Pelangio Provides Exploration Update on Hailstone Project

About this update from Pelangio Exploration Inc.

Pelangio Provides Exploration Update on Hailstone ProjectTORONTO, ON / ACCESSWIRE / May 7, 2021 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") has completed a total of 908 meters of diamond drilling and tested eight targets at its Hailstone project located in Northern Saskatchewan. All assay results have now been received. The eight holes intersected shear zone structures, extensive disseminated pyrite and zones of silicification associated with pyrite, however, there were no significant gold values to report from this first drill program.Ingrid Hibbard, President and CEO commented, "The geological information obtained from the program contributes to our understanding of the project and we intend to continue our exploration efforts at this large strategically located property. It is our opinion that the La Ronge Belt is becoming a re-vitalized gold exploration camp with excellent gold exploration potential and it is opportunistic to control and maintain a large land position here. Along with good mineral potential, Saskatchewan is a very mining friendly province with excellent mineral exploration incentives allowing us to conduct very cost-effective exploration programs."The recent drill program was focused on the Asbell Bay target area. These holes targeted known gold occurrences such as the Bornite Zone which returned surface grabs of 15.9 g/t Au and 2.68% Cu as well as several coincident geophysical and gold till anomalies along the 1.8 km long Asbell Bay trend. Although the recent drill program did not detect significant gold mineralization the eight drill holes did intersect zones of interest. These zones included shear zone structures, extensive disseminated pyrite and zones of silicification associated with pyrite.These geological indicators along with known gold occurrences are all indicative of a favourable environment for gold deposition. Exploration to date on the property has been concentrated on approximately 3% of the 75 square kilometer property. In light of the project's proximity to a number of former gold mines and deposits (see figure1), with similar prospective property geology at Hailstone the Company intends to continue to evaluate the property and plan for further target development work. Particular attention will be paid to areas where high gold grain counts in till samples were detected on the ...

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