:
Collaboration with First Mining, a well-financed strategic partner in a potential new mining camp.
First Mining, through Gold Canyon, may acquire up to an 80% interest in the Birch Lake Project by incurring $3,500,000 in exploration expenditures, making $750,000 in cash option payments to Pelangio ($400,000 of which may, at First Mining’s election, be made in shares of First Mining) and issuing 1,300,000 shares of First Mining to Pelangio.
“We are delighted to have entered into the earn-in agreement with First Mining in this new and evolving gold camp. We believe that Pelangio’s Birch Lake Project represents a high-grade gold exploration opportunity with significant potential to complement ongoing mine development at First Mining’s Springpole Gold Project. We are looking forward to working with First Mining,” commented Ingrid Hibbard, President and CEO. “This agreement unlocks the inherent value of this project for our shareholders while we concurrently explore and evaluate the discovery potential at Dome West and Gowan in Ontario, and at our Manfo and Obuasi projects in Ghana,” she added.
Agreement Terms:
Pursuant to the earn-in agreement among Pelangio, First Mining and Gold Canyon, Gold Canyon may earn an initial 51% interest in the Birch Lake Project by paying Pelangio a total of $350,000 in cash, issuing to Pelangio 1,300,000 First Mining shares and completing $1,750,000 in exploration expenditures, in accordance with the following schedule:
Cash Payments
Share Issuances
Exploration
Expenditures
Year
$50,000
250,000
On the Closing Date
$50,000
250,000
Minimum $250,000
On or before the First Anniversary of the Closing Date
$50,000
250,000
On or before the Second Anniversary of the Closing Date
$50,000
250,000
On or before the Third Anniversary of the Closing Date
$150,000
300,000
Additional $1,500,000
On or before the Fourth Anniversary of the Closing Date
Upon completion of the 51% earn-in, Gold Canyon has the right to earn a further 29% interest (for a total interest of 80%) in the Birch Lake Project for a period of up to two years from the date of the exercise of the 51% earn-in right (the “Second Earn-In Period”). In order to earn the additional 29%, Gold Canyon or First Mining shall complete, within the Second Earn-In Period, a further $1,750,000 in exploration expenditures and either pay Pelangio $400,000 in cash or issue to Pelangio such number of shares of First Mining equal to $400,000 divided by the market price of First Mining shares on the day immediately prior to the date of issuance. Gold Canyon and Pelangio shall form a 51%/49% joint venture with respect to the Birch Lake Project if the 51% earn-in is completed and the second earn-in is not completed. If the second earn-in is completed, Gold Canyon and Pelangio shall form an 80%/20% joint venture with respect to the Birch Lake Project.
Figure 1: Claim Map
Birch Lake Property, Red Lake District
Pelangio's Birch Lake property is located within the Birch-Uchi Greenstone Belt, approximately 120 km northeast of the town of Red Lake, Ontario. Within an eight km radius of the Birch Lake property, there is a large gold resource (Springpole Deposit) and a past producer (Argosy Mine) which produced 101,875 ounces of gold at an average grade of 0.37 ounce per ton (reference: Ontario Geological Survey Open File Report 5835). Over the last decade, significant exploration was conducted in this area by Gold Canyon on the Springpole Deposit, now controlled by First Mining. The Pelangio land holdings are contiguous....
cont....
https://www.pelangio.com/news-releases/2021/pelangio-exploration-options-birch-lake-project/
https://www.pelangio.com/
dayneyus' on 'PELANGIO MINES INC (TSX:PLG) -
yes, it still is and it's active in Canada &
Ghana -
with the same home site you pointed out....
