Pelangio Exploration Completes UAV Magnetics Survey on Its Obuasi Project, Ghana

In This Article:

High-Resolution Survey Highlights Untested Targets on Highly Prospective Ground

Toronto, Ontario--(Newsfile Corp. - December 19, 2024) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") is pleased to announce the completion of a high-resolution UAV airborne magnetics survey on its Obuasi property in Ghana. The survey has returned highly encouraging results, highlighting the interpreted strike extension of the Obuasi Mine trend (operated by AngloGold Ashanti) with multiple untested targets.

Ingrid Hibbard, President and CEO, commented:

"The UAV airborne magnetics survey has delivered a much clearer picture of the geological and structural framework over a section of our Obuasi property. This improved understanding will help us identify and prioritize targets for Obuasi-style mineralization. Pelangio retains 100% ownership of this highly prospective ground. We look forward to TuNya's detailed interpretation of the survey and proposed follow-up programs."

Background

The survey was completed as part of TuNya Mineral Resources Ltd.'s US$250,000 technical study, which is part of their earn-in agreement on the southern Tarkwaian portion of Pelangio's Obuasi property. Following analysis of historical data and field mapping programs, TuNya identified the northwestern section of the property as particularly prospective. This area covers the interpreted strike extension of the Obuasi Mine trend and hosts numerous highly anomalous rock chip samples (Figure 1).

Survey and Results

The UAV magnetics survey was conducted by SEMS Exploration of Ghana and covered an area of 18 square kilometers with 50-meter line spacing for a total of 392 line-kilometers flown. The survey utilized a Matrice 300 RTK drone towing a GEMS Systems AIRBIRD magnetometer.

The key findings are as follows:

  • Highly Prospective Stratigraphy

    • A high-magnetic horizon interpreted to represent the mafic volcanic unit along which most of the Obuasi Mine mineralization sits has been well defined by the survey (Figure 2).

    • Numerous anomalous (> 1 g/t Au) rock chip samples obtained in past exploration programs by Pelangio are located along the magnetic feature and a historical trench situated on the eastern flank of the magnetic high returned 30 meters at 0.47 g/t Au.

    • Six kilometers strike of this target horizon is untested by drilling.

  • Fold Structure

    • At the northern end of the high-magnetic feature a low-amplitude fold is mapped by the magnetic survey. In the core of this fold are numerous anomalous rock chip samples including nine samples with gold values ranging from 5.0 to 11.9 g/t Au, and historical trenching returned up to 34 meters at 0.59 g/t Au.

    • The majority of this area is untested by drilling.