PelangioAdvised of Drill Results From Detour Gold's Drilling Program at DetourLake, Ontario (1.83 g/t Over 64.0 Metres and 1.33 g/t Over 78.9 Metresin Gap Zone)
TORONTO, ONTARIO -- (Marketwire) -- 08/06/08 -- Pelangio Mines Inc.(TSX: PLG) ("Pelangio") has been advised by Detour Gold Corporation("Detour Gold") that it has released drill results of 21 holes from theCalcite and Gap Zones of its Phase II drilling program at the DetourLake property in northern Ontario. Detour Gold started Phase IIdrilling in July 2007 and thus far has completed 351 holes totaling137,702 metres (including 29 holes abandoned for 2,401 metres anddeepening of 9 holes for 1,439 metres). Prior to the mineral resourceupdate of July 2, 2008, the Company had reported 187 holes totaling68,428 metres (including 15 holes abandoned for 1,290 metres). Thereare four (4) active drill rigs on site.
Pelangio has a 44.6% equity interest in Detour Gold (20 millionshares). Detour Gold issued a press release today, the verbatim text ofwhich follows:
"Detour Gold Reports Additional Mineralization West of Calcite Zoneand Wide Gold Intersections in the Gap Zone of its Detour Lake Projectin Northern Ontario (1.83 g/t over 64.0 metres and 1.33 g/t over 78.9metres in Gap Zone)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company")is pleased to report the first drill results since its mineral resourceupdate of July 2, 2008 at the Detour Lake property in northern Ontario.The Company received assays for 21 holes in the Calcite and Gap Zonesfrom its ongoing Phase II drilling program.
The Company started Phase II drilling in July 2007 and thus far hascompleted 351 holes totaling 137,702 metres (including 29 holesabandoned for 2,401 metres and deepening of 9 holes for 1,439 metres).Prior to the mineral resource update, the Company had reported 187holes totaling 68,428 metres (including 15 holes abandoned for 1,290metres). There are four (4) active drill rigs on site.
Results from an additional 11 holes drilled at the western end ofthe Calcite Zone are indicating additional gold mineralization withinthe US$700 pit shell, which will positively impact the final pit design(lower strip ratio) and resource base. Of importance, significant goldmineralization was encountered at the contact between the massive andpillow flows in holes DG-08-321 with 1.21 g/t over 47.0 metres andDG-08-326 with 1.37 g/t (cut) over 32 metres on section 18,020E, and inholes DG-08-313 with 1.43 g/t (cut) over 38.0 metres and DG-08-318 with2.54 g/t (cut) over 19.0 metres on section 18,060E.
Detour Gold received results from 10 holes drilled in the Gap Zone(between sections 18,920E and 19,240E), mostly testing the extent ofthe mineralized corridor to the north (hanging wall). Results continueto show excellent continuity of the gold mineralization within the coreof the corridor, especially along the lower massive and pillow flowcontact.
The best mineralized (uncut) intervals encountered are shown below.
Calcite Zone
--------------------------------------------------------------------------
DG-08-292 DG-08-302 DG-08-313 DG-08-318
--------- --------- --------- ---------
10.12 g/t 9.09 g/t 5.01 g/t 3.44 g/t
over 7.0 m over 22.0 m over 10.0 m over 18.0 m
1.43 g/t 2.81 g/t
over 38.0 m over 19.0 m
DG-08-321
---------
3.94 g/t
over 16.0 m
1.21 g/t
over 47.0 m
Gap Zone
--------------------------------------------------------------------------
DG-08-286 DG-08-308 DG-08-337 DG-08-315
--------- --------- --------- ---------
12.85 g/t 2.06 g/t 1.33 g/t 1.83 g/t
over 8.0 m over 29.5 m over 78.9 m over 64.0 m
16.73 g/t 1.38 g/t
over 9.8 m over 49.0 m
9.89 g/t 3.60 g/t
over 12.0 m over 37.0 m
DG-08-320
---------
1.90 g/t
over 38.0 m
Approximately 7,770 metres remain to be drilled for the PhaseII program which will total nearly 143,000 metres (initially plannedfor 135,000 metres). The Phase III program of 30,000 metres is underwaywith approximately 3,970 metres completed as of the end of July 2008.
On July 2, 2008, Detour Gold reported a mineral resource updatebased on a detailed engineered pit design using a preliminary mineschedule at a mining rate of 30,000 tpd operation for the first fewyears and increasing to 60,000 tpd thereafter. The base case reported(using a gold price of US$700 per ounce) contained 10.8 million ouncesof gold in the measured and indicated categories and 2.4 million ouncesof gold in the inferred category (refer to press release dated July 2,2008).