http://www.pelangio.com/Projects/Default.aspx
I also been a shareholder since long time and
it's good to see they doing more drilling
exploration and got new old mine properties
to work on )
God Bless
Hi NYBob come across Pelangio Exploration PX:TSX-V, PGXPF:OTCBB
Is this the same company with symbol change. TIA
http://www.pelangio.com/Projects/Default.aspx
updated 2/1/2011 6:00:00 AM ET 2011-02-01T11:00:00
TORONTO, ONTARIO — Pelangio Exploration Inc. (TSX VENTURE: PX)(OTCBB: PGXPF) ("Pelangio" or the "Company") is pleased to provide an exploration outlook for its Manfo and Obuasi Properties in Ghana. Highlights of ongoing and intended 2011 exploration programs include:
Manfo Property - Sefwi Belt - 100 square kilometres
-- 15,000 metre diamond drilling program, including 5,000+ metre ongoing
drilling program and 10,000 metre next phase program expected to
commence in early summer;
-- Drill programs intended to expand and define four near-surface
discoveries along strike and at depth and to test previously undrilled
targets;
-- Property-wide geophysics and geochemistry programs to identify new
targets beyond 10 square kilometre area prioritized to date;
-- Further drill rig(s) to be added at Manfo during second half of 2011.
To view a plan view of results and future plans on the Manfo Property, see: http://media3.marketwire.com/docs/Pelangio_image1.pdf.
Obuasi Property - Ashanti Belt - 290 square kilometres
-- 10,000 metre diamond drilling program, focusing on new priority targets
at Ayaase and Bura and follow up targets at Mount Kate, Big Vein, Tikal,
NT1 and Government Area;
-- Strong gold and arsenic geochemical anomalies identified at Ayaase
target, characteristic of ore at the neighbouring Obuasi Mine;
-- Trenching at Ayaase confirms gold mineralization in anomalies,
encountering up to 1.8 g/t gold over 13 metres (including 10.20 g/t gold
over 2.0 metres) (cut to 20 g/t) and, 500 metres southwest, 1.47 g/t
gold over 12 metres;
-- Trenching at Government Area encounters 1.03 g/t gold over 21 metres,
600 metres on strike from gold mineralization previously intersected by
drilling at NT1;
-- Energold Drilling Corp. engaged to complete up to 20,000 metres of
diamond drilling between Obuasi and Manfo, commencing at Obuasi during
first quarter of 2011.
To view a plan view of geochemical and trenching results from the Obuasi Property, see: http://media3.marketwire.com/docs/Pelangio_image2.pdf.
"2011 promises to be a transformative year for Pelangio," stated Ingrid Hibbard, President and Chief Executive Officer. "We have only scratched the surface of our four near-surface discoveries on the Manfo Property, all of which remain open at depth and along strike. These discoveries demand significant further drilling, and we expect that extensive ongoing surface work will yield other targets for discovery on the property."
Ms. Hibbard continued, "On the Obuasi Property, we have discovered surface showings at Ayaase and Bura that offer the most compelling drill targets that we have yet seen on the property. We will also be advancing several areas drilled during previous programs at Obuasi. Between Manfo and Obuasi, we plan to be drilling throughout the year on two world-class exploration prospects totaling nearly 400 square kilometres on Ghana's premier gold belts."
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Manfo Property Outlook
Since optioning the Manfo Property in August 2010, Pelangio has drilled 29 holes on four targets and has made four near-surface discoveries. Significant previously reported assay results include:
----------------------------------------------------------------------------
From To Interval Au Hole Length
Area DHID (metre) (metre) (metres)(1) (g/t) (metres)
----------------------------------------------------------------------------
Nfante West SFDD-079 16 77 61 1.50 (2) 141.1
----------------------------------------------------------------------------
including 26 44 18 3.00
----------------------------------------------------------------------------
SFDD-082 12 52 40 0.91 127.0
----------------------------------------------------------------------------
SFDD-096 64 107 43 1.11 141
----------------------------------------------------------------------------
including 94 101 7 2.65
----------------------------------------------------------------------------
SFDD-100 25 48 23 1.05 149
----------------------------------------------------------------------------
including 31 39 8 2.67
----------------------------------------------------------------------------
Pokukrom West SPDD-083 16 44 28 4.18 96
----------------------------------------------------------------------------
including 31 43 12 8.00
----------------------------------------------------------------------------
SPDD-084 27 39 12 8.60 90
----------------------------------------------------------------------------
SPDD-090 14 23 9 36.21 (3) 51.5
----------------------------------------------------------------------------
SPDD-091 140 148 8 2.27 218
----------------------------------------------------------------------------
SPDD-092 11 20 9 8.68 77
----------------------------------------------------------------------------
Pokukrom East SPDD-085 98 131 33 1.64 246
----------------------------------------------------------------------------
including 116 129 13 3.37
----------------------------------------------------------------------------
SPDD-086 2 59 57 0.60 180
----------------------------------------------------------------------------
including 2 20 18 1.11
----------------------------------------------------------------------------
SPDD-088 1 54 53 1.39 (4) 144
----------------------------------------------------------------------------
including 35 40 5 24.7 (5)
----------------------------------------------------------------------------
SPDD-089 56 102 46 1.03 141
----------------------------------------------------------------------------
SPDD-106 2 54 52 1.36 103
----------------------------------------------------------------------------
including 41 54 13 3.47
----------------------------------------------------------------------------
SPDD-107 63 135 72 1.13 222
----------------------------------------------------------------------------
including 83 134 51 1.50
----------------------------------------------------------------------------
including 116 127 11 3.53
----------------------------------------------------------------------------
Nfante East SFDD-094 53 86 33 0.95 198
----------------------------------------------------------------------------
(1) Intervals are core lengths. True widths will be determined with further
drilling.
