TWO High Priority Base Metal Targets Defined at Pelangio’S Gowan Project, 16 Km East of Kidd Creek MINE
Pelangio Exploration Inc. News Release –October 19, 2021 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905‐336‐3828 Fax: 905‐336‐3899
NEWS RELEASE
TWO HIGH PRIORITY BASE METAL TARGETS DEFINED AT PELANGIO’S GOWAN PROJECT,
16 km EAST OF KIDD CREEK MINE
TORONTO, Ontario (October 19, 2021) – Pelangio Exploration Inc. (TSX‐V:PX; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) is pleased to announce it has completed a follow‐up ground induced polarization (IP) survey
across a large 1.5 by 1 km VTEM anomaly on its Gowan Project. Gowan is located approximately 16 km east of
Glencore’s Kidd Creek Mine and approximately 23 km southeast of t h e C a n a d a N i c k e l d e p o s i t i n T i m m i n s
Ontario. (see Fig.1)
Highlights:
The IP survey defined two high‐priority base metal targets:
o A copper zinc volcanogenic massive sulphide “VMS” target in the northeast of the property;
and
o A nickel copper target in the ultramafics centered on the larger airborne VTEM anomaly.
Ingrid Hibbard, President and CEO stated, “We are exceptionally pleased that the follow‐up ground IP survey
further refined the highly prospective copper zinc VMS target a nd the nickel copper target. The VMS target is
of particular interest due to historical copper intercepts in a geological setting similar Glencore’s Kidd Creek
Mine. We eagerly anticipate our winter drilling program scheduled for early in the new year.”
Discussion of Results (see Fig.2 and 3):
The follow‐up ground IP survey on the Gowan Project outlined two significant IP anomalies. In the northeastern
portion of the property a new and previously undetected VMS IP anomaly was outlined. The second anomaly
confirmed the presence of a nickel copper target coincident wit h a previously identified airborne
electromagnetic (EM) or VTEM target.
VMS Target IP Anomaly
This IP target represents a high priority copper zinc VMS targe t. The anomaly has a southeasterly strike of
approximately 400 m and extends from just below overburden depth to the maximum extent of the ground IP
survey at 325 meters. The strength and width of the IP anomaly or chargeability response improves with depth.
Two historical holes designated Hole 2 and 77‐1 were drilled pa rallel to the outer edge of the anomaly and
intersected some significant base metal mineralization in a felsic volcanic package. Hole 2 returned 10.97
meters of 0.32% copper and 11.99 g/t silver including a higher‐grade intercept grading 3.81 meters at 0.66%
copper and 10.62g/t silver. Hole 77‐1 skimmed the southern extremity of the anomaly (see Fig.3) and returned
an anomalous section grading 0.18% copper and 2.24 g/t silver over 5.79 meters with a higher‐grade section
Pelangio Exploration Inc. News Release – October 19, 2021 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905‐336‐3828 Fax: 905‐336‐3899
assaying 0.45% copper and 4.8 g/t silver over 1.67 meters . (References: Resident Geologist Assessment Files
Timmins Ontario; Drill Reports by Alamo Petroleum and Newmont Canada).
Nickel Copper Target ‐ IP Anomaly Coincident with VTEM
The recently completed IP survey also outlined a broad, moderate, 400 meter wide IP anomaly coincident with
the airborne VTEM anomaly and represents a high priority nickel c o p p e r t a r g e t . T h e I P a n o m a l y s t a r t s a t
approximately 275 meters below surface and extends downwards to the maximum extent of the IP survey at
about 325 meters. Notably, the chargeability response strengthe ns at depth and appears to extend beyond
survey depth limitation.
The IP anomaly was detected across all three survey lines, cut across the airborne EM anomaly, and extends
from east to west for a minimum of 270 meters and is open to th e east and west. Limited proximal historical
drilling on the periphery of the IP anomaly and short of the an omaly depth suggests that the IP anomaly is
hosted in ultramafic rocks (see Fig 3).
A fully funded diamond drill program designed to test both the VMS target and the nickel copper target on the
Gowan Property scheduled for January 2022 when winter condition s allow for cost‐effective access via
established winter trails.
Figure 1: General Location Map
Pelangio Exploration Inc. News Release – October 19, 2021 3
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905‐336‐3828 Fax: 905‐336‐3899
Figure 2: Property Compilation Map Plan
Figure 3: IP Pseudosection Along Line 0
Pelangio Exploration Inc. News Release – October 19, 2021 4
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905‐336‐3828 Fax: 905‐336‐3899
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43‐101. Mr. Filo approved th e
technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores prospective land packages located in world‐class 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 eight
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 at its Dome West property, situated some 800 meters from the Dome
Mine in Timmins; at its Gowan polymetallic project, located 16 km east of the Kidd Creek Mine, and is exploring 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
Certain statements herein may contain forward‐looking statements and forward‐looking information within the meaning of
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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 contai ned herein, we have made numer ous assumptions, including assumptions about the state of
the equity markets. Such forward‐looking statements and informa tion are subject to risks, uncertainties and other factors whic h
may cause the Company’s actual res ults, performance or achievem ents, or industry results, to be materially different from any
future results, performance or a chievements expressed or implie d by such forward‐looking statement or information. Such risks
include the changes in equity markets, share price volatility, volatility of global and local ec onomic climate, gold price vol atility,
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 protoco ls,
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 for ward‐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
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cautionary statement.
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