Complete tables of results, surface and longitudinal plans andcross-sections for the Detour Lake deposit are posted on the Company'swebsite www.detourgold.com /Projects/Detour Lake or https://www.detourgold.com/s/LatestDrillResults.asp or on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager,Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning ofNational Instrument 43-101. Mr. Aubertin has verified and approved thedata disclosed in this release, including the sampling, analytical andtest data underlying the information.
Samples are prepared and assayed at SGS Minerals Services in DonMills, Ontario, Canada. Analysis for gold is done on sawn half coresamples using fire assay (AA finish). Samples with higher grade gold (greater than 5 g/t) are re-assayed using the pulp and metallicsprocedures. Standard reference materials, blank and field duplicatesamples are inserted prior to shipment from site to monitor the qualitycontrol of the assay data. For additional information on QualityAssurance and Quality Control ("QA/QC"), refer to the press releasedated April 11, 2007.
For further information, please contact:
Gerald Panneton, President and CEO
Tel: (416) 304.0800
Laurie Gaborit, Director Investor Relations
Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1
Detour Lake Project - Highlights of Drill Results
--------------------------------------------------------------------------
Hole No. Section From To Length Au Au Host Rock
No. (m) (m) (m) Uncut Cut to Unit
(g/t) 20 g/t
(g/t)
--------------------------------------------------------------------------
DG-08-286 19,040E 16.2 26.0 9.8 1.76 1.76
--------------------------------------------------------------
(Gap Zone) 70.0 77.0 7.0 1.04 1.04
--------------------------------------------------------------
341.0 348.0 7.0 1.27 1.27
--------------------------------------------------------------
398.0 406.0 8.0 12.85 2.16 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
398.0 398.5 0.5 191.02 20.00
--------------------------------------------------------------
422.0 432.0 10.0 1.15 1.15
--------------------------------------------------------------
442.0 462.0 20.0 1.31 1.31 Lower Mafic
Flow
--------------------------------------------------------------
493.0 529.0 36.0 0.74 0.74 Lower Mafic
Flow
--------------------------------------------------------------------------
DG-08-292 18,060E 237.0 244.0 7.0 10.12 3.05 CMH
(Calcite --------------------------------------------------------------
Zone) Inc.
240.0 241.0 1.0 69.52 20.00
--------------------------------------------------------------------------
DG-08-296 17,980E 207.0 215.0 8.0 1.65 1.65
(Calcite --------------------------------------------------------------
Zone) 281.0 288.0 7.0 1.23 1.23
--------------------------------------------------------------
299.0 312.0 13.0 1.39 1.39
--------------------------------------------------------------------------
DG-08-302 17,940E 77.0 99.0 22.0 9.09 0.99 Lower Mafic
(Calcite Flow
Zone) --------------------------------------------------------------
Inc.
96.5 97.0 0.5 376.39 20.00
--------------------------------------------------------------
133.0 140.0 7.0 1.64 1.64
--------------------------------------------------------------
369.0 380.0 11.0 0.92 0.92
--------------------------------------------------------------------------
DG-08-308 19,080E 39.0 58.0 19.0 0.68 0.68
(Gap Zone) --------------------------------------------------------------
177.0 203.0 26.0 0.80 0.80
--------------------------------------------------------------
252.0 275.0 23.0 1.23 1.23 Lower Pillow
Flow
--------------------------------------------------------------
347.0 359.0 12.0 1.39 1.39
--------------------------------------------------------------
372.5 402.0 29.5 2.06 2.06 Lower Pillow
Flow
--------------------------------------------------------------
413.0 422.0 9.0 3.80 3.80 Mafic Flow
--------------------------------------------------------------
438.0 445.0 7.0 1.18 1.18
--------------------------------------------------------------
459.2 469.0 9.8 16.73 2.55 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
466.0 466.5 0.5 22.45 20.00
--------------------------------------------------------------
Inc.
466.5 467.0 0.5 295.63 20.00
--------------------------------------------------------------
489.0 501.0 12.0 9.89 7.18 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
491.0 492.0 1.0 28.80 20.00
--------------------------------------------------------------
Inc.
492.0 493.0 1.0 26.40 20.00
--------------------------------------------------------------
Inc.
494.0 495.0 1.0 37.30 20.00
--------------------------------------------------------------------------
DG-08-312 19,120E 216.0 227.0 11.0 0.98 0.98
(Gap Zone) --------------------------------------------------------------
490.0 500.0 10.0 0.85 0.85
--------------------------------------------------------------
516.0 530.0 14.0 0.77 0.77
--------------------------------------------------------------
569.0 576.0 7.0 1.73 1.73
--------------------------------------------------------------------------
DG-08-313 18,060E 224.0 234.0 10.0 5.01 3.27 Upper Mafic
Flow
--------------------------------------------------------------
(Calcite Inc.
