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Pelangio Exploration options Birch Lake to Jubilee Minerals - $2,000,000 In exploration

Sep 14, 2020

Pelangio Exploration Inc. has entered into an Option Agreement  with Jubilee Minerals Inc. on its Birch Lake Property located approximately 110 km northeast of the town of Red Lake.

Ingrid Hibbard, President and CEO of Pelangio commented, “We are excited to have Jubilee Minerals Inc. agree to spend $2,000,000 in exploration expenditures as part of the earn-in requirements on our Birch Lake Property while we retain a 100% interest on our adjoining Birch Lake West Property. The Birch Lake Property is an extremely prospective and under-explored gold property within the Red Lake Mining District which hosts multiple historical high-grade drill intercepts and numerous surface gold occurrences in both shear zones and banded iron formation. Drilling results from Hole TWD-096, the best hole to date on the property, returned 34.54 g/t gold over 9.85 meters from work completed by previous operators at High Grade Island. This exceptional hole demonstrates the high-grade potential of this project.”

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