TORONTO, ON / ACCESSWIRE / February 25, 2019 / Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) ("Pelangio" or the
"Company") is pleased to provide an exploration update on three of its highly prospective Canadian projects. The Dome West
and Dalton properties are strategically located in the Timmins mining camp and the Montcalm properties are located in proximity to
Glencore's Montcalm Mine Property (see Maps 1, 2 & 3 below).
Highlights
Dome West Property (800 metres ("m") west of the Dome Mine):
- diamond drilling to begin in April
- two target areas for diamond drilling identified
- access agreement to the property with Goldcorp Inc. well underway
Dalton Property (1.5 kilometres ("km") SW of the historic Hollinger Gold Mine):
- geophysical surveying, geochemical sampling and prospecting during the 2019 summer field season
- sampling and assessment of historical drill core, surface pits and trenches identified substantial alteration and sulphide
mineralization
- diamond drilling planned for autumn 2019
Montcalm Area Nickel Cobalt Copper Properties:
- 4500m drilling program underway by Pancontinental Resources Corporation on the Pancontinental/ Pelangio Project under option
from Pelangio and located adjacent to the former Glencore Montcalm Mine
- Pelangio optioned the Strachan property to Pancontinental in January 2019
"We are very pleased to have begun our initial investigations of the newly acquired Dome West and Dalton gold properties,
with diamond drilling slated to begin on the Dome West property in April," commented Ingrid Hibbard, President and CEO of Pelangio.
"Our Timmins camp projects offer great potential due to their proximity to historical producing mines. We look forward to continued
exploration activity in 2019 with diamond drilling at Dome West, Dalton, and Montcalm as well as further target generation at both
Dome West and Dalton."
Dome West Project
Pelangio acquired the option on the Dome West Property in late January, 2019 (see press release January 22, 2019).The
Dome West property, formerly controlled by Central Porcupine Mines Ltd., is a strategic land holding that is adjacent to both the
former Paymaster Mine property and Goldcorp's Dome Mine (Source: Ont. Dept of Mines Map 449B, Ferguson, 1969). More
specifically, the Dome West property is located approximately 800 metres west of the Dome Mine (See Maps 1 and 2 below).
In fact, the property is in such close proximity to the Dome Mine, that access to Pelangio's property is via Goldcorp's Dome Mine
surface holdings.
Upon acquiring the Dome West property, the project's historical data underwent a technical review. This review of the limited
data available has shown two main target areas of interest. Currently the highest priority target is Target P1, a highly
prospective porphyritic sill unit interpreted to extend across a substantial portion of the Dome West property at the 1000-foot
elevation from the former Paymaster Mine property (Source: Ontario Dept of Mines Map 449B, Ferguson, 1969 and OGS Assessment
File T-125). A second target area of interest is present in the central portion of the property where government geologists
have documented a historical shaft and a small adit associated with quartz veins in outcrop (reference: Ontario Dept of Mines
Map Map 2075).
Early in February, a property visit was completed to evaluate access to the property and facilitate an access agreement with
Goldcorp. Given the extremely challenging topography for ground access to the P1 target area, it was determined that the best
cost-effective and environmentally sound solution was to utilize helicopter support for the diamond drill program on the P1 target.
Pelangio is grateful to Goldcorp for their support and ongoing consultation to reach this solution.
Subject to the completion of the access agreement and securing a helicopter drill rig, Pelangio anticipates initiating testing
of the P1 target in April.
With the exception of some geophysical surveying in recent years, very limited exploration work has been conducted on the Dome
West Property since the late 1940's. Pelangio intends to continue investigating this highly prospective property to develop
additional drill targets utilizing modern exploration geochemical and geophysical surveying techniques where applicable.
Map 1: Location of the Dalton and Dome West property in reference to historical mines in the
Timmins Camp
(To view the full-size image, please click here)
Dalton Property:
Pelangio's Dalton Property is located approximately 1.5 km SW of the historic Hollinger Gold Mine currently being operated as an
open pit operation by Goldcorp (see Maps 1 and 2).In the late fall of 2018, Pelangio completed sampling of historical
drill core and a number of surface pits and trenches located on the eastern extremity of the property. Substantial alteration and
sulphide mineralization were observed in the samples suggesting a very prospective environment for gold mineralization, although
the sampling program did not return any significant gold results.
A series of shear zones observed on the property trend in an east-west direction and all of the historical drill holes recently
sampled by Pelangio were oriented parallel to these shear zones. As such, these drill holes did not adequately evaluate the
potential gold bearing shear zones or structures. For minimal cost, this sampling allowed Pelangio to establish the existence of a
favourable environment for gold deposition demonstrated by substantial alteration and sulphide mineralization on areas of the
property with no outcrop exposure.
Early in the 2019 field season Pelangio intends to conduct a detailed state of the art geochemical sampling and geophysical
surveying to outline potential targets at depth on the property. The majority of historical work on this property was from surface
to an approximate vertical depth of 150m leaving significant untested potential at depth.
Map 2: Regional geology of the Timmins area showing the location of the Dome West and Dalton
properties in relation to the Dome and Hollinger Mines
(To view the full-size image, please click here)
Montcalm Area Holdings
Aside from Pelangio's primary Canadian gold projects, it also owns an interest in a number of prospective mineral claims
proximal to Glencore's former Montcalm nickel, copper, cobalt mine (See Map 3 below), located approximately 65 km NW of
the City of Timmins. These claims comprise the Montcalm and Nova properties as well as the recently optioned Strachan property
(see press release January 18, 2019).All three properties are under option to Pancontinental Resources and provide
Pelangio with exposure to a significant battery metals exploration program. In the event that Pancontinental fully exercises its
options on the properties, Pelangio will maintain exposure to exploration success through the share issuances from Pancontinental
as well as Pelangio's remaining 25% interest in Strachan and the residual royalties on the Montcalm and Nova properties.
Pancontinental is currently conducting a winter drilling campaign on Pelangio's Montcalm property adjacent to Glencore's Montcalm
Mine Property.
Map #3: Location of the Strachan property in reference to the Montcalm Mine and the Montcalm and Nova
projects
(To view the full-size image, please click here)
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo has verified
and approved the data disclosed in this release.
About Pelangio
Pelangio acquires and explores large land packages in world-class gold belts in Canada and Ghana, West Africa. In Canada, the
company is focusing on the Dome West property located 800 metres from the Dome Mine in Timmins, the 25 km2 Birch Lake
Property located in the Red Lake Mining District and the Dalton Property located 1.5 km from the Hollinger mine in Timmins. In
Ghana, the Company is focusing on two 100%- owned camp-sized properties: the 100 km2 Manfo Property, the site of seven
recent near-surface gold discoveries, and the 284 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold
Ashanti's prolific high-grade Obuasi Mine. Ghana is an English-speaking, common law jurisdiction that is consistently ranked
amongst the most favourable mining jurisdictions in Africa.
For additional information, please visit our website at www.pelangio.com, or
contact:
Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of
applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use
of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements
and information include statements regarding the Company's ability to complete the planned work programs, the Company's strategy of
acquiring large land packages in areas of sizable gold mineralization, the Company's plans to follow-up on previous work, and the
Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous
assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are
subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or
industry results, to be materially different from any future results, performance or achievements expressed or implied by such
forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of
global and local economic climate, gold price volatility, increases in costs, exchange rate fluctuations, speculative nature of
gold exploration and other risks involved in the gold exploration industry, including the risk that favourable results may not be
obtained. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional
information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a
forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the
Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no
obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking
statements and information herein are qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pelangio Exploration Inc.
