Jun 08, 2022 (ACCESSWIRE via COMTEX) -- TORONTO, ON / ACCESSWIRE / June 8, 2022 / Pelangio Exploration Inc. /zigman2/quotes/207536634/delayed CA:PX -12.50% (otc pink:PGXPF) ("Pelangio" or the "Company") completed 1,035 meters of drilling in six holes on its Gowan Project. The drill program tested several priority geophysical targets for nickel copper sulphides as well as copper zinc volcanogenic massive sulphide mineralization "VMS" targets. Drill targets in the north target area (NTA) of the property were associated with known historical copper zinc drill intercepts. The project is located within the Kidd-Munro assemblage, the same environment that hosts the Kidd Creek Mine, just 16 kilometers northwest of the Gowan project (see Fig.A).
Hole GO2202 returned an anomalous zinc intercept of 0.25% Zn over 1 meter from 206 to 207 meters.
Hole GO2202 included a 6.24 meter interval from 121.30 to 127.54 meters with up to 10% pyrite and minor strongly conductive semi massive pyrite over short sections contained moderately anomalous copper values up to 0.11% copper over 0.5 meters.
Hole GO2202 returned 0.24% Cu over 1.5 m from 76.5 m to 78 m.
Airborne electromagnetic (AirTEM) survey currently underway
A petrological study and whole rock analysis to further inform our understanding of the Gowan Property's lithology and the geological environment hosting known historical base metal mineralization is ongoing.
Ingrid Hibbard President & CEO commented "Our initial drill program at Gowan demonstrates encouraging base metal potential on the property. This prospective land package recently attracted an option partner who may earn up to a 50% interest in the project for $2 million over two years (see news release January 20, 2022). We are excited to work alongside our partner in advancing exploration and drilling programs at Gowan."
Gowan Property Program Discussion: (see Figures A and B)
Geophysical Work :
A follow-up ground induced polarization (IP) survey in the fall of 2021 was initiated to further evaluate a large airborne EM (VTEM) anomaly on the Gowan Property. This survey outlined two significant IP anomalies. In the NTA an IP anomaly was outlined and is known to be associated with historical copper mineralization. The second IP anomaly in the south target area (STA) suggests the possibility of a nickel-copper disseminated sulphide-type target. This IP anomaly was coincident with a previously identified airborne VTEM target associated with a strong magnetic response. These targets were the focus of the recent drill program.
Concurrent with drilling Pelangio commissioned a Maxwell Plate modelling study of the airborne VTEM survey data to examine it further for more subtle anomalies. This work outlined six new targets of interest (See Fig.B Targets A-F). One of the targets "B" is spatially associated with the known copper occurrences in the NTA. The other five targets are new areas of interest; targets A, C, and F are proximal to established IP targets while targets E and D represent new areas of interest on the property. These targets will undergo additional analysis to establish definitive drill hole locations for subsequent drilling.
Pelangio has also recently commissioned a second airborne electromagnetic survey (AirTEM) with a revised flight line orientation. It is anticipated that this new survey will assist with further evaluation of current targets and possibly generate new targets prior to a second phase of drilling. It is anticipated that the airborne survey will be completed within the next few weeks.
Table 1 Drill Hole Summary and Co-ordinates
|Hole No.||Easting||Northing||Az. Deg.||Dip Deg||Final Depth||Comments|
|GO2201A||492440||5391825||180||-50||52 m||Lost in overburden|
|GO2204A||492440||5390930||180||-53||92 m.||Lost in overburden|
|GO2204||492440||5390910||180||-60||193.8 m.||Lost in bedrock|
North Target Area:
A total of four holes were completed on the NTA to evaluate the extension of known historical copper mineralization associated with a coincident IP anomaly. Drill holes GO2201, GO2202 and GO2203 intersected substantial disseminated pyrite, magnetite and occasionally minor chalcopyrite. Hole GO2201A was lost in 52 meters of overburden. The sulphide mineralization encountered is interpreted to be the cause of the IP anomaly and associated magnetic anomaly. The best copper mineralization from drilling on the NTA was an anomalous intercept from hole GO2202 which returned 0.24% Cu over 1.5 m from 76.5 m to 78 m. Hole GO2202 also returned an anomalous zinc intercept of 0.25% Zn over 1 meter from 206 to 207 meters. In hole GO2202 a 6.24 meter interval from 121.30 to 127.54 meters with up to 10% pyrite and minor strongly conductive semi massive pyrite over short sections contained moderately anomalous copper values up to 0.11% copper over 0.5 meters. No significant gold mineralization was detected in the NTA drill holes. Note: Intervals described here are core lengths.
South Target Area: