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Pelangio Exploration Inc. Announces an Updated Mineral Resource Estimate for Its Manfo Gold Project, Ghana
Toronto, Ontario--(Newsfile Corp. - August 20, 2025) - Pelangio Exploration Inc. (TSXV: PX) (OTC ...
About this update from Pelangio Exploration Inc.
[{"type":"text","content":"Pelangio Exploration Inc. Announces an Updated Mineral Resource Estimate for Its Manfo Gold Project, GhanaToronto, Ontario--(Newsfile Corp. - August 20, 2025) - Pelangio Exploration Inc. (TSXV: PX) (OTC PINK: PGXPF) (\"Pelangio\" or the \"Company\") is pleased to announce the results of an updated, independent, Mineral Resource Estimate (the \"Resource\") for the Company's 100% owned Manfo Gold Project (\"Manfo\") in Ghana. The Resource was completed by SEMS Technical Services Ltd. of Ghana. The Resource, with an effective date of July 31, 2025, is reported for four gold deposits using constraining optimized pits at a gold price of US$2,600 per ounce, and:Updates Pelangio's Maiden gold resource estimate which was completed in 2013 at a gold price of US$1,450 per ounce.Defines a total Indicated Mineral Resource of 441,000 ounces of gold at an average grade of 1.16 g/t Au and totalling 11,787,000 tonnes; andDefines a total Inferred Mineral Resource of 396,000 ounces of gold at an average grade of 0.77 g/t Au and totalling 16,048,000 tonnes.Adds a fourth deposit to the Resource for Manfo, the Nkansu deposit.Represents an increase of 126% in estimated gold ounces in the Indicated category plus an increase of 395% in estimated gold ounces in the Inferred category as compared to the 2013 pit-constrained mineral resource estimate that used $1,450 Au for its pit optimization.The August 2025 Resource (refer to Table 1) uses the 2013 deposit models for the Manfo gold project generated by SRK Consulting (Canada) Inc., updated to include drilling conducted by Pelangio since 2013. A new model was created for the Nkansu deposit, which was largely drilled after the 2013 Maiden Resource, adding a fourth deposit to the Manfo total Resource. The updated Resource reflects the significantly increased gold price since 2013 using US$2,600 per ounce gold for the economic pit optimizations as compared to US$1,450 used in 2013 and utilizes lower gold grade cut-off values justified by the current gold price. In addition to the gold price, the other parameters for the economic pit optimization, including costs, pit slopes and recoveries were reviewed and updated as appropriate to reflect current economic conditions. The 2025 updated Resource has returned substantially more pit-constrained gold mineralization than the 2013 resource estimate defined, althou...