RSS UpdatesCompany Information for Pelangio Exploration Inc
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 TSX.V; PX
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Company Statement
Pelangio Exploration Inc. (“Pelangio”) is a Canadian junior mineral exploration company, with a focus on gold, active in two of the top-ranked mining jurisdictions in the world, Canada and Ghana.
The Company focuses on the acquisition and exploration of undervalued or early stage exploration prospects located in world-class gold belts, and aims to make discoveries that will significantly increase shareholder value. Pelangio is listed on the TSX Venture Exchange under the symbol PX.
Current Operations
Pelangio’s current primary exploration property is a 290 square kilometre early stage exploration property in Ghana, located on strike and adjacent to AngloGold Ashanti’s Obuasi gold mine (production of over 30 million ounces during the last century). Pelangio defined several prospective gold targets on the property through aerial surveys, surface work and drilling during 2007 and completed 6,965 metres of drilling during 2008, as well as significant surface work and surveying.
The Board and Management of Pelangio Exploration have a long and successful history of exploration and discovery in Ontario through Pelangio Mines, the predecessor of Pelangio Exploration prior to its spin-off in September 2008. Pelangio Mines discovered the Detour Lake deposit, northwest of Cochrane, and subsequently sold it to Detour Gold for a 50% equity interest. The Detour Lake deposit now contains a 13.2 million ounce gold resource (10.8 M oz M+I and 2.4 M oz I) and is one of the largest independently held gold deposits in the world. In January 2009, Pelangio Mines (then PDX Resources) announced an agreement to merge with Detour Gold, which merger closed on March 27, 2009.
Pelangio Exploration’s Board and Management are looking to build on this track record of success in Ontario. In this vein, the Company has acquired promising properties located close to previous significant producers. The Company currently has a 100% interest in four gold projects across northern Ontario and Quebec, and has options to earn 100% interests in its Page Lake gold project (in the Hemlo District) and its Moshkinabi and Fairies Lake copper, nickel and PGM projects (near Manitouwadge).
Surface grab samples on the Moshkinabi and Fairies Lake projects have returned encouraging results, including up to 4 g/t combined platinum and palladium, with 1% copper and 0.2% nickel. In September 2008, the Company reacquired its 100% interest in the Birch Lake property, which had been under option to a third party since 2003. The property comprises 28 contiguous unpatented mining claims on and around High Grade Island, 120 kilometres northwest of Red Lake. Approximately, 2,000 metres were drilled by the optionholder between 2003 and 2008, including significant high grade intercepts of 115.89 g/t over 2.9 metres and 229.96 g/t over 2.45 metres. “We’re pleased to regain control of this project, especially considering the current strong gold market,” commented Warren Bates, Senior Vice President Exploration. “The project has numerous high grade drill intercepts that need to be followed up. We expect to conduct a surface program this summer, and plan to drill in winter 2009-2010.”
Board of Directors and Key Management
| Ingrid Hibbard | President & Chief Executive Officer |
| Paul Rokeby | Chief Financial Officer |
| Warren Bates | Senior Vice President Exploration |
| Brendan Cahill | Corporate Secretary and Counsel |
| Terry-Lynn Conway | Assistant Corporate Secretary |
| Directors | |
| Mr. Peter Crossgrove | Director |
| David Mosher | |
| Carl Nurmi | President, Clarke Philips Supply |
| Philip E. Olson | President & Chief Executive Officer, Titan Uranium Inc. |
| Ian Shaw | Director |
| Arthur (Gord) Slade | Retired |
Company Address440 Harrop Drive, 2nd Floor
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Additional Address/Key ContactInvestor Relations |
CapitalShares Issued - 85.9 M
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Related News
04/11/09 - The Buried Treasure On Pelangio’s Obuasi Gold Property In Ghana Will Soon Start To Yield Up Its Secrets12/05/09 - Ingrid Hibbard Intends To Repeat Pelangio’s Detour Lake Deal In Ghana
15/12/08 - Ingrid Hibbard’s Pelangio Exploration Is Nurturing A Very Useful Relationship With AngloGold Over On The Ashanti Gold Belt
15/07/08 - A Bit Of Family History Helps Pelangio Mines Straddle The World
Most Recent Statement
27/01/10 - Pelangio Exploration Reports The Passing Of Chris Pegg25/01/10 - Pelangio Exploration Reports Initial Drill Results From The Obuasi Property
17/12/09 - Pelangio Exploration Provides Exploration Update On The Obuasi Property
23/11/09 - Pelangio Exploration Acquires Option To Repurchase Royalty On The Poirier Gold Property In West Timmins, Ontario
12/11/09 - Pelangio Exploration Grants Options
30/10/09 - Pelangio Exploration Makes Option Payments On The Obuasi Property