-
Miny Gold (nymex:qo)
1421.25
-
Platinum (nymex:pl)
1435.8
-
Palladium (nymex:pa)
680.75
Pelangio Exploration Inc.
Pelangio Exploration Inc., a development stage company, engages in the acquisition, exploration, and development of mineral property interests. It primarily explores for gold.
The company's principal properties include the Obuasi Property that covers approximately 290 square kilometers and the Manfo Property, which covers approximately 100 square kilometers located on the prolific Ashanti and Sefwi greenstone belts in Ghana, West Africa.
Pelangio Exploration Inc. was incorporated in 2008 and is based in Milton, Canada.
Obuasi gold mine
Pelangio controls three early-stage gold exploration concessions totaling 290 square kilometres on strike and adjacent to AngloGold Ashanti's world-class Obuasi gold mine, in Ghana, West Africa.
The Obuasi mine has produced over 30 million ounces of gold since 1897 and currently hosts an 8.92 million ounce reserve grading 7.05 g/t gold in a measured and indicated resource of 18.13 million ounces and a further 11.40 million ounces of inferred resource.
Through prospecting, mapping, aerial surveying and drilling, Pelangio has confirmed to date that at least 15 kilometres of the structure that hosts gold mineralization at the Obuasi mine traverses Pelangio's concessions, with the potential for significantly further extensions to be recognized in the near future.
Pelangio aims to focus on the extension of the mine trend closest to the Obuasi mine, with the goal of hitting near-surface Obuasi style gold mineralization.
Manfo Property
Pelangio's latest acquisition, the Manfo Property, is a 100 sq. km property on the Sefwi greenstone belt, northwest of the Ashanti greenstone belt that hosts the Obuasi property.
The acquisition exemplifies Pelangio's mission of acquiring camp-size land packages on world-class gold belts, as Newmont's Ahafo mine is only 14 kilometres to the north and Kinross Gold Corporation's Chirano mine lies 50 kilometres to the south, on the same fault network as Manfo.
The Manfo Property comprises three contiguous concessions named Subriso, Sempekrom and Twabidi, respectively.
In August 2011, Pelangio acquired 100% of each of the concessions pursuant to the terms of applicable option agreements by completing cash payments totalling US$435,000, completing US$2 million in work expenditures and granting the option or a 2.5% net smelter royalty (“NSR”) on the Manfo Property, subject to Pelangio’s right to repurchase 1% of the NSR for a payment of US$4,000,000.
Pelangio Exploration Inc.
Head office
440 Harrop Drive, 2nd Floor
Milton, Ontario
Canada L9T 3H2
Tel: 905-875-3828
Fax: 905-875-3829
Toll Free: 1-877-746-1632
Email: info@pelangio.com
Top Stories
Colorado gets back Gold for Capitol Dome
Colorado get back its gold for the dome from Italy after being…
- Rouhani victory creates initial impact on Iran Gold sector
- Gold crazy Indians drives down rupee value
-
Huge challenges ahead for SA Platinum sector : Nomura
Jun 19, 2013 05:29 PM
In 2014, Nomura forecasts that 14 percent of South… -
Colorado gets back Gold for Capitol Dome
Jun 19, 2013 02:56 PM
Colorado get back its gold for the dome from Italy… -
Rouhani victory creates initial impact on Iran Gold sector
Jun 19, 2013 12:45 PM
Apart from the efforts of the new government led by… -
Gold crazy Indians drives down rupee value
Jun 19, 2013 11:20 AM
Weak rupee made the imports costlier and fresh buying…
-
China grows big enough to control Silver prices
Jun 18, 2013 01:12 PM
China is moving along that line, said many analysts… -
Vietnam sees Gold demand dip after June 30 deadline
Jun 18, 2013 03:15 PM
As part of the drive, banks must return all gold deposits… -
China's Shandong buys Aussie Gold miner Stonewall
Jun 18, 2013 12:24 PM
Stonewall Resources shares gained 8.3 per cent, or… -
India allows SEZ Gold exports after 3% value addition
Jun 18, 2013 11:46 AM
In a statement, commerce ministry said it has now…
-
India Gold trade body plans to unify prices
Jun 17, 2013 05:12 PM
With the development of new price pooling mechanism,… -
Anti-Gold moves to trim India CAD this fiscal : RBI
Jun 17, 2013 04:35 PM
The central bank attributed higher CAD in April-May… -
India buys Gold, Silver worth $15.88 billion in Apr-May
Jun 17, 2013 02:55 PM
In May alone, country's gold and silver imports jumped… -
Aussie Gold outlook still bright
Jun 17, 2013 12:35 PM
Gold, which attracted white settlers from the west…
-
Why Indians should refrain from Gold buying?
Jun 14, 2013 03:38 PM
Analysts are wondering about the consequences if people… -
India witnesses a turnaround on Gold : Planning Commission
Jun 14, 2013 03:55 PM
According to Montek Singh Ahluwalia, deputy chairman… -
Polymetal to cut 2014 Gold output by 41.2 tons
Jun 14, 2013 01:52 PM
Polymetal expects the decline in output at the Khakandzha… -
Many Shanglin miners go into hiding in Gold rich Ghana
Jun 14, 2013 11:19 AM
Shanglin is China's gold county as it is rich in gold.…
-
Alaska still holds cards for Gold prospectors
Jun 13, 2013 02:43 PM
Alaska was not even a US territory during the California… -
Kazakhstan central bank buys 32 tons of domestic Gold
Jun 13, 2013 06:10 PM
In line with a presidential decree, last year country's… -
Bacteria to turn waste into Gold
Jun 13, 2013 05:30 PM
Earlier, Researchers at McMaster University in Ontario… -
India net Gold imports value drops to $36 million in May
Jun 13, 2013 12:09 PM
India imported 117 metric tons of gold in April after…
-
India extends ban on advances to all forms of Gold
Jun 12, 2013 03:40 PM
Purchase of any form of gold, whether it be from the… -
Why does everybody criticizes India Gold policy
Jun 12, 2013 12:42 PM
Analysts said India's anti gold policies would hurt… -
India Gold-ETF witnesses positive inflows in May
Jun 12, 2013 02:56 PM
Currently, India's mutual fund industry offers 14… -
Peru produces nearly 15 tons of Gold, 283 tons of Silver in April
Jun 12, 2013 01:45 PM
However, for the first four months of this year, gold…
-
Is Iran's Gold game reaching a point of no return?
Jun 11, 2013 01:25 PM
Analysts said Iran in future, plans to settle all… -
China to buy 50,000 tons of Gold concentrate from Polymetal
Jun 11, 2013 10:47 AM
The gold concentrate, from which China can refine…
