Pelangio Explora Stock Price, News & Analysis

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.

Pelangio Exploration Inc. has successfully closed the final tranche of a non-brokered private placement, raising an additional $100,000 to bring total proceeds to $780,063. The final tranche consisted of 1,000,000 units sold at $0.10 per unit, with each unit including a common share and a warrant exercisable at $0.15 until January 13, 2023. The private placement remains pending the final approval from the TSX Venture Exchange.

Pelangio Exploration Inc. has successfully closed the second tranche of its private placement, raising $317,093 from the issuance of 3,170,930 units. This brings the total gross proceeds to $680,063 from two tranches. Each unit consists of one common share and a quarter of a warrant, with full warrants priced at $0.15 until January 12, 2023. The company plans to complete a third tranche for an additional $100,000. A related party transaction occurred, with the CEO purchasing 250,000 units. Securities are subject to a four-month hold period.

Pelangio Exploration Inc. has expanded its non-brokered private placement due to increased demand, raising the target gross proceeds from CDN$625,000 to CDN$780,063. Each unit consists of one common share and one quarter of a share purchase warrant, with a full warrant priced at $0.15 for one year. The offering will issue up to 7,800,630 shares at a price of $0.10 per share. Finder's fees of up to 8% may be paid. The securities are subject to a four-month hold period.