RE: Pelangio Advised by Detour Gold of Filing of T"Gerald Panneton, President and CEO of Detour Gold commented: "We are continuing to advance Detour Lake towards development and production. The project is remarkably strong at US$700/oz gold price with nearly 10 million ounces grading 1.91 g/t at a cut-off grade as high as 0.90 g/t and up to 15 million ounces grading 1.02 g/t at a cut-off grade as low as 0.30 g/t. This will provide Detour Gold with flexibility during production depending on the gold price environment and will help secure our profitability. The preliminary mining schedule, which supports our expansion from 30,000 tpd to 60,000 tpd in Year 3, shows that Detour Lake will be the largest gold operation in North America. There is potential to further increase the resource base especially to the west of the Calcite Zone and below the former open pit. We are awaiting results for 40% of our Phase II program and our Phase III program of 30,000 metres is underway. We expect to deliver a positive feasibility study as we proceed with a final pit design and reserve estimates, possibly by year-end. It is our goal to make Detour Gold the next premium intermediate gold producer.""
AND IT'S TRADING AT $44/OZ