Drilling Underway at Pelangio's Dankran Property, Ghana

TORONTO, Ontario (May 18, 2021) – Pelangio Exploration Inc. (TSX-V:PX; OTC PINK:PGXPF) (“Pelangio” or the “Company”) is pleased to announce that a Reverse Circulation (“RC”) drilling program is underway on its Dankran Project in Ghana. Two hundred twenty-five (225) meters have been drilled with three holes completed so far. This RC drilling program will serve as a first pass test of multiple targets identified over the past several months, with a focus on the most prospective soil anomalies at the northern end of the Dankran Project.

 

Highlights of the Dankran Target Development and RC Drilling Program:

 

 

Ingrid Hibbard, President and CEO commented, “We are delighted to have commenced our first drill test of targets on our Dankran Project in the highly prolific Ashanti Belt of southern Ghana. Our work at Dankran has advanced quickly from acquisition in November of 2020 with soil sampling and prospecting programs during December 2020 through March of 2021, identifying a number of compelling targets which will see initial testing in this RC drilling program. The current drill program will focus on the most prospective targets at the northern end of the property, while ongoing soil sampling and prospecting continue to develop targets elsewhere on the property. We look forward to the outcome of the current program and the development of additional targets for testing at Dankran.”

 

Details of the Dankran Exploration Project

 

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, which hosts AngloGold Ashanti’s giant Obuasi Mine 20 km to the southwest. Refer to Figure 1.

 

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, programs of infill and extensional soil sampling were conducted during January through March 2021 with an additional 843 soil samples collected. Four strike extensive trends of gold in soil anomalism have now been identified at Dankran. The recent programs focused on the northern end of the Dankran property, closest to the historic Obuom Mine, where gold in soil anomalism is strongest, with multiple soil samples returning greater than 1 g/t Au. The current drilling program will focus on testing this area. The southwestern extensions of the soil anomalism are presently undergoing further infill soil sampling and prospecting and are expected to generate additional targets for testing in subsequent drilling programs.

 

While conducting the follow up soil sampling programs over the past several months, mapping and prospecting efforts have traced the possible extension of the Obuom Mine structure to the northern edge of the Dankran Property through the identification of a series of active artisanal underground workings on the Small-Scale Mining Permit Area immediately to the north of Dankran. The interpreted extension of this trend into the Dankran Property appears to define the eastern margin of soil anomalism on the northern end of Dankran, with considerable gold in soil anomalism flanking the structure to the west, and weak soil values returned from an extension of the soil sampling coverage to the east of the interpreted Obuom structure. Refer to Figure 2.

 

Current Drilling Program

 

The current exploration drilling program will consist of 2,700 meters of RC drilling on six fences of drill holes, each hole being 80 meters long and inclined towards the southeast, to test the most prospective gold in soil anomalies at the northern end of the Dankran Property. Drilling will also test the interpreted strike extension of the Obuom structure into the Dankran property. The drill program is expected to run for three to four weeks. Favourable results from the current program will be followed up in subsequent drilling programs, which will also test targets developed along the southwestern extensions of the soil anomalous trends currently undergoing continued infill soil sampling and prospecting.

 

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 meters from the Dome Mine in Timmins and is advancing its Hailstone property in Saskatchewan.

 

Figure 1:  Dankran Project Location and Area of Drilling

 

Figure 2:  Dankran Soil Au Geochemistry and Planned RC Drilling