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    PX   CA7056465031

PELANGIO EXPLORATION INC.

(PX)
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Pelangio Exploration Inc. Provides an Update on Recent Exploration Activities on Its Projects in Ghana and Canada

10/13/2021 | 06:49pm EST

Pelangio Exploration Inc. provide an update on recent exploration activities on its projects in Ghana and Canada. A diamond drilling program commenced on the Manfo Project designed to test for extensions to the known mineralization in the Pokukrom East and Pokukrom West deposits. Pokukrom East and West contain the majority of the gold resource at Manfo, estimated to be 195,000 oz (at 1.52 g/t Au) Indicated and 298,000 oz (at 0.96 g/t Au) Inferred by SRK in June of 2013. Refer to the Mineral Resource Evaluation Technical Report, Manfo Gold Project, Ghana, authored by SRK and released by Pelangio on June 21, 2013. A 3,700-meter diamond drilling program has been engineered to test for down-dip and down-plunge extensions to the mineralization in these two deposits in addition to evaluating exploration targets in the immediate vicinity. The drilling program commenced in September with two holes in progress on the smaller, higher-grade Pokukrom West deposit, where historic drilling by Pelangio returned a number of high-grade intercepts including 32.90 g/t Au over 10 meters (hole SPDD-090), 8.60 g/t Au over 12 meters (hole SPDD-084) and 4.49 g/t Au over 26 meters including 8.08 g/t Au over 12 meters (hole SPDD-083), with all Au intercepts reported "un-cut". The first hole at Pokukrom West was completed to a final depth of 151.5 meters and was designed to provide an improved structural understanding of the mineralization from oriented drill core with the hole drilled in the midst of previous high-grade drill holes. Assays are pending. The second hole is in progress, planned for 230 meters depth, and is designed to test for the down-plunge continuation of the high-grade mineralization at Pokukrom West approximately 175 meters down-plunge (to the north) of previous drilling.


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Financials
Sales 2020 - - -
Net income 2020 -1,81 M -1,41 M -1,41 M
Net cash 2020 2,43 M 1,90 M 1,90 M
P/E ratio 2020 -3,75x
Yield 2020 -
Capitalization 8,26 M 6,46 M 6,45 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 5
Free-Float 93,9%
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Managers and Directors
Ingrid Jo-Ann Hibbard President, CEO & Non-Independent Director
Paul Rokeby Chief Financial Officer & Treasurer
David Vaughn Mosher Independent Director
Jean-Claude R. St. Amour Independent Director
Kevin Peter Thomson Director & SVP-Exploration
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