Pelangio Receives Final Results of Grenfell Program and Prepares Drill Program to Follow up ON Recent High-Grade Zone Intercepts
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – March 9, 2020
82 Richmond Street East,
Toronto, ON M5C 1P1
Tel: 905-336-3828
Fax: 905-336-3899
NEWS RELEASE
PELANGIO RECEIVES FINAL RESULTS OF GRENFELL PROGRAM AND PREPARES DRILL
PROGRAM TO FOLLOW UP ON RECENT HIGH-GRADE ZONE INTERCEPTS
TORONTO, Ontario (March 9, 2020) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) has received assay results from holes JS2001 to JS2003, the final three holes of its
eight-hole drill program completed on its Grenfell Property, located 10 kilometers from Kirkland Lake’s
Macassa Mine, Ontario. (See Map 1)
Ingrid Hibbard, President and CEO of Pelangio commented; “We are pleased with our initial results which
returned 314 g/t Au over 1.74 meters (uncut) in hole JS2005 as well as broad zones of near surface
mineralization which returned 2.5 g/t Au over 26 meters in hole JS2004, although only sporadic gold
intercepts were noted in holes JS2001 to JS2003. Further follow up of this very prospective zone, at depth
and along strike, will be undertaken in the near future.”
Discussion of Recent Drill Program
The Grenfell property is comprised of 38 mining cells and 8 leased claims covering an area of
approximately 6.7 square kilometers and is located 10 kilometers northwest of the Town of Kirkland Lake
Ontario.
The recent drill program consisted of eight holes which evaluated two separate targets; the No.1/No.6
Vein/Structure in the vicinity of the historical shaft and the SW Zone. Six drill holes, JS2001 to JS2006 were
drilled in the vicinity of the historical surface workings and shaft and two holes on the SW Zone (see Maps
2 and 3). Hole JS2001 to JS2003 and JS2004 to JS2006 were drilled as fans from two separate drill pads to
test two transverse striking veins / structures designated in historical reports as the No.6 and No.1 Veins.
(see Map 2 and 3)
Initial results to date on the No.6 Vein/Structure in holes JS2004 to JS2005 have confirmed the presence
of broad near surface gold bearing zones associated with shorter intercepts of high-grade gold
mineralization. Holes JS2001 to JS2003 intersected narrow sporadic intercepts of gold mineralization to
the northwest of the JS2004 to JS2006 drill section. (see tables below)
Gold mineralization to date is associated with the hanging wall of a fault and diorite intrusive unit within
the fault or proximal to it. The diorite intrusive is thought to represent the centre o f the No.6
Vein/Structure referred to in historical reports.
At this time, the extent and shape of the gold bearing zone at depth and along strike is not well understood
as a result of very limited and shallow drilling. Further drilling is required to determine the extent of
mineralization along strike and at depth. Particular attention will be paid to the potential in the southeast
where a single surface hole in 2013 on the No. 6 Vein/Structure returned a high-grade intercept of 19.5
g/t gold over one meter in association with a broad strongly anomalous zone over 10 meters. (Reference:
SGX Drill Report by J.K.Filo, 2013)
Pelangio Exploration Inc. News Release – March 9, 2020
As reported previously, no significant mineralization was intersected in holes JS2007 and JS2008 which
were drilled to further evaluate a historical intercept on the SW zone (see Map 3).
All pertinent drill hole location data and significant assay data from the holes to date are presented in the
accompanying Tables A and B.
TABLE A: DRILL HOLE LOCATION DATA
HOLE NO. EASTING NORTHING AZIMUTH DIP (Degrees) LENGTH (m)
JS2001 560297 5336213 200 degrees -45 60.00
JS2002 560297 5336213 200 degrees -60 81.00
JS2003 560297 5336213 200 degrees -70 101.75
JS2004 560318 5336214 198 degrees -47 60.00
JS2005 560318 5336214 198 degrees -60 125.50
JS2006 560318 5336214 198 degrees -70 53.50
JS2007 559992 5336066 135 degrees -45 90.00
JS2008 559992 5336066 135 degrees -55 113.85
TABLE B: SIGNIFICANT ASSAY INTERCEPTS
HOLE NO. FROM TO METERS G/T Au G/T AU (CUT) G/T Au (UNCUT)
JS2001 31.50 34.00 2.50 0.937
includes 33.00 34.00 1.00 1.60
JS2001 54.50 55.00 0.50 2.45
58.50 59.50 1.00 1.05
JS2002 53.00 54.00 1.00 1.03
56.00 56.85 0.85 1.56
63.00 64.50 1.50 1.82
JS2003 57.00 58.50 1.50 1.06
**JS2004 14.00 15.00 1.00 3.73
**JS2004 19.00 45.00 26.00 2.50
includes 26.00 45.00 19.00 3.18
29.00 45.00 16.00 3.23
37.50 45.00 7.50 4.81
37.50 40.50 3.00 9.39
**JS2005 33.00 59.00 26.00 1.32
33.00 59.00 26.00 21.80
Includes 36.26 38.00 1.74 7.95
36.26 38.00 1.74 314.00
includes 36.26 36.56 0.30 1810.00
**JS006 36.00 37.50 1.50 1.09
45.83 46.15 0.32 26.50
**JS007 NSV
**JS008 NSV
Pelangio Exploration Inc. News Release – March 9, 2020
Notes:
i)**Denotes intervals reported in previous press release March 1, 2020.