(2) Weight-averaged results of fire assay and metallic screen analyses.
(3) 19.54 g/t gold if higher grade intervals are cut to 30 g/t.
(4) Higher grade intervals cut to 20 g/t.
(5) 13.24 g/t gold if higher grade intervals are cut to 30 g/t.
The gold mineralization encountered at Manfo to date is similar to that of granitoid-hosted deposits in Ghana, including those at Ahafo (Newmont) and Chirano (Kinross) on the Sefwi greenstone belt. These deposits host multi-million ounce, near-surface, bulk tonnage gold mineralization in a series of pits at grades between 1 g/t and 2.5 g/t, but also host higher grade underground deposits at depth. The bulk tonnage grades and widths that Pelangio has encountered at Manfo to date compare very favourably with these deposits, while certain of the results encountered at Pokukrom West and East also demonstrate potential for high grade gold mineralization similar to underground deposits found at Ahafo and Chirano.
Pelangio's exploration focus on the Manfo Property is to identify near-surface, drill ready targets through geochemical sampling and to test and extend such targets with drilling and geophysical surveying. The Company's aim during 2011 is to discover and delineate as many gold mineralized zones on the Manfo Property as possible.
Obuasi Property Outlook
The Obuasi Property is located immediately adjacent to and on strike with AngloGold Ashanti's Obuasi Mine, which has produced over 30 million ounces of gold since 1897 and currently holds a further 29.50 million ounces of gold in reserves and resources (9.65 million ounces of proven and probable reserves grading 7.14 g/t gold in a global resource grading 6.41 g/t comprising 18 million ounces of measured and indicated resources and 11.5 million ounces of inferred resources - refer to AngloGold Ashanti's Mineral Resource and Ore Reserve Report 2009 (the "Obuasi Resource Report")).
Gold mineralization at the Obuasi Mine is shear zone related and hosted in a series of ore shoots. The shoots have approximate strike lengths of 80 to 200 metres, widths of three to 20 metres, plunge lengths of up to 2,500 metres and are being mined at depths of 1,500 metres with further high grade resources being added below current mining infrastructure. The shoots average between three and five million ounces of gold each and have been explored or mined to within a few kilometres of the Obuasi Property's borders (refer to Allibone, A.H. et al. 2002. Structural Controls on Gold Mineralisation at the Ashanti Deposit, Obuasi, Ghana. Society of Economic Geologists, Special Publication 9, p. 65-93).
Pelangio's exploration focus on the Obuasi Property is the extension of the Obuasi Mine trend, with the goal of intersecting previously undiscovered Obuasi-style ore shoots relatively near surface.
Recent exploration efforts have primarily focused on the Ayaase and Bura targets, at each of which a series of contourable 40 ppb, 70ppb and 100 ppb gold anomalies ranging between 100 and 400 metres in strike length have been identified.
