Pelangio Exploration Inc.
Ghana – Timmins – Red Lake ● World-class Gold belts
Message: Pelangio Exploration Provides Exploration Update On The Obuasi Property
| Thu Dec 17, 2009 |
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TORONTO, Ontario, (December 17, 2009) -- Pelangio Exploration Inc. (PX:TSX-V) ("Pelangio" or the "Company") is pleased to provide an update on the drilling program on its property near Obuasi, Ghana (the "Obuasi Property"). The Company has now completed drilling for the year, having drilled 12 holes totaling 4,200 metres. These holes are part of Pelangio's first phase drilling program, which now contemplates 40 holes totaling 12,000 metres to be drilled by the end of the first quarter of 2010. Pelangio expects to commence the second phase of the program, approximately 20,000 metres, in the second quarter of 2010. Pelangio has used VTEM surveying to trace the structures associated with gold mineralization at the Obuasi Mine through the Obuasi Property. The drilling completed to date has successfully encountered these structures, assays on which are pending. Pelangio expects to release the assays from all drilling completed to date in mid- to late-January 2010. About Pelangio Pelangio is a gold exploration company active in two of the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company's primary goal is to discover Obuasi Mine-style gold ore shoots on its 290 km2 property located on strike and adjacent to AngloGold Ashanti's Obuasi Mine, which has produced 30 M oz of gold since 1897 and holds current reserves and resources of 37 M oz (9.7 M oz reserve in a global resource comprising: 24.5 M oz measured and indicated; 12.5 M oz inferred -- as further described in AngloGold Ashanti's Mineral Resource and Ore Reserve Report 2008). For additional information, please visit our website at www.pelangio.com or contact: Ingrid Hibbard, President & CEO or Warren Bates, Senior Vice President Exploration Tel: 905-875-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com |
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Dec 18, 2009 05:02AM
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