Zone) 225.0 225.5 0.5 54.84 20.00
--------------------------------------------------------------
275.0 283.0 8.0 1.39 1.39
--------------------------------------------------------------
317.0 355.0 38.0 1.43 1.43 Lower Pillow
Flow
--------------------------------------------------------------
364.0 371.0 7.0 1.16 1.16
--------------------------------------------------------------------------
DG-08-315 19,160E 97.0 108.2 11.2 1.06 1.06
--------------------------------------------------------------
(Gap Zone) 152.0 167.0 15.0 1.13 1.13
--------------------------------------------------------------
180.0 189.0 9.0 0.97 0.97
--------------------------------------------------------------
313.0 325.0 12.0 0.91 0.91
--------------------------------------------------------------
342.0 406.0 64.0 1.83 1.73 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
369.0 370.0 1.0 26.70 20.00
--------------------------------------------------------------
436.0 443.0 7.0 1.10 1.10
--------------------------------------------------------------
453.0 471.0 18.0 1.12 1.12
--------------------------------------------------------------
482.0 489.0 7.0 2.28 2.28
--------------------------------------------------------------------------
DG-08-318 18,060E 316.0 323.5 7.5 1.69 1.69
--------------------------------------------------------------
(Calcite
Zone) 335.0 353.0 18.0 3.44 1.93 Lower MF/PF
--------------------------------------------------------------
394.0 413.0 19.0 2.81 2.54 Lower Mafic
Flow
--------------------------------------------------------------
Inc.
411.0 411.5 0.5 30.28 20.00
--------------------------------------------------------------------------
DG-08-320 19,040E 91.0 111.0 20.0 0.80 0.80
--------------------------------------------------------------
(Gap Zone) 333.0 352.0 19.0 1.05 1.05
--------------------------------------------------------------
400.0 413.0 13.0 0.71 0.71
--------------------------------------------------------------
475.0 487.0 12.0 1.21 1.21
--------------------------------------------------------------
528.0 544.0 16.0 2.47 2.46 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
529.0 530.0 1.0 20.10 20.00
--------------------------------------------------------------
553.0 560.0 7.0 1.23 1.23
--------------------------------------------------------------
583.0 621.0 38.0 1.90 1.52 Lower Pillow
Flow
--------------------------------------------------------------
Inc.
614.5 615.5 1.0 33.36 20.00
--------------------------------------------------------------
Inc.
620.0 620.5 0.5 22.27 20.00
--------------------------------------------------------------------------
DG-08-321 18,020E 165.0 172.0 7.0 4.95 3.40 Upper Mafic
Flow
--------------------------------------------------------------
(Calcite Inc.
Zone) 168.0 169.0 1.0 30.86 20.00
--------------------------------------------------------------
183.0 199.0 16.0 3.94 2.58 Pillow Flow
--------------------------------------------------------------
Inc.
189.0 190.0 1.0 41.70 20.00
--------------------------------------------------------------
312.0 330.0 18.0 0.69 0.69
--------------------------------------------------------------
360.0 377.0 17.0 1.94 1.94
--------------------------------------------------------------
393.0 440.0 47.0 1.21 1.21 Lower Pillow
Flow
--------------------------------------------------------------------------
DG-08-322 19,200E 125.0 138.0 13.0 0.85 0.85
--------------------------------------------------------------
(Gap Zone) 160.0 172.0 12.0 0.83 0.83
--------------------------------------------------------------
329.0 346.0 17.0 1.58 1.58 Mafic Flow
--------------------------------------------------------------
366.5 379.0 12.5 1.60 1.60
--------------------------------------------------------------
389.0 397.0 8.0 1.18 1.18
--------------------------------------------------------------
428.0 438.0 10.0 1.00 1.00
--------------------------------------------------------------
457.0 474.0 17.0 1.58 1.58 Lower Pillow
Flow
--------------------------------------------------------------
511.0 518.0 7.0 1.69 1.69
--------------------------------------------------------------------------
DG-08-325 17,980E 192.0 206.0 14.0 1.08 1.08
--------------------------------------------------------------
(Calcite
Zone) 316.0 326.0 10.0 1.98 1.98
--------------------------------------------------------------
362.0 382.0 20.0 1.92 1.92 Lower Pillow
Flow
--------------------------------------------------------------
415.0 429.0 14.0 2.18 2.18 Lower Pillow
