Pelangio Exploration Inc. is a Canadian junior mineral exploration company, with a focus on gold, active in two of the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company focuses on the acquisition and exploration of under-valued or early stage exploration prospects located in world-class gold belts, and aims to make discoveries that will significantly increase shareholder value. Pelangio is listed on the TSX Venture Exchange under the symbol PX.
Pelangio's current primary exploration property is a 290 square kilometre early stage exploration property in Ghana, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine (production of over 30 million ounces in the last century). Pelangio defined several prospective gold targets on the property through aerial surveys, surface work and drilling during 2007 and has completed 6,400 metres of drilling during 2008 (of a projected 10,000 metres), as well as a significant amount of further surface work and surveying.
Pelangio also owns, or has the right to acquire 100% of, a number of exploration properties in Northern Ontario, including promising properties near Hemlo and Manitouwadge.
Pelangio holds an equity interest in Detour Gold Corporation, which it intends to hold for investments purposes and to benefit from further exploration and development at the Detour Lake Project. This equity interest also represents a ready source of funds during market downturns when financing may not be readily available.