The Dome West property comprises 10 mining cells covering 56 hectares and is strategically located adjacent to both
Pursuant to the terms of the option agreement, as outlined in the Company's news release dated
Highlights of the Dome West property
Completed a 543m drill hole on Dome West Property to evaluate a prospective porphyritic intrusive unit interpreted to strike across the Dome West Property from the former
Confirmed the presence of seven new quartz veins within known prospective stratigraphy extending from the Dome and Paymaster mines
Pursuant to the terms of the option agreement, Pelangio will be the project operator. Upon exercise of the option, Pelangio will grant
Plans for Dome West
Pelangio intends to continue with further exploration drilling in the P1 target area with a focus on vein systems associated with the altered leucoxene mafic flows proximal to known porphyry intrusives. It is anticipated that future drilling will be initiated from the north shore of
Update Regarding Previously Closed Private Placement
Further to the press release of the Company dated
About Pelangio
Pelangio acquires and explores large land packages in world-class gold belts in
Contact:
Tel: 905-336-3828
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 strategy of acquiring large land packages in areas of sizable gold mineralization, the Company's plans to follow-up on previous work, the successful completion of the work commitment required to continue the option to acquire the Dome West property 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 including the risk that favourable results may not be obtained, and other risks involved in the gold exploration industry. 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.
(C) 2020 Electronic News Publishing, source