Pelangio Commences Diamond Drill Program at Hailstone, Saskatchewan
Pelangio Exploration Inc. News Release – March 8, 2021 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO COMMENCES DIAMOND DRILL PROGRAM AT HAILSTONE, SASKATCHEWAN
TORONTO, Ontario (March 8, 2021) – Pelangio Exploration Inc. (TSX-V:PX; OTC PINK:PGXPF) (“Pelangio” or
the “Company”) is pleased to announce that it has commenced the initial diamond drill program on its 75
square kilometer (“km2”) Hailstone gold project in the La Ronge Gold Belt, Saskatchewan.
Highlights of the Hailstone Gold Project (See Figure 1)
• Initial diamond drill program commenced at the Hailstone gold project
• Drill program focussed on the Asbell Bay target area, which represents a small portion (3%) of
the entire 75 km2 property
• Eight high priority drill targets to test 1 km of the 1.8 km Asbell Bay trend
• Bornite zone occurrence (bedrock grab samples assayed up to 15.9 g/t gold) to be tested
• Crocodile Zone occurrence (rock grab samples returned values up to 1.65 g/t Au) to be tested
• Project located proximal to several former gold producers and deposits in geol ogical
environments similar to the Hailstone project.
Pelangio’s CEO Ingrid Hibbard commented, “Our exploration programs at Hailstone continue to deliver high
priority targets. We’re delighted to have moved the project to a drill ready state within the small portion of the
75 km2 project that we have evaluated to date. The entire La Ronge Gold Belt region is demonstrating great
value as an emerging gold camp which we believe will offer tremendous opportunity for new gold and base
metal discoveries. We look forward to continuing our evaluation and reporting results.”
Hailstone Project Summary and Geological Description
The Hailstone property is surrounded by a number of historical gold mines and occurrences (see Figure 1) in
geological environments similar to that at Hailstone. The property is located within the Central Metavolcanic
Belt of the La Ronge Domain of north -central Saskatchewan, which represents a portion of the
Paleoproterozoic Trans-Hudson Orogeny. The property comprises a southwest -northeast trending
metavolcanic succession intruded by multi-phase intrusive rocks of the Berven Lake Pluton. Gold and copper
(“Cu”) mineralization on the property is hosted within quartz veins and quartz-rich pegmatite dikes associated
with southwest-northeast trending shear zones subsidiary to the terrane-bounding McLennan Lake Tectonic
Zone.
The Asbell Bay target area (see Figures 1 & 2) is characterized by variably strained monzonite that locally hosts
meter-scale pegmatite intrusions and associated quartz veins that contain significant grades of gold and
copper. Grab samples collected by Pelangio during 2019 highlighted significant grades of 15.9 g/t Au and 2.68%
Cu in and around the Bornite Zone in the northern portion of the Asbell Bay area. Limited prospecting in late
2020 over the North Copper Zone, 225m northeast of the Bornite Zone, returned 0.79 g/t Au and 2.14% Cu.
The recent addition of the North Copper Zone to the other six surface showings in the Asbell Bay area resulted
in the extension of total prospective strike length of the Asbell Bay trend to 1,800m (see Figure 2).
Pelangio Exploration Inc. News Release – March 8, 2021 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
Note, the reader is cautioned that selected grab samples are not necessarily representative of mineralization
on the property.
Summary of Exploration at Hailstone
In 2020, Pelangio initiated a target development program at the Hailstone property to follow up on a number
of prospective gold occurrences, outlined in 2019 by prospecting efforts in the northeastern portion of the
property. The Company completed 95.66 line km of airborne magnetic surveying at a line spacing of 30 meters
in order to provide detailed geophysical information over known zones of mineralization. This work outlined
several linear magnetic features parallel to the McLennan Lake Tectonic Zone and a broad magnetic low, all
spatially associated with outcropping gold occurrences. (see Figure 2)
During the summer and fall of 2020, two programs of till sampling (84 samples in total) were completed and
were subject to gold grain analysis by Overburden Drilling Management. A total of 55 samples or 65% of
samples collected returned gold grain counts above 20. These results are considered anomalous when
compared to a deposit case study in the Star Lake region (Sopuck et al, 1983) located approximately 20 km to
the northeast of the property. A total of seven samples or 8.3% of the samples collected contained highly
anomalous gold grain counts with a range of 120 to 270 gold grains in the individual samples. The till sample
work also demonstrated significant anomalous responses relative to the known zones of mineralization in
outcrop at the Bornite and Crocodile Zones. (see Figure 2)
The Induced Polarization Resistivity (“IP”) survey was undertaken early in 2021 which focused on the Asbell
Bay Trend. This IP surveying was completed over the most prospective areas of the 1.8 km trend and covered
magnetic anomalies, known gold occurrences and/or highly anomalous gold till anomalies outlined in
Pelangio’s earlier prospecting and till sampling surveys. A final review of the IP data outlined twelve targets of
interest, eight of which are considered high priority drill targets due to various features including the strength
of the IP response, coincident magnetic anomalies, and/or their association with known surface gold
occurrences and anomalous gold till samples. (see Figure 2)
A 900 meter diamond drill program is underway to test the eight high priority targets over a 1 km portion of
the 1.8 km Asbell Bay trend. These priority targets include the Bornite Zone occurrence highlighted by a strong
IP response and bedrock grab samples which assayed up to 15.9 g/t gold (see Figure 2). In the southern portion
of the trend, two drill holes will be completed proximal to the Crocodile Zone occurrence which returned values
up to 1.65 g/t gold from rock samples. IP responses proximal to the Crocodile Zone showed a strong resistivity
response and moderate chargeability response.
A second phase of drilling on the Asbell Bay Area will be contingent on results from the first phase of drilling.
The Company is reviewing further exploration and target development programs to continue evaluating this
highly prospective, under-explored property.
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr.
Filo approved the technical data disclosed in this release.
Pelangio Exploration Inc. News Release – March 8, 2021 3
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
Figure 1: Location of Asbell Bay target area within the Hailstone property
Figure 2: Asbell Bay Compilation Map showing Magnetics, Till Anomalies, Gold Occurences and Proposed Drill
Collar Locations
Pelangio Exploration Inc. News Release – March 8, 2021 4
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
About Pelangio
Pelangio acquires and explores world-class gold belt land packages Ghana, West Africa and Canada. In Ghana,
the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of
seven 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, as well as the newly optioned Dankran property located
adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario on its Grenfell property,
located 10 km from Kirkland Lake, at its Dome West property, situated some 800 meters from the Dome Mine
in Timmins and is advancing its Hailstone property in Saskatchewan. See www.pelangio.com for further detail
on all Pelangio’s properties.
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: [email protected]
Forward Looking Statements
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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 strategy of acquiring large land packages in areas of sizeable gold
mineralization, and the Company’s ability to complete the planned exploration programs. 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, and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold
exploration, including the risk that favourable exploration results may not be obtained, delays due to COVID-19 safety protocols,
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
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prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or
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cautionary statement.
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