Pelangio Completes Hailstone Drill Program

TORONTO, Ontario (April 20, 2021) – Pelangio Exploration Inc. (PX:TSX-V; PGXPF:OTC PINK) (“Pelangio” or the “Company”) is pleased to announce it has completed a 908-meter (“m”) drill program at its Hailstone Property in Northern Saskatchewan. Eight holes were drilled and assays are pending.

 

Highlights of the Drill Program and the Hailstone Property:

 

 

“We are extremely encouraged by the geological observations noted in core logging from our maiden drill program at Hailstone; in particular, the intersection of the down dip extension of the Bornite Zone geology in drill core could indicate a continuation of the surface mineralization to depth,” commented Ingrid Hibbard, President and CEO.

 

Hailstone Property

 

The 75 square kilometer 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 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 drill program was focused on the Asbell Bay target area (see Figures 1 and 2). Eight drill holes (908m of drilling) were completed; these holes targeted known gold occurrences such as the Bornite Zone which returned surface grabs of 15.9 g/t Au and 2.68% Cu as well as several coincident geophysical and gold till anomalies along the 1.8 km long Asbell Bay trend.

 

Each of the eight drill holes intersected zones of interest; these zones included shear zone structures, extensive disseminated pyrite and zones of silicification associated with pyrite. One of the highlights of the program was Hole HS2108; this hole intersected a 1.2 m quartz vein; this vein was interpreted to be the down dip extension of the Bornite Zone surface occurrence.

 

A total of 466 samples have been sent for analysis, results are pending and will be released as soon as they are received. The next phase of work on the Hailstone Property will be determined upon receipt and review of assay results. Note, the reader is cautioned that selected grab samples are not necessarily representative of mineralization on the property.

 

Figure 1: Hailstone Property Location Map

 

 

 

Figure 2: Hailstone Anomaly and Drill Hole Location Map

 

 

Dankran Project Update, Ghana

 

An initial Reverse Circulation exploration drilling program which was expected to commence at Dankran in April, will be delayed  until an alternate drill rig becomes available. The drill rig that was contracted to conduct the 2,600 meter program developed mechanical issues.  We are consulting with local drill contractors to secure an alternate rig  to perform the work.

 

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 the Gowan polymetallic project, 16 km from Kidd Creek; the Grenfell property, located 10 km from Kirkland Lake; the Dome West property, situated some 800 meters from the Dome Mine in Timmins; and the 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: info@pelangio.com