Pelangio has completed an initial 16-hole drill program totaling 2,379-metres on the Manfo Property. The encouraging drilling results encountered to date continue to enhance the Company's ongoing planning of the second phase program, which commenced in mid-October 2010.  During 2011, the Company drilled 108 diamond drill totaling 22,637 metres as part of its ongoing second phase drill program on the property. 

Pelangio's exploration on the Manfo Property to date has focused on an approximately 10 square kilometre area, though many other targets have been identified or are currently being delineated elsewhere on the property. The Sika North target, for example, located approximately 3.5 kilometres north of Pokukrom West, comprises three separate anomalies measuring 200, 400 and 375 metres along strike, respectively, and is contourable at up to 100 ppb gold. Additionally, the Company has interpreted a 10 kilometre trend of widely spaced anomalies from geochemical and geophysical surveying, approximately two kilometres northwest of the drilling completed to date. Geochemical samples were collected on the trend at 800-metre intervals and appear to be related along strike.

Although geochemical surveying has been very successful in identifying mineralized zones to date, the Manfo Property is predominantly a cover play, with geochemical anomalies being erosional “windows” through cover onto underlying mineralization.  In areas of impermeable cover, geochemical sampling is generally ineffective.  During the fourth quarter of 2011, we completed an induced polarization geophysical survey of the Manfo Property, the results of which were received in late 2011 and early 2012.  The results suggested that gold mineralization on the Manfo Property is associated with areas of high resistivity.  The survey identified approximately 20 new targets exhibiting such resistivity highs in areas where cover may mask geochemical anomalies.  We are currently drill-testing nine of these targets for new discoveries and is, or will be, conducting surface work or drilling on the remainder in the coming months.