May 24 2017
Pelangio Exploration Inc. announces that Roscan Minerals Corporation has provided the second payment of $150,000 to fund exploration expenditures at the Dormaa Project.
This payment is pursuant to the option and joint venture agreement (the "Option Agreement"), dated November 7, 2016, and amended February 14, 2017, pursuant to which the parties established an earn-in arrangement to jointly advance the Dormaa Project in Ghana, West Africa.
Pelangio has recently completed a prospecting program and gold-in-soil geochemical survey on the Dormaa Project. This drill program will be based on the work programs completed to date.
Highlights of the upcoming drill program at Dormaa include:
- preparation and mobilization of Grasshopper drill rig to the site,
- 3,000 metres of reverse circulation and air core or rotary air blast drill program planned for mid-June commencement
Based on the preliminary work plan approved by both parties, expenditures of approximately $300,000 are planned for the Dormaa Project.
Newly released satellite imagery indicates that substantial, unregulated artisanal and mechanized alluvial operations surrounding the property were carried out during 2014-2015. These alluvial operations appear to be sourced by large gold-in-soil anomalies on the Dormaa Project (see Pelangio Exploration Inc. news release March 6, 2017).
Mr. Warren Bates, P.Geo., (APGO #0211) is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release.
Source: http://www.pelangio.com/