At Ayaase, in particular, these anomalies are associated with contourable 100 ppb and 200 ppb arsenic anomalies. The association of significant gold and arsenic anomalies had previously not been encountered on the Obuasi Property and represents an important exploration success, as higher gold grades at the Obuasi Mine tend to be associated with finer grained arsenopyrite crystals (an iron arsenic sulphide) (refer to the "Obuasi Resource Report").
Subsequent trenching at Ayaase and Bura encountered the following significant assay results in bedrock, providing strong evidence that the anomalies are associated with in situ gold mineralization:
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Interval Au
Area TID (metres) (g/t)
--------------------------------------------------------------
Ayaase AY-10-03 13 2.70 (1)
--------------------------------------------------------------
including 2 16.00 (2)
--------------------------------------------------------------
AY-10-01 12 1.47
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Bura BT-TR10-01 4 1.05
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BU-TR-02 33 0.50
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BSE-10-06 4 1.95
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(1) 1.8 g/t gold if higher grade intervals are cut to 20 g/t.
(2) 10.2 g/t gold if higher grade intervals are cut to 20 g/t.
The Company has also recently encountered significant gold mineralization in trench GA-08 at the Government Area, a Tarkwaian-style target on the contact between the Birimian and Tarkwaian, approximately 600 metres from previous drill holes at the NT1 target, which included 1.10 g/t gold over 13.95 metres (PG07NT1-3) and 0.26 g/t gold over 78 metres (PG10-NT1-81). Trench results include:
--------------------------------------------------------------
Interval Au
Area TID (metres) (g/t)
--------------------------------------------------------------
Government Area GA-08 21 1.03
--------------------------------------------------------------
including 1 10.80
--------------------------------------------------------------
and 1 8.20
--------------------------------------------------------------
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The trench and drilling both tested Tarkwaian sediments and are in the same geological setting. Two additional trenches are underway in the area to explore the mineralization further prior to upcoming drill programs.
Proposed Drilling Programs
At Manfo, Pelangio is currently conducting a 5,000+ metre program at the Nfante West and Pokukrom West and East Zones, as well as at targets located outside of these discovery zones, which is expected to be completed during the first quarter of 2011. Drilling at Manfo is being conducted by Burwash Contract Drilling of British Columbia. A next phase program totaling approximately 10,000 metres of diamond drilling is expected to commence early in the third quarter of 2011, which will further define the gold mineralized zones at Nfante West and Pokukrom East and West, as well as following up on the previously reported discovery at Nfante East, strong anomalies identified at Sika North, and other anomalies and targets currently being identified through ongoing surface work.
Pelangio has commissioned E Global Drilling Corp., a subsidiary of Energold Drilling Corp. of British Columbia, to provide 20,000 metres of diamond drilling, which will be divided between the Manfo and Obuasi Properties. The Company is currently planning an initial drill program of approximately 5,000 metres for the Obuasi Property, which will focus on the Ayaase, Bura, Tikal, Mount Kate, Big Vein, NT1 and Government Area targets. The program is expected to commence during the first quarter of 2011. A second program of up to 10,000 metres at Obuasi is expected to commence during the third quarter of 2011.
Addition to Pelangio's Exploration Team
Pelangio is pleased to announce that Francis Duku, B.Sc., M.B.A. has been added to the Company's exploration team on the Manfo Property as Project Geologist, Manfo. Mr. Duku was Chief Geologist and subsequently Project Manager on the nearby Chirano gold deposit for Red Back Mining and its predecessors, where he worked from early exploration, through discovery and feasibility. He has mineral exploration experience in a number of other African countries, including Mali, Burkina Faso, Liberia and the Democratic Republic of Congo (where he worked for Banro Corporation) and production experience at the Tarkwa Mine in Ghana. Mr. Duku holds a B.Sc. (Geological Engineering, Ghana) and an M.B.A. (Ghana) and is a member of the Australian Institute of Mining & Metallurgy.
Mr. Duku joins Pelangio's strong Ghanaian exploration team, which also includes Forson Kari Kari, B.Sc., M.Sc., Project Geologist, Obuasi. Mr. Kari Kari has been working with Pelangio since initial due diligence was conducted on the Obuasi property in 2005 and was promoted to the position of Project Geologist, Obuasi in 2010. He has exploration experience in Ghana and Burkina Faso, as well as production experience in Ghana from the Ahafo and Konongo mines. Mr. Kari Kari holds a B.Sc. (Hons. Geology, Ghana) and a M.Sc. (Mineral Exploration and Evaluation, Netherlands) and is currently a Ph.D. candidate at the University of Vienna, Austria. He is a member of the Ghana Institution of Geoscientists.
