Pelangio Exploration To Commence A 1,000 Meter Diamond Drilling Program At Manfo, Ghana
Pelangio Exploration To Commence A 1,000 Meter Diamond
Drilling Program At Manfo, Ghana
TORONTO, ON / March 2, 2023 / Pelangio Exploration Inc. (TSXV:PX);(OTC
PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that a 1,000 meter
diamond drilling program will commence on its Manfo Project in Ghana in March 2023. The
drilling program follows the drilling conducted at Pokukrom West in late 2021, and is the latest
phase in a larger planned diamond drilling program of 3,700+ meters designed to test for
extensions to the Manfo gold resource mineralized zones in the Pokukrom East and West
deposits. It is anticipated the program will take approximately 4 to 5 weeks to complete with
assays available in a month or so after completion of the drilling, core logging and sampling.
Highlights:
• Follow up drilling on the successful 1st phase program which discovered a new lode of
mineralization at Pokokrum West: returning 3.19 g/t Au over 12 meters (true thickness
approximately 8 meters) including 6.85 g/t Au over 3 meters, open ended further down-
plunge, down-dip and along strike to the north
• Program to test for extensions of the two adjacent Pokukrom deposits (Pokukrom West
and Pokukrom East) that contain the bulk of the resource at Manfo
• Test a prominent Au in soil anomaly confirmed by auger drilling, located on the western
flank of the larger Pokukrom East deposit, sitting between the Pokukrom West and East
deposits
• Test a mineralized zone within the hanging-wall of Pokukrom East that is open down-dip
towards the Pokukrom West deposit.
Ingrid Hibbard, President and CEO commented, "We are very pleased to announce that we are
recommencing a planned diamond drilling program on our Manfo Project. The current phase of
1,000 meters is part of a larger program designed to test for extensions to the mineralization in
the Pokukrom deposits and potential additions to the gold resource at Manfo. With success,
future drilling campaigns will continue to step-out the mineralized zones at Manfo with
subsequent infill drilling to quantify resource additions, if any. We look forward to a return to
work at Manfo and news flow on the results."
Manfo Project
The Manfo Project, located in the Sefwi-Bibiani greenstone belt of Southwestern Ghana and 17
kilometers from Newmont's Ahafo Mine contains a current National 43-101 compliant gold
resource estimated by SRK in 2013 to be 195,000 oz (at 1.52 g/t Au) Indicated and 298,000 oz
(at 0.96 g/t Au) Inferred, using a gold price of US$1,450 per ounce. Refer to the "Mineral
Resource Evaluation Technical Report, Manfo Gold Project, Ghana", authored by SRK and
released by Pelangio on June 21, 2013. The bulk of the mineral resource is contained in the two
adjacent Pokukrom deposits, which both remain open down-plunge and are locally open-ended
down-dip and to a lesser degree along strike.
A 3,700-meter diamond drilling program was designed in 2021 to test for continuations to the
mineralized zones in the Pokukrom deposits with the program commenced in late 2021 with two
holes drilled at the smaller, but higher-grade Pokukrom West deposit. The first hole, DD21-001
was drilled in the middle of historic drill holes to provide information on the structural controls
of the high grade mineralization at Pokukrom West by way of core orientation and detailed
structural logging. Drill hole DD21-001 returned an intercept of 3.81 g/t Au over 15 meters
(true-thickness approximately 10.5 meters) including 5.65 g/t Au over 7 meters, better than
most of the surrounding historical drill hole intercepts. The second hole, DD21-002, was
designed to test down-plunge of the known Pokukrom West mineralized lode, which appeared to
be limited in extent by surrounding weak drill intercepts apparently cutting off a potential down-
dip and down-plunge continuation of the mineralization. Hole DD21-002 effectively discovered
a new lode of gold mineralization approximately 175 meters down-plunge of the known
Pokukrom West lode, returning 3.19 g/t Au over 12 meters (true thickness approximately 8
meters) including 6.85 g/t Au over 3 meters, open ended further down-plunge, down-dip and
along strike to the north. Refer to Figure 1.
The current planned phase of 1,000 meters of diamond drilling will resume drill testing at
Pokukrom West with several shallow drill holes to test for extensions to the high grade oxide
mineralization which remains open along strike to the southwest, plus test for up-dip extensions
to the mineralization encountered in step-out hole DD21-002. This will be followed by 2 to 3
drill holes to test a prominent Au in soil anomaly confirmed by auger drilling, which is located
on the western flank of the larger Pokukrom East deposit, sitting between the Pokukrom West
and East deposits. This gap between the deposits has not previously been tested by drilling. One
of these holes will also extend to depth to test a mineralized zone that sits in the hanging-wall of
Pokukrom East that is open down-dip towards the Pokukrom West deposit.
Drilling is expected to commence before the end of March 2023 and should take 4 to 5 weeks to
complete with another month to complete core logging, sampling and the receipt of all assays
shortly thereafter depending on turn-around times at the assay laboratory in Ghana.
Figure 1. Planned Resource Extensional Drilling at the Pokukrom East and West Deposits;
Plan View
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.
See www.pelangio.com for further detail.
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
Certain statements herein may contain forward-looking statements and forward-looking
information within the meaning of applicable securities laws. Forward-looking statements or
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"plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates",
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"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
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are qualified by this cautionary statement.
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SOURCE: Pelangio Exploration Inc.