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    PX   CA7056465031


Delayed Quote. Delayed Bourse de Toronto - 09/27 04:10:05 pm
0.12 CAD   --.--%
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Pelangio Exploration Inc. Receives the Final Data on the VTEM Plus Electromagnetic Survey over Its Gowan Polymetallic Project

06/14/2021 | 04:05pm EDT

Pelangio Exploration Inc. announced it has received the final data on the VTEM Plus electromagnetic survey over its Gowan polymetallic project located 27 kilometers ("km") northeast of Timmins and 16 km east of Glencore's Kidd Mine. The final data confirmed a broad 1.5 km by 1 km electromagnetic ("EM") response located on the flank of a strong magnetic response, proximal to known copper, zinc, silver volcanogenic massive sulphide ("VMS") occurrences. The 100%-owned, Gowan polymetallic project is a 4.3 km2 property located in Gowan Township, 27 km northeast of the City of Timmins, Ontario and 16 km due east of Glencore's Kidd Mine Site. The property is prospective for both copper-zinc VMS deposits with associated precious metals, and nickel-copper sulphide deposits. The northeastern portion of the Gowan property is underlain by a prospective felsic volcanic package of rocks associated with feldspar porphyritic intrusives. Limited exploration efforts in the early to mid -1970's focused on evaluating the northern portion of the property for a Kidd-style copper-zinc VMS deposit. These early exploration programs were successful in demonstrating the potential for this type of mineralization. The highlight of these early exploration efforts was a broad semi-massive sulphide intercept grading 0.32% Cu and 0.35 oz/ton Ag over 36 feet. A shorter interval within this broad section returned 0.66% Cu and 0.31 oz/ton Ag over 12.5 feet including an interval of 0.95% Cu and 0.20 oz/ton Ag across 3 feet. Also of note is a bedrock sample from the bottom of a reverse circulation ("RC") drill hole which returned 2.26% Cu and 0.11 oz/ton Au. Very limited follow up was conducted on the massive sulphide intercepts and no drill follow up was completed on the copper-gold occurrence detected in the bottom of the RC hole. The southern portion of the property is interpreted to be underlain by ultramafic volcanics from limited drilling and magnetic data. This area of the property is thought to be a prospective for nickel-copper sulphides.

ę S&P Capital IQ 2021
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Sales 2020 - - -
Net income 2020 -1,81 M -1,43 M -1,43 M
Net cash 2020 2,43 M 1,93 M 1,93 M
P/E ratio 2020 -3,75x
Yield 2020 -
Capitalization 9,01 M 7,12 M 7,14 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 5
Free-Float 93,9%
Duration : Period :
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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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