Pelangio Explora Stock Price, News & Analysis

Pelangio Exploration Inc. has entered into an earn-in agreement with Record Gold Corp. for its Grenfell gold project in Ontario. Record Gold can acquire up to an 80% interest by spending $2 million on exploration and paying $60,000 in cash over five years. Pelangio retains a 20% interest and owns about 3.87 million shares of Record Gold, offering potential share appreciation benefits. The Grenfell property has a history of gold exploration since the 1930s, with recent drilling programs indicating promising gold mineralization.

Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) announced the approval of 1,505,000 incentive stock options for directors, officers, employees, and consultants. The options are exercisable into common shares at a price of $0.05 per share and have a five-year term, expiring on August 31, 2027. Pelangio is focused on acquiring and exploring land in gold belts in Ghana and Canada, including properties adjacent to significant mines.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced the approval of all management proposals at its annual meeting on June 22, 2022. Shareholders re-elected five directors and reappointed the auditor while reapproving the stock option plan. Pelangio focuses on gold exploration in Ghana and Canada, emphasizing its land packages in world-class gold belts. The company owns properties like the Manfo and Obuasi sites in Ghana and the Dome West and Gowan projects in Canada. Further information is available on their website.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced the completion of its initial drill program at the Gowan Project, totaling 1,035 meters over six holes. The drilling targeted nickel-copper sulphides and copper-zinc volcanogenic massive sulphide mineralization. Notable results include a 0.25% Zn intercept over 1 meter and 0.24% Cu over 1.5 meters in hole GO2202. An airborne electromagnetic survey is ongoing, and further geological analysis is planned to enhance understanding of mineralization. The project has attracted a potential partner for additional funding.

Pelangio Exploration Inc. has agreed to purchase a 100% interest in the Kenogaming Project, a 178-hectare polymetallic site located 63 km southwest of Timmins, Ontario. The project includes enriched gold and zinc zones and is drill-ready with permitting underway for a 1,000-meter drill program. Highlights from historical drilling include intercepts of 35.65 g/t gold over 1.21 meters. Tony Makuch joins the advisory committee, bringing over 35 years of mining experience. The acquisition aims to enhance Pelangio's portfolio and leverage synergies for future exploration and development.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced plans to extend the expiry date of certain outstanding warrants, subject to TSX Venture Exchange approval. The warrants, originally issued in May 2020, will now expire on May 19, 2023. A total of 5,000,000 and 4,420,000 warrants are involved, with an acceleration provision included based on share price performance. The amendment qualifies as a related party transaction involving the company's President and CEO, Ingrid Hibbard. The company focuses on gold exploration in Ghana and Canada.

Pelangio Exploration announced the completion of 1,446.50 meters of diamond drilling at its Dome West Project near Timmins, Ontario. Both drill holes intersected substantial Vipond stratigraphy, known for hosting gold zones at nearby mines, but assay results showed negligible gold values. The company emphasized the need for further drilling across the 400-meter strike length to evaluate potential economic mineralization. Pelangio received a $150,000 grant from the Province of Ontario to support this exploration.

Pelangio Exploration Inc. (OTC PINK: PGXPF) has initiated a diamond drill program at its Gowan polymetallic project in Ontario, targeting nickel-copper sulphides and copper-zinc VMS mineralization. The project is strategically located near the Kidd Creek Mine. The company identified six new base metal targets through Maxwell Plate modeling, enhancing the exploration potential. Historical drilling has revealed significant base metal intercepts, with notable grades including 0.32% copper and 11.99 g/t silver over 10.97 meters. Pelangio also completed drilling at its Dome West Project and awaits assay results.

Pelangio Exploration Inc. has signed an earn-in letter agreement with Privco for the Gowan Project located near Timmins, Ontario. Privco will pay $500,000 and fund $1.5 million in exploration to earn a 50% interest. Key targets include a copper-zinc VMS and a nickel-copper target, with drilling mobilization in progress. Upon completion of initial payments, Privco can earn an additional 25% by paying $100,000 and investing a further $900,000 in exploration.