ii) Intervals shown as cut with high-grade assays over 34.28571 g/t Au were cut to 34.28571
g/t Au.
iii) All intervals shown in the accompanying tables are core lengths as the estimated true
width of the zone cannot be determined at this time.
Future Plans for Grenfell
Further drilling will be conducted on the No.6 Vein/Structure to further evaluate the broad zones of
mineralization and high-grade intercepts at depth and along strike to better define the extent of this zone.
The Company will also consider some drilling to evaluate a similar parallel gold bearing northwesterly
trending historical structure know as the Shea Vein approximately 200 meters southwest of the No 6
Vein/Structure. (Map 4) Further drilling is being considered for the No.1 vein as well above and below the
250-foot level workings which returned 0.2 oz/ton gold across a width of 3 feet for a strike length of 180
feet in a development drive on the 250 level (J. Londry, P.Eng., “Report on the John Sirola Property,
Grenfell Township, 1985”)(see Map 4).
In addition, significant geophysical anomalies, some with coincident geochemical anomalies, remain to be
tested.
Map 1. Grenfell Project Location and General Geology
.
Pelangio Exploration Inc. News Release – March 9, 2020
Map 2 – Shaft Area
Map 3 – Grenfell Project Surface Plan
Pelangio Exploration Inc. News Release – March 9, 2020
Map 4 – Grenfell Project 250 Level Plan
Quality Assurance/Quality Control
All core logging and sampling were conducted in a secure core logging facility in Timmins Ontario. Core
logging and sampling of NQ diamond drill core was carried out by J.K. Filo P.Geo. Core logging and
sampling adhered to 43-101 protocols and industry standard best practices. Each drill hole was sampled
entirely and sample lengths varied from 0.26 meters to 1.5 meters maximum. Drill core was sawn in half
with a diamond saw, tagged, and placed in securely sealed bags. Samples were transported to Actlabs
facility in Timmins, Ontario by Pelangio personnel. Half of the core was retained for reference purposes.
Gold analysis was completed using a standard fire assay with a 50-gram charge with and atomic absorption
(AA) finish (Actlabs 1A2-50 Procedure). Samples over 5 grams/ton were re-assayed by fire assay with a
gravimetric finish. With each batch of 25 samples, one blank and one Oreas gold standard were submitted
for analysis for QA/QC purposes. QA/QC samples were within acceptable tolerance levels. Full details on
Actlabs analysis procedures and associated sample preparation can be reviewed on their web site.
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101.
Mr. Filo and has reviewed and approved the technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores large land packages in world-class gold belts in Canada and Ghana, West
Africa. In Canada, the company is focusing on the 6.7 km2 Grenfell property located approximately 10 km
from the Macassa Mine in Kirkland Lake, the Dome West property located 800 metres from the Dome
Mine in Timmins, the 25 km2 Birch Lake Property located in the Red Lake Mining District and the Dalton
Pelangio Exploration Inc. News Release – March 9, 2020
Property located 1.5 km from the Hollinger Mine in Timmins. In Ghana, the Company is focusing on two
100% owned camp-sized properties: the 100 km2 Manfo Property, the site of seven recent 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. Ghana is an English speaking, common law jurisdiction that is
consistently ranked amongst the most favourable mining jurisdictions in Africa.
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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Company’s ability to complete the planned work programs, the Company’s strategy of acquiring large land packages
in areas of sizeable gold mineralization, the Company’s plans to follow-up on previous work, and the Company’s
exploration plans. With respect to forward-looking statements and information contained herein, we have made
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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, and other risks
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