Tue Feb 12, 2008 Pelangio Advised Of Drill Results From Detour Gold'S Drilling Program At Detour Lake, Ontario (Dg-07-194A Intersects 16.97 G/T Over 15.0 M In West Pit)
TORONTO, Ontario (February 12, 2008) - Pelangio Mines Inc. (PLG:TSX) ("Pelangio" or the "Company") has been advised by Detour Gold Corporation ("Detour Gold") that it has released drill results from 38 holes of the Phase II drilling program at its Detour Lake property in northern Ontario. Detour Gold started Phase II drilling in July 2007 and thus far has completed 199 holes totaling 73,620 metres (including 15 holes abandoned totaling 1,290 metres).
Pelangio has a 49.1% equity interest in Detour Gold (20 million shares). Detour Gold issued a press release today, the verbatim text of which follows:
"Detour Gold Reports More Results from 2007 Phase II Drilling
at its Detour Lake Property in Northern Ontario, Canada
(DG-07-194A intersects 16.97 g/t over 15.0 m in West Pit)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of 38 holes from its Phase II drilling program at the Detour Lake property in northern Ontario. The Company started Phase II drilling in July 2007 and thus far has completed 199 holes totaling 73,620 metres (including 15 holes abandoned for 1,290 metres). The Company has now reported 72 holes totaling 22,487 metres (including six holes abandoned for 303 metres). There are six (6) active drill rigs on site, four of which are on the Phase II program and two on the exploration program.
Drilling in the West Pit area (17 holes, including two abandoned) is continuing to return excellent and consistent results. Significant new mineralization was found outside of the boundaries of the current US$575 and US$700 pit shells, at the east end of the West Pit, in holes DG-07-194A, DG-07-187, DG-07-174, and DG-07-156. In the Gap Zone area, five (5) of the seven (7) drill holes tested only a small portion of the mineralized corridor, near the upper level of the Chert Marker Horizon (CMH) and footwall zone. Encouraging results were obtained from another 14 holes (including one abandoned) in the Calcite Zone.
The best mineralized (uncut) intervals encountered are shown below.
West Pit:
DG-07-156 DG-07-173 DG-07-174 DG-07-180
2.33 g/t 1.27 g/t 2.50 g/t 1.54 g/t
over 37.0 m over 41.0 m over 23.0 m over 35.0 m
DG-07-185 DG-07-194A
6.79 g/t 16.97 g/t
over 27.0 m over 15.0 m
Gap Zone:
DG-07-167 DG-07183 DG-07-188
1.21 g/t 21.35 g/t 12.69 g/t
over 48 m over 7.0 m over 7.0 m
5.37 g/t
over 10.0 m
Calcite Zone:
DG-07-163A DG-07-176 DG-07-189 DG-07-195
3.19 g/t over 16.0 m 4.47 g/t 11.29 g/t 2.16 g/t over
over 17.0 m over 11.0 m 23.2 m
7.66 g/t over 7.0 m
Exploration drilling, outside of the deposit area, is progressing well with two (2) drill rigs that have completed 4,442 metres in 15 holes along a six kilometre strike length, east of the deposit.
The 2007-08 Phase II program was recently increased by another 10,000 metres for a total of 120,000 metres and is expected to be completed in the second quarter of 2008. The Company plans to release a mineral resource update by mid-2008, which would include Phase I and approximately half of Phase II drilling. Thus far, the results from the first 72 holes from Phase II are expected to be incremental to the current resource base.
On December 11, 2007, Detour Gold reported a resource update that included Phase I drilling. The open pit gold resource (capped at 20 g/t gold) contains 1.22 M oz in measured (19.7 Mt grading 1.93 g/t), 3.61 M oz in indicated (70.2 Mt grading 1.60 g/t) and 3.02 M oz in inferred (63.3 Mt grading 1.49 g/t), using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold). The current resource is contained within one large pit, located in the area of the former Detour Lake mine, which produced 1.8 million ounces of gold from 1983 to 1999.
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.detourgold.com/dgc/LatestDrillResults.asp on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The December 2007 mineral resource was prepared by Thon Consulting and audited by Michael W. Kociumbas, P.Geo., Vice-President of Watts, Griffis and McOuat Limited. Details on the current mineral resource are available in the January 2008 Technical Report, which is posted on the Company's website or on SEDAR (www.sedar.com).
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold (>5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
For further information, please contact:
Gerald Panneton, President and CEO
Tel: (416) 304.0800
Laurie Gaborit, Director Investor Relations
Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1
Forward-Looking Information
Certain statements herein may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information appears in a number of places and can be identified by the use of words such as "intends" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information includes statements regarding the Company's exploration plans with respect to the Property and the estimation of mineral resources and are subject to such forward-looking risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in interpreting geological data, increase in costs and exchange rate fluctuations and other risks involved in the gold exploration and development industry as well as those risk factors discussed under "Risk Factors" in the Company's final prospectus dated January 22, 2007 available at www.sedar.com. There can be no assurance that forward-looking information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Detour Gold. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified by this cautionary statement. The Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Detour Lake Project - Highlights of Drill Results
Hole No.
Section No.