Flow
--------------------------------------------------------------------------
DG-08-326 18,020E 42.0 50.0 8.0 1.39 1.39
--------------------------------------------------------------
(Calcite
Zone) 142.0 154.0 12.0 1.42 1.42
--------------------------------------------------------------
210.0 230.0 20.0 1.24 1.24
--------------------------------------------------------------
254.0 269.0 15.0 1.10 1.10
--------------------------------------------------------------
283.0 315.0 32.0 1.37 1.37 Lower Pillow
Flow
--------------------------------------------------------------
329.0 336.0 7.0 1.01 1.01
--------------------------------------------------------------
364.0 383.0 19.0 1.17 1.17 Lower Mafic
Flow
--------------------------------------------------------------------------
DG-08-329 19,240E 11.0 28.0 17.0 0.74 0.74
--------------------------------------------------------------
(Gap Zone) 52.0 64.0 12.0 0.87 0.87
--------------------------------------------------------------
263.0 306.0 43.0 1.09 1.09 Upper Mafic
Flow
--------------------------------------------------------------
317.0 345.0 28.0 0.85 0.85
--------------------------------------------------------------
359.0 366.0 7.0 1.78 1.78
--------------------------------------------------------------------------
DG-08-330 19,000E 53.0 60.0 7.0 5.71 2.87 Upper Mafic
Flow
--------------------------------------------------------------
(Gap Zone) Inc.
54.0 55.0 1.0 39.83 20.00
--------------------------------------------------------------
517.0 528.0 11.0 1.43 1.43
--------------------------------------------------------------------------
DG-08-333 17,980E 175.0 182.0 7.0 3.23 3.07
--------------------------------------------------------------
(Calcite Inc.
Zone) 177.0 178.0 1.0 21.10 20.00
--------------------------------------------------------------
252.0 261.0 9.0 0.89 0.89
--------------------------------------------------------------
374.0 381.0 7.0 2.05 2.05
--------------------------------------------------------------
390.0 400.0 10.0 1.41 1.41
--------------------------------------------------------------------------
DG-08-334 17,940E 267.0 274.0 7.0 2.73 2.73
--------------------------------------------------------------
(Calcite
Zone) 318.0 334.2 16.2 2.49 1.67 Mafic Flow
--------------------------------------------------------------
Inc.
318.0 318.5 0.5 46.34 20.00
--------------------------------------------------------------
363.0 384.0 21.0 1.02 1.02
--------------------------------------------------------------------------
DG-08-337 19,240E 39.0 117.9 78.9 1.33 1.33 Pillow Flow
--------------------------------------------------------------
(Gap Zone) 129.0 148.0 19.0 1.27 1.27
--------------------------------------------------------------
180.0 229.0 49.0 1.38 1.38 Pillow Flow
--------------------------------------------------------------
238.0 245.0 7.0 1.29 1.29
--------------------------------------------------------------
361.0 398.0 37.0 3.60 2.63 Lower PF/MF
--------------------------------------------------------------
Inc.
370.0 370.5 0.5 41.20 20.00
--------------------------------------------------------------
Inc.
370.5 371.0 0.5 40.51 20.00
--------------------------------------------------------------
Inc.
371.0 371.5 0.5 38.57 20.00
--------------------------------------------------------------
Inc.
371.5 372.0 0.5 31.80 20.00
--------------------------------------------------------------
424.0 434.0 10.0 2.07 2.07
--------------------------------------------------------------
520.0 537.0 17.0 1.25 1.25
--------------------------------------------------------------------------
DG-08-338 18,020E 65.0 72.0 7.0 4.25 3.61 Upper Mafic
Flow
--------------------------------------------------------------
(Calcite Inc.
Zone) 65.0 66.0 1.0 24.52 20.00
--------------------------------------------------------------------------
89.0 113.0 24.0 0.83 0.83
--------------------------------------------------------------
130.0 137.0 7.0 1.38 1.38
--------------------------------------------------------------
275.0 282.0 7.0 1.43 1.43
--------------------------------------------------------------
383.0 395.0 12.0 1.91 1.91
--------------------------------------------------------------
DG-08-339 18,920E 200.0 220.0 20.0 1.08 1.08
--------------------------------------------------------------
(Gap Zone)
--------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the table.
True width is estimated to be 65 to 75% of the drilled length.
