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Pelangio Continues Option Agreement to Acquire the Dalton Property in Timmins Ontario and Announces Phase 1 Drilling Program
TORONTO, ON / ACCESSWIRE / September 20, 2019 / Pelangio Exploration Inc. (TSXV:PX)(OTCPI...
About this update from Pelangio Exploration Inc.
[{"type":"text","content":"Pelangio Continues Option Agreement to Acquire the Dalton Property in Timmins Ontario and Announces Phase 1 Drilling ProgramTORONTO, ON / ACCESSWIRE / September 20, 2019 / Pelangio Exploration Inc. (TSXV:PX)(OTCPINK:PGXPF) (\"Pelangio\" or the \"Company\") is pleased to announce that it will continue the option agreement to acquire a 100% interest in the mineral rights to all, or a portion of, 24 patented claims, located in Timmins, Ontario, (the \"Dalton Property\") from Rita Kean, the Estate of Jack Kean and the Estate of Glady McLellan (collectively the (\"Kean Group\")).To meet the obligations of the option agreement, Pelangio has issued 90,000 common shares, made cash payment of $27,000 to the Kean Group and committed to a work program of $150,000 (see Pelangio news release dated September 10, 2018 for further details).HighlightsDrilling program set to begin on 3.3 km2 DaltonPropertyLocated in the Timmins - Porcupine mining camp, which is known to have produced over 70 million ounces of gold1.5 km southwest of Newmont Goldcorp's HollingerOpen Pit, which has had historical production of approximately 19.3 million ounces of gold\"We continue to be very excited about the potential of the Dalton Property, located in the heart of the Timmins gold camp, only 1.5 km southwest of the Hollinger Open Pit,\" stated Ingrid Hibbard, President and CEO of Pelangio. \"We look forward to resuming exploration at Dalton with our fall drill program\". Dalton Property Drilling to CommencePelangio intends to test four targets with its phase 1 drill program, commencing on or about September 30, 2019. These four distinct high priority targets were defined by Induced Polarization (\"IP\") geophysical work proximal to surface trenching with strong shearing, sulphide mineralization, alteration and veining. These IP targets are also associated with a strong magnetic high.Exploration to date on the Dalton Property has been focused on the eastern section of the property underlain by favorable Tisdale Group volcanics and structure typically associated with the gold mines in the Timmins Camp. The Dalton Property has very limited rock exposure (less than 5% of the property) and thus current day exploration techniques are reliant on geophysical and geochemical exploration techniques. As a result, Pelangio recently completed an airborne magnetic survey, a mo...