Pelangio Exploration Identifies New Trend and Prepares FOR Drilling at Dankran Project, Ghana
Pelangio Exploration Inc. News Release – February 18, 2021 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO EXPLORATION IDENTIFIES NEW TREND AND PREPARES FOR DRILLING
AT DANKRAN PROJECT, GHANA
TORONTO, Ontario (February 18, 2021) – Pelangio Exploration Inc. (TSX-V:PX; OTC PINK:PGXPF) (“Pelangio” or the
“Company”) is pleased to announce additional significant assay results with values up to 1325 parts per billion
(“ppb”) (1.325 g/t) gold (“Au”) from an infill soil sampling program completed on its Dankran Project in Ghana during
January 2021. The latest results further define the gold-in-soil anomalies at the northern end of the property, now
sufficiently delineated for drill testing. The program also added to the anomalies in the south west which will be
refined with further infill soil sampling. Additionally, prospecting identified a significant trend of artisanal hard-rock
workings extending from the historic Obuom Mine into the Dankran property. Exploration of this trend is prioritized
for the upcoming 2,500 meter (“m”) drill program. Preparations for drilling are under way.
Highlights of the Dankran Infill Soil Sampling and Prospecting Programs
• Infill soil sampling refined previously identified gold anomalism in the northern end of the property
• Additional gold-in-soil anomalism identified in the broader spaced sampling to the southwest to be
followed up with further infill soil sampling
• Prospecting identified a series of historic and recent artisanal hard rock workings extending from the
historic Obuom Mine into the northern end of the property
• Soil sampling, mapping and prospecting programs are being extended to the east to cover this trend of
workings and generate additional targets for the upcoming drill program
Ingrid Hibbard, President and CEO commented, “We are pleased that our Dankran property, which we just acquired
in November, continues to provide significant assay results from the soil program, including 1.325 g/t gold. As well,
these results provided targets for our initial drill program of 2500m to begin shortly. The program of prospecting,
mapping and soil sampling is ongoing to develop additional targets to the east and southwest, focused initially on
the newly identified eastern trend. We anticipate the next phase of work to consist of significant reverse circulation
and diamond drilling to follow up on the results of the current program and test newly developed targets.”
Details of the Dankran Exploration Programs
The Dankran property is a 34.65 square kilometer (“km²”) Prospecting License optioned by Pelangio Exploration from
BNT Resources Ghana Ltd. in November 2020 and is contiguous to the northeastern corner of Pelangio’s Obuasi
project. The Dankran property is adjacent to and on strike with the historic Obuom Mine which produced 29,000
ounces of gold (“Au”) at an average grade of 16 g/t Au from underground workings in the 1930’s. The property covers
nearly seven km of strike of highly prospective geology and regional structures along the western flank of the Ashanti
Belt, 20 km to the northeast of AngloGold Ashanti’s tier one Obuasi Mine.
In December 2020, an initial soil sampling program was completed on the Dankran property consisting of 1,126
samples. This program delivered 10 significant gold-in-soil anomalies as reported by Pelangio Exploration on January
28, 2021.
In order to better define these soil anomalies for drill testing, a program of infill sampling was conducted in January
2021, with 467 soil samples collected at 80m spacing in the north to 160m spacing to the southwest. Assays have
Pelangio Exploration Inc. News Release – February 18, 2021 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
been received for all but 26 samples, with additional highly anomalous values reported up to 1,325 ppb Au. Refer to
Figure 1.
Further infill soil sampling is planned to refine the anomalies in the southwest, while the northern anomalies are
now drill ready. A Reverse Circulation (“RC”) drill program is being mobilized to evaluate several of the stronger
anomalies which extend for up to 1,250m from the Obuom Small Scale Mining Permit boundary southwest into the
Dankran Property. Refer to Figure 2.
During the January infill soil sampling program, a concurrent mapping and prospecting program was undertaken to
locate sites of small-scale artisanal hard rock mining activity extending from the historic Obuom Mine into the
northern end of the Dankran property. A series of small, historic and current mining sites were identified on the
Obuom Small Scale Mining Permit area striking south-southwest into Dankran, consisting of hand-dug vertical shafts
accessing quartz vein material at depth. Assays from limited grab sampling at these mining sites have not yet been
returned, and geological exposures and mapping conducted to date are insufficient to determine the widths of
potential mineralization. This trend of artisanal mining activity lies along the very eastern limit of the current soil
sampling. In light of this new information, our soil sampling program has been extended east to cover the strike
extension of artisanal mine workings to refine this target area, for drill testing in the 2,500 m program.
Future work at Dankran will consist of further RC and diamond drilling programs to follow up results from the
upcoming maiden RC drilling program at the northern end of the property, as warranted by results. Efforts will also
be ongoing to develop additional targets for drill testing elsewhere on the Dankran property, particularly the strong
areas of anomalism emerging from work to date in the southwestern part of the property. Geophysical surveys are
not currently planned, however at some stage either or both aerial and ground geophysics may be necessary to aid
the exploration for mineralization that is not so evident in the soil geochemistry. However, soil geochemistry,
mapping and prospecting efforts to date have been highly successful in identifying a number of compelling targets
for ongoing drill testing.
Methodology, Quality Assurance/Quality Control
Samples were collected from 0.50 to 0.75m deep hand-dug pits at 80m intervals along lines spaced 80 to 320m apart.
Predetermined sample positions were located by a hand-held GPS with a horizontal accuracy of approximately 5m.
A sample was obtained at each designated sample site regardless of the regolith material present. Predominantly
residual soils were sampled, but where covered, alluvium and artisanal mining disturbed material was also
occasionally sampled. Samples weighing approximately 2 to 3 kg each were submitted to the Intertek Minerals
Limited laboratory in Tarkwa, Ghana, and were dried and pulverized with > 85% of the sample passing 75 ⴗm or
better. A 1 kg subsample was riffle split from the processed sample and analyzed for gold by way of a 12-hour cyanide
leach bottle roll using Leachwell™ with an AAS finish and a lower detection limit of 0.01 ppm Au. Where repeat
assays were performed on samples by the laboratory, the mean of the two assays was used for plotting the results.
QA/QC samples were inserted into the sample stream at a rate of one in ten samples. The QA/QC results were within
acceptable limits. The laboratory also performed their own internal QA/QC checks, which were found to be
acceptable.
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr.
Thomson approved the technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores world-class land packages on strategic gold belts in 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 four km on strike and adjacent
to AngloGold Ashanti’s prolific high-grade Obuasi Mine, as well as its 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 mete rs from the Dome Mine in Timmins and is
advancing its Hailstone property in Saskatchewan. See www.pelangio.com for further detail.
Pelangio Exploration Inc. News Release – February 18, 2021 3
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
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]
Figure 1: Dankran Soil Sampling Results To-date
Pelangio Exploration Inc. News Release – February 18, 2021 4
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
Figure 2: Contoured Soil Sampling Results for Northern Dankran
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”,
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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
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
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cautionary statement.
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