Pelangio's exploration team in Ghana is led by Sam Torkornoo, B.Sc., M.B.A., Exploration Manager. Mr. Torkornoo has worked with Pelangio since 2006 and was appointed Exploration Manager in 2010. He has provided consulting services to Perseus Mining (Central Ashanti Gold Project) and Xtra-Gold Resources (Kibi Project). Mr. Torkornoo also conducted early due diligence on the Esaase gold project, now held by Keegan Resources, and was a member of the team that discovered the Abore North gold deposit (now held by PMI Gold). He holds a B.Sc. (Geological Engineering, Ghana) and an M.B.A. (International Resources and Environmental Management, Germany) and is a member of the Australian Institute of Mining & Metallurgy, the Ghana Institute of Geoscientists and the Canadian Institute of Mining, Metallurgy and Petroleum.
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this press release were drilled using HQ (63.5 mm) and NQ (47.6 mm) sized diamond drill bits. Company security is provided at the drill site. Contractors working for Pelangio conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of one metre, then divided into halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Pelangio compound in Tepa, Ghana. The other half was sampled, placed into sealed bags and securely stored at the site until it was shipped to the ALS Chemex laboratory in Kumasi, Ghana. The core was dried and crushed by ALS Chemex and a 150 gram pulp was prepared from the coarse crushed material. ALS Chemex conducted routine gold analysis using a 50 gram charge and fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream at the rate of one per every 20 samples. In addition, ALS Chemex inserted one preparation blank and a certified reference sample in every 20 samples, and ran one duplicate analysis every 20 samples.
In respect of SFDD-079, every sample returning more than 100 ppb gold was subsequently sent for follow-up metallic screening analysis, in which a 1000 gram pulp was analyzed. The screening of samples produced two size fractions - less than 75 micrometres (um) and greater than 75 um. These fractions were then analyzed independently by fire assay and atomic absorption.
All trench and soil samples were collected by contractors working for Pelangio. The trench samples were collected starting at the western end of the trench and working towards the east. The average dimensions of the samples were 4 cm deep by 5 cm wide and 1 metre long with an average weight of roughly two kilograms. The samples were then taken to a secure storage facility at the Pelangio compound in Tepa and subsequently dispatched in sealed bags to ALS Chemex Laboratories in Kumasi, Ghana. The samples were dried and crushed by ALS Chemex and a 150-gram pulp was prepared from the coarse crushed material. Routine gold analysis was conducted by ALS Chemex using a 50-gram charge and fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream at the rate of one per every 25 samples. In addition, ALS Chemex inserted one preparation blank and a certified reference sample in every 20 samples and ran one duplicate analysis every 20 samples.
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In respect of soil samples, roughly two kilograms of sample material was collected at each location and sent to SGS Laboratories in Tarkwa where it was dried, crushed and separated for analysis. Two types of analysis were conducted on the samples: a one-kilogram cyanide leach and a 50-gram fire assay with atomic absorption finish. A certified lab blank was inserted into the sample stream every 25 samples as part of Pelangio's quality control procedure, while SGS completed a duplicate assay every 20 samples.
The exploration programs at the Manfo and Obuasi Properties are overseen by Warren Bates, P. Geo. (Ontario), a Qualified Person within the meaning of National Instrument 43-101. Mr. Bates has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information.
About Pelangio
Pelangio is a junior gold exploration company that acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. Pelangio's 100 square kilometre Manfo Property, which lies on Ghana's Sefwi greenstone belt between the Ahafo and Chirano mines, respectively operated by Newmont and Kinross, is the site of recent near-surface discoveries on four separate targets, including 36.21 g/t gold over 9 metres, 24.7 g/t gold over 5 metres; 1.5 g/t gold over 61 metres and 0.95 g/t gold over 33 metres. The Company is also actively exploring its 290 square kilometre Obuasi Property, located on strike and adjacent to AngloGold Ashanti's Obuasi Mine, which has produced over 30 million ounces of gold since 1897.
