Pelangio Exploration Inc. announced that a 1,000 meter diamond drilling program will commence on its Manfo Project in Ghana in March 2023. The drilling program follows the drilling conducted at Pokukrom West in late 2021, and is the latest phase in a larger planned diamond drilling program of 3,700+ meters designed to test for extensions to the Manfo gold resource mineralized zones in the Pokukrom East and West deposits. It is anticipated the program will take approximately 4 to 5 weeks to complete with assays available in a month or so after completion of the drilling, core logging and sampling. Highlights: Follow up drilling on the successful 1st phase program which discovered a new lode of mineralization at Pokokrum West: returning 3.19 g/t Au over 12 meters (true thickness approximately 8 meters) including 6.85 g/t Au over 3 meters, open ended further down-
plunge, down-dip and along strike to the north; Program to test for extensions of the two adjacent Pokukrom deposits (Pokukrom West and Pokukrom East) that contain the bulk of the resource at Manfo; Test a prominent Au in soil anomaly confirmed by auger drilling, located on the western flank of the larger Pokukrom East deposit, sitting between the Pokukrom West and East deposits and Test a mineralized zone within the hanging-wall of Pokukrom East that is open down-dip towards the Pokukrom West deposit. Manfo Project: The Manfo Project, located in the Sefwi-Bibiani greenstone belt of Southwestern Ghana and 17 kilometers from Newmont's Ahafo Mine contains a current National 43-101 compliant gold resource estimated by SRK in 2013 to be 195,000 oz (at 1.52 g/t Au) Indicated and 298,000 oz (at 0.96 g/t Au) Inferred, using a gold price of USD 1,450 per ounce. Refer to the "Mineral Resource Evaluation Technical Report, Manfo Gold Project, Ghana", authored by SRK and released by Pelangio on June 21, 2013. The bulk of the mineral resource is contained in the two adjacent Pokukrom deposits, which both remain open down-plunge and are locally open-ended down-dip and to a lesser degree along strike. A 3,700-meter diamond drilling program was designed in 2021 to test for continuations to the mineralized zones in the Pokukrom deposits with the program commenced in late 2021 with two holes drilled at the smaller, but higher-grade Pokukrom West deposit. The first hole, DD21-001 was drilled in the middle of historic drill holes to provide information on the structural controls of the high grade mineralization at Pokukrom West by way of core orientation and detailed structural logging. Drill hole DD21-001 returned an intercept of 3.81 g/t Au over 15 meters (true-thickness approximately 10.5 meters) including 5.65 g/t Au over 7 meters, better than most of the surrounding historical drill hole intercepts. The second hole, DD21-002, was designed to test down-plunge of the known Pokukrom West mineralized lode, which appeared to be limited in extent by surrounding weak drill intercepts apparently cutting off a potential down-dip and down-plunge continuation of the mineralization. Hole DD21-002 effectively discovered a new lode of gold mineralization approximately 175 meters down-plunge of the known Pokukrom West lode, returning 3.19 g/t Au over 12 meters (true thicknes approximately 8 meters) including 6.85 g/t Au over 3 meters, open ended further down-plunge, down-dip and along strike to the north. The current planned phase of 1,000 meters of diamond drilling will resume drill testing at Pokukrom West with several shallow drill holes to test for extensions to the high grade oxide mineralization which remains open along strike to the southwest, plus test for up-dip extensions to the mineralization encountered in step-out hole DD21-002. This will be followed by 2 to 3 drill holes to test a prominent Au in soil anomaly confirmed by auger drilling, which is located on the western flank of the larger Pokukrom East deposit, sitting between the Pokukrom West and East deposits. This gap between the deposits has not previously been tested by drilling. One of these holes will also extend to depth to test a mineralized zone that sits in the hanging-wall of Pokukrom East that is open down-dip towards the Pokukrom West deposit. Drilling is expected to commence before the end of March 2023 and should take 4 to 5 weeks to complete with another month to complete core logging, sampling and the receipt of all assays shortly thereafter depending on turn-around times at the assay laboratory in Ghana.