Pelangio Exploration Inc. ("Pelangio" or the "Company") is pleased to provide an update on exploration activities at the Manfo property in Ghana.
Mechanical Auger Program
Pelangio has completed approximately 3,800 metres of vertical drilling in a 603 hole mechanized auger drill program on two separate areas of the Manfo property between March and September 2013. Holes were drilled to an average depth of six metres on a grid spacing of 100 metres by 25 metres, with sampling being done on a metre-by-metre basis. Southwest of the Pokukrom East resource area, auger drill holes covering an area of five kilometres by 400 metres have been completed. These holes were spotted on a magnetic low area along strike from Pokukrom East. The second area of auger drilling was located approximately one kilometre north of the Nfante East area and covered one kilometre of strike length. Assays for this program are pending.
Reverse Circulation (RC), Air Core and Rotary Air Blast (RAB) Drill Commissioning
On September 10th, Pelangio commenced on a combined RC and RAB/Air Core drill program - the commissioning program of the Grasshopper drill rig, a highly mobile track-mounted drill rig with a small environmental footprint, which Pelangio arranged to have delivered to Ghana. The drill program will test some of the key areas around the Pokukrom East resource area, as well as exploration targets at the Sika North and Nkansu areas, which were established by diamond drilling and trenching in 2012 and 2013. The drill program will also test geophysical targets in the West IP area. Completion of the program is expected by mid-December, at which time the program will have established cost effective parameters for RC, RAB and Air Core programs using the Grasshopper drill rig.
Hole depths for RAB and Air Core drill holes are expected to reach 40 metres, and RC drill holes are expected to reach up to 150 metres.
Grant of Options
The Board of Directors has approved the grant of options to purchase 150,000 shares to a director of the Company, which options are exercisable into common shares of the Company at a price of $0.075 per share. Subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan the options have a term of five years and will expire on October 28, 2018.
Pelangio's Senior Vice President Exploration is Warren Bates, APGeo (APG #0211), a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101"), who has reviewed the technical content of this press release.
Source: http://www.pelangio.com/