Forward-Looking Information
This press release contains certain forward-looking information asdefined in applicable securities laws (referred to herein as"forward-looking statements"). Often, but not always, forward-lookingstatements can be identified by the use of words such as "plans","expects", "is expected", "budget", "scheduled", "estimates","continues", "forecasts", "projects", "predicts", "intends","anticipates" or "believes", or variations of, or the negatives of,such words and phrases, or statements that certain actions, events orresults "may", "could", "would", "should", "might" or "will" be taken,occur or be achieved. Specifically, this press release includesforward-looking statements regarding: the Company's planned drillingprogram and estimate of the quantity and quality of its mineralresources. Inherent in forward-looking statements are risks,uncertainties and other factors beyond the Company's ability to predictor control. These risks, uncertainties and other factors include, butare not limited to, the uncertainties involved in interpretinggeological data and other risks involved in the gold exploration anddevelopment industry as well as those risk factors listed in theCompany's Annual Information Form (AIF), Item 4.4 - "Description ofBusiness - Risk Factors" filed on SEDAR.
Readers are cautioned that the list of factors included in the AIFis not exhaustive of the factors that may affect the forward-lookingstatements. Actual results and developments are likely to differ, andmay differ materially, from those expressed or implied by theforward-looking statements contained in this press release. Suchstatements are based on a number of assumptions which may prove to beincorrect, including, but not limited to, the following assumptions:the Company's exploration and development activities on the Detour LakeProperty will proceed in accordance with the Company's currenttimetables; and the Company's resource estimates, geological andmetallurgical assumptions (including with respect to the size, gradeand recoverability of mineral resources) and operational and priceassumptions on which the resource estimates are based, are accurate.Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the Company's actualresults, performance or achievements to be materially different fromany of its future results, performance or achievements expressed orimplied by forward-looking statements. All forward-looking statementsherein are qualified by this cautionary statement. Accordingly, readersshould not place undue reliance on forward-looking statements. TheCompany undertakes no obligation to update publicly or otherwise reviseany forward-looking statements whether as a result of new informationor future events or otherwise, except as may be required by law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and'inferred' resources. Detour Gold advises investors that although theseterms are recognized and required by Canadian regulations (underNational Instrument 43-101 Standards of Disclosure for MineralProjects), the U.S. Securities and Exchange Commission does notrecognize them. Investors are cautioned not to assume that any part orall of the mineral deposits in these categories will ever be convertedinto reserves. In addition, 'inferred resources' have a great amount ofuncertainty as to their existence, and economic and legal feasibility.It cannot be assumed that all or any part of an inferred mineralresource will ever be upgraded to a higher category. Under Canadianrules, estimates of inferred mineral resources may not form the basisof feasibility or pre-feasibility studies, or economic studies exceptfor Preliminary Assessment as defined under 43-101. Investors arecautioned not to assume that part or all of an inferred resourceexists, or is economically or legally mineable."
About Pelangio
Pelangio is a gold exploration company active in the top-rankedmining jurisdictions in the world, Canada and Ghana. Pelangio's mainfocus is to advance its exploration programs on its premier landposition in Ghana totaling 290 square kilometres, located on strike andadjacent to AngloGold Ashanti's Obuasi gold mine.
Pelangio also has a 44.6% equity interest in Detour Gold, whichcontrols the Detour Lake advanced exploration project. The near-termobjective of Detour Gold is to advance the Detour Lake project todevelopment and production.
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatimextract of the press release issued by Detour Gold. Although Pelangiobelieves the information included in the press release to be generallyreliable, the data has not been independently verified and Pelangiodoes not assume any liability for the accuracy or completeness of suchinformation. Furthermore, as noted above in the verbatim extract, thepress release may contain forward-looking information within themeaning of applicable securities laws. Such information includes thestatements contained in the verbatim extract regarding Detour Gold'sexploration and drilling plans, plans to update the mineral resourceand the estimation of mineral resources and are subject to risks,uncertainties and other factors which may cause the actual results,performance or achievements to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking information. The risks include those that are set outabove in the verbatim extract and those contained in Detour Gold'sannual information form, Item 4.4 - "Description of Business - RiskFactors" filed on SEDAR as noted above. See also, the risks set out inPelangio's annual information form, management information circular andquarterly and annual management's discussion and analysis. There is noassurance that the forward-looking information contained in the pressrelease will prove to be accurate. Accordingly, readers should notplace undue reliance on the forward-looking information. All of theinformation contained in the press release is qualified by thiscautionary statement.
Contacts:
Pelangio Mines Inc.
Ingrid Hibbard
President & CEO
(905) 875-3828 or Toll Free: 1-877-746-1632
Pelangio Mines Inc.
Warren Bates
Vice President Exploration
(905) 875-3828 or Toll Free: 1-877-746-1632
Email: info@pelangio.com
Website: www.pelangio.com