Pelangio Exploration Announces Further Drill Results From the Obuasi Property
Pelangio Exploration Inc. (TSX VENTURE:PX) reported assay results from a further 4,955 metres (20 holes) of its first phase diamond drill program on its property in Obuasi, Ghana.
Pelangio Exploration Inc. (TSX VENTURE:PX) reported assay results from a further 4,955 metres (20 holes) of its first phase diamond drill program on its property in Obuasi, Ghana.
The press release is quoted as saying:
Pelangio is a junior gold exploration company with over $7 million in working capital that is active in two of the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company’s primary goal is to discover Obuasi mine-style gold ore shoots on its 290 km2 property located on strike and adjacent to AngloGold Ashanti’s Obuasi mine, which has produced 30 M oz of gold since 1897 and holds current reserves and resources of 37 M oz (9.7 M oz reserve in a global resource comprising: 24.5 M oz measured and indicated; 12.5 M oz inferred – as further described in AngloGold Ashanti’s Mineral Resource and Ore Reserve Report.