Preliminary Drill Results at Pelangio's Grenfell Property Near Kirkland Lake Returns High-Grade Intercept of 314 G/T Over 1.74 Meters (Uncut)

 

TORONTO, ONTARIO / ACCESSWIRE / March 1, 2020 / Pelangio Exploration Inc. (TSX-V:PX) (OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce it has received assay results from five of eight holes completed on its Grenfell Property, located near Kirkland Lake's Macassa Mine, Ontario. (See Map 1).

Highlights of the results reported today include:

• Hole JS2004 was drilled in the immediate vicinity of the historical shaft and a surface bulk sample trench. JS2004 intersected a broad near surface zone of mineralization that returned 2.50 g/t Au over 26 meters A higher grade section within this intercept assayed 9.39 g/t Au over 3 meters.
• Hole JS2005 undercut Hole JS2004 also returned a broad zone of mineralization assaying 1.32 g/t Au over 26 meters (cut). Within this intercept there was a narrow vein high-grade intersection with visible gold which returned 314 g/t Au over 1.74 meters (uncut). A shorter interval with high-grade visible gold assayed 1810 g/t Au over 0.3 meters;
• Hole JS2006 undercut JS2005 and intersected undocumented mine working, stopping short of the target, and returned 26.5 g/t Au over 0.32 meters.

"We are exceptionally pleased with early results on the first few holes from our Grenfell Property," commented Ingrid Hibbard, President and CEO of Pelangio. "We are particularly pleased with both the broad nature of the mineralization and some exceptional high-grade intercepts." We look forward to receiving results from the remaining three holes."

Discussion of Recent Drill Program

The Grenfell property is comprised of 38 mining cells and 8 leased claims covering an area of approximately 6.7 square kilometers and is located 10 kilometers northwest of the Town of Kirkland Lake Ontario.

The recent drill program consisted of eight holes (693 meters). Results to date have been received for Holes JS2004, JS2005, JS2006, JS2007, and JS2008 or approximately 64% of the drilling completed. Holes JS2001 to JS2006 were drilled in the vicinity of the historical surface workings and shaft (see Maps 2 and 3). Hole JS2001 to JS2003 and JS2004 to JS2006 were drilled as fans from two separate drill pads to test two transverse striking veins / structures designated in historical literature as the No.6 and No.1 Veins. Early results to date on these veins/structures have confirmed the presence of broad near surface mineralized zones associated with shorter intercepts of high-grade gold mineralization proximal to the historical vein/structures.

Gold mineralization to date is associated with the hanging wall of a fault and diorite intrusive unit within the fault or proximal to it. The diorite intrusive is thought to represent the centre of the No.6 Vein/Structure referred to in historical reports. Holes JS2004 and JS2005 intersected significant gold mineralization above the No.6 Vein/Structure. Hole JS2006 was stopped short of the target zone due to the intersection of undocumented mine workings; the hole did however intersect a narrow high-grade intercept above the target zone.

No significant mineralization was intersected in holes JS2007 and JS2008 which were drilled to further evaluate a historical intercept on the SW zone (see Map 3).

All pertinent drill hole location data and significant assay data from the holes to date are presented in the accompanying Tables A and B.

TABLE A: DRILL HOLE LOCATION DATA

HOLE NO.	AZIMUTH	DIP (Degrees)	LENGTH (m)
JS2004	560315	5336213	198 degrees	-47	60.00
JS2005	560315	5336213	198 degrees	-60	125.50
JS006	560315	5336213	198 degrees	-70	53.50
JS007	559992	5336066	135 degrees	-45	90.00
JS008	559992	5336066	135 degrees	-55	113.85

TABLE B: SIGNIFICANT ASSAY INTERCEPTS

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