Date: March 24, 2020
Pelangio Exploration is a mineral exploration company. In fact, they're currently developing the value of its gold exploration and resource projects located in Ghana and Ontario, Canada. The Company operates with a strategy designed to capitalize upon property acquisition opportunities arising during bear markets that are positioned for the bull market's wealth creation.
Pelangio's exploration properties are leveraged by a project generator model. This model aides the Company in sustaining the costs associated with geological study, corporate governance, and exploration field work.
"We're particularly encouraged about our most recent results at Kirkland Lake, at our Grenfell property. We had high-grade results of 314 grams over 1.74 meters.", says President and CEO, Ingrid Hibbard.
The Grenfell property is located in Grenfell Township approximately 10 km northwest of the Town of Kirkland Lake Ontario. It comprises of a series of contiguous mining leases and mining claims covering about 6.7 km2. This property has been worked sporadically on and off since the early 1930's. Furthermore, the majority of work on the property took place in the 1930's to early 1940's. This is when bulk sampling of some high-grade gold veins occurred in conjunction with diamond drilling, shaft sinking and substantial lateral development on two underground levels. A series of surface exploration programs were conducted from the early 1980's to about 2013. More recent exploration work and re-evaluation of historical work has resulted in new zones of gold mineralization. It has also resulted in recommendations for further exploration on known historical zones from the 1930-1940 era.
Pelangio's most well-known project generation success was the acquisition, exploration, re-envisioning, and subsequent sale of the Detour Lake deposit in Northern Ontario to Detour Gold Corporation. This property is now a long life, large-scale open pit mining operation with reserves of over 16 million ounces of gold.
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