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Pelangio Exploration (TSXV:PX)(OTC PINK:PGXPF) (“Pelangio” or the “Company”) announces that Roscan Minerals Corporation (“Roscan”) has provided the initial payment of $150,000 to fund exploration expenditures pursuant to the option and joint venture agreement (the “Option Agreement”), dated November 7, 2016, and amended February 14, 2017, pursuant to which the parties established an earn-in arrangement to …
Pelangio Exploration (TSXV:PX)(OTC PINK:PGXPF) (“Pelangio” or the “Company”) announces that Roscan Minerals Corporation (“Roscan”) has provided the initial payment of $150,000 to fund exploration expenditures pursuant to the option and joint venture agreement (the “Option Agreement”), dated November 7, 2016, and amended February 14, 2017, pursuant to which the parties established an earn-in arrangement to jointly advance the Dormaa Project in Ghana, West Africa.
As quoted in the press release:
“We are very pleased to resume exploration on the Dormaa property with receipt of this $150,000 payment. These funds, along with the second payment due May 4, 2017, will provide for expanded gold-in-soil geochemical surveys, prospecting, and approximately 3,000 metres of reverse circulation and air core or rotary air blast drilling to be completed by Pelangio,” stated Ingrid Hibbard, President and CEO. “This program was designed to follow up on the large gold-in soil anomalies on the property which appear to be the source of substantial, unregulated artisanal and mechanized alluvial operations carried out around the property during 2014 and 2015.”