For additional information, please visit our website at www.pelangio.com.
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PDX Resources Inc. (TSX: PLG) ("PDX") has been advised by Detour Gold -
TORONTO, ONTARIO -- (Marketwire) -- 10/30/08 --
PDX Resources Inc. -
(TSX: PLG) ("PDX") has been advised by
Detour Gold Corporation -
("Detour Gold") that it has exercised its option for 100%
interest in the Detour Lake property in northern Ontario.
PDX has a 42.4% equity interest in Detour Gold (19 million shares).
Detour Gold issued a press release today, the verbatim text of which follows:
"Detour Gold Exercises its Option for 100% Interest in the Detour Lake Mine Property
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to announce that it has exercised its option on the Detour Lake mine property (the "Mine Option Property") and has acquired ownership of the Mine Option Property from Goldcorp Canada Ltd. ("Goldcorp") pursuant to the previously announced agreement (the "Purchase Agreement") between the Company and Goldcorp described in the Company's April 15, 2008 press release.
Detour Gold is now the sole owner of the Mine Option Property, including all surface rights.
The Detour Lake gold deposit, currently the focus of Detour Gold's feasibility study, is located on the Mine Option Property.
Pursuant to the terms of the Purchase Agreement, the Company has assumed all of Goldcorp's liabilities and obligations relating to the Mine Option Property and certain other exploration properties in the Detour Lake and Massicotte areas of Ontario and Quebec. In connection with the closing of this transaction, the Company has become the proponent under an amended mine closure plan for the Mine Option Property (the "Amended Closure Plan") pursuant to the Mining Act (Ontario) and has posted a letter of credit with the Ontario Ministry of Northern Development and Mines in the amount of Cdn$6.5 million to secure its obligations under the Amended Closure Plan.
As part of this transaction the following permits will be transferred to Detour Gold: Certificate of Approval for Industrial Sewage Works (existing tailing facility), Certificate of Approval for landfill, approval for two aggregate pits and a land use permit for the Mine Option Property access road.
In addition, Detour Gold has granted Goldcorp a 1% royalty on the net smelter returns (the "NSR") derived from the Mine Option Property in accordance with the terms of the Option and Access Agreement dated December 10, 1998. The Company has the right to purchase the NSR from Goldcorp at any time by paying Goldcorp the sum of Cdn$1 million.
For further information, please contact:
Gerald Panneton, Laurie Gaborit, President and CEO Director Investor Relations Tel: (416) 304.0800 Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1"
About PDX Resources Inc.
PDX (formerly named Pelangio Mines Inc.) holds a 42.4% equity interest in Detour Gold Corporation (TSX: DGC),
which controls the Detour Lake advanced gold exploration project.
PDX provides prospective investors with an opportunity
to participate in potential increases in the size of
the resource at the Detour Lake project and the value of
PDX's equity interest in Detour. PDX's shareholders are also uniquely situated to benefit from current moves towards consolidation in the gold industry and increasingly positive sentiment towards investment in gold.
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatim extract of the press release issued by Detour Gold. Although PDX believes the information included in the press release to be generally reliable, the data has not been independently verified and PDX does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Detour Gold's exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in Detour Gold's annual information form, Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR as noted above. See also, the risks set out in Pelangio Mines Inc.'s annual information form, management information circular dated March 19, 2008 and quarterly and annual management's discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information.
All of the information contained in the press release is qualified by this cautionary statement.
Contacts:
PDX Resources Inc.
Ingrid Hibbard
President & CEO
(905) 875-3828 or Toll Free: 1-877-746-1632
(905) 875-3829 (FAX)
PDX Resources Inc.
Warren Bates
Vice President Exploration
(905) 875-3828 or Toll Free: 1-877-746-1632
(905) 875-3829 (FAX)
Email: info@pdxresources.com
Website:
http://www.pdxresources.com
http://ih.advfn.com/p.php?pid=nmona&cb=1225426434&article=29043057&symbol=T^PLG
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