From (m)
To (m)
Length (m)
Au Uncut (g/t)
Au Cut to 20 g/t (g/t)
Host Rock Unit
DG-07-148
18,840E
55.0
81.5
26.5
0.94
0.94
(Gap Zone)
162.0
169.0
7.0
1.13
1.13
326.5
333.0
6.5
1.58
1.58
DG-07-151
18,500E
59.0
68.0
9.0
2.37
2.37
(Calcite Zone)
120.0
128.0
8.0
2.16
2.16
DG-07-156
20,140E
173.0
210.0
37.0
2.33
1.64
Talc schist (SLDZ)
(West Pit)
Inc. 195.0
196.0
1.0
45.31
20.00
DG-07-161
18,200E
102.0
122.0
20.0
1.03
1.03
(Calcite Zone)
146.0
157.0
11.0
0.75
0.75
208.0
220.0
12.0
1.14
1.14
281.0
289.0
8.0
2.06
2.06
366.0
389.0
23.0
1.41
1.41
420.0
427.0
7.0
1.05
1.05
DG-07-163
18,540E
Abandoned, not sampled
(Calcite Zone)
DG-07-163A
18,540E
179.0
198.0
19.0
1.59
1.49
Upper Mafic Flow
(Calcite Zone)
Inc. 179.0
180.0
1.0
21.86
20.00
331.0
338.0
7.0
2.20
2.03
Inc. 333.0
333.5
0.5
22.29
20.00
435.0
451.0
16.0
3.19
2.31
Mafic Flow
Inc. 444.0
444.5
0.5
48.03
20.00
DG-07-164
19,400E
63.0
74.9
11.9
2.88
2.53
Lower Pillow Flow
(West Pit)
Inc. 74.4
74.9
0.5
28.31
20.00
105.0
112.0
7.0
1.28
1.28
121.0
150.0
29.0
0.93
0.93
273.0
286.0
13.0
0.87
0.87
DG-07-165
19,720E
80.0
90.0
10.0
0.76
0.76
(West Pit)
214.0
221.0
7.0
2.81
2.81
337.0
344.0
7.0
1.78
1.64
Inc. 339.5
340.0
0.5
21.94
20.00
DG-07-166
18,760E
61.0
68.0
7.0
1.60
1.60
(Gap Zone)
DG-07-167
18,700E
75.0
123.0
48.0
1.21
1.01
PF/MF contact
(Gap Zone)
Inc. 117.0
117.5
0.5
38.58
20.00
167.0
177.0
10.0
0.84
0.84
DG-07-168
18,500E
136.0
150.0
14.0
2.25
2.25
Mafic Flow
(Calcite Zone)
207.0
214.0
7.0
1.17
1.17
280.0
294.0
14.0
0.93
0.93
308.0
323.0
15.0
0.96
0.96
412.0
419.0
7.0
2.88
2.88
466.0
475.0
9.0
1.12
1.12
488.0
500.0
12.0
1.18
1.18
DG-07-169
19,720E
No significant results
(West Pit)
DG-07-170
19,520E
35.0
40.0
5.0
2.41
2.07
(West Pit)
Inc. 36.8
37.3
0.5
23.39
20.00
54.8
62.0
7.2
2.19
2.19
100.0
112.0
12.0
1.45
1.45
DG-07-171
18,620E
No significant results
(West Pit)
DG-07-172
18,240E
136.0
147.0
11.0
0.87
0.87
(Calcite Zone)
265.0
272.0
7.0
1.26
1.26
351.0
361.0
10.0
0.76
0.76
DG-07-173
19,520E
60.0
68.0
8.0
3.06
3.06
(West Pit)
135.0
176.0
41.0
1.27
1.16
MF/CMH contact
Inc. 164.0
165.0
1.0
24.60
20.00
DG-07-174
20,120E
194.0
202.0
8.0
1.89
1.89
(West Pit)
236.0
246.0
10.0
2.92
1.55
Lower Mafic Flow
Inc. 243.6
244.1
0.5
47.35
20.00
262.0
272.0
10.0
1.12
1.12
284.0
307.0
23.0
2.50
2.02
CMH
Inc. 300.1
300.6
0.5
29.90
20.00
Inc. 300.6
301.1
0.5
32.10
20.00
341.0
349.0
8.0
1.27
1.27
DG-07-175
18,580E
67.5
78.0
10.5
1.40
1.40
(Calcite Zone)
128.0
141.0
13.0
3.75
2.11
Mafic Flow
Inc. 140.0
141.0
1.0
41.30
20.00
DG-07-176
18,500E
179.0
196.0
17.0
4.47
1.28
Upper Mafic Flow
(Calcite Zone)
Inc. 179.0
179.5
0.5
128.34
20.00
211.0
225.0
14.0
1.57
1.57
313.0
337.0
24.0
1.53
1.53
PF/MF contact
389.0
407.0
18.0
0.87
0.87
DG-07-177
19,600E
132.0
147.0
15.0
1.15
1.15
(West Pit)
DG-07-178
18,700E
No significant results
(Gap Zone)
DG-07-179
18,260E
45.0
61.0
16.0
1.53
1.53
(Calcite Zone)
76.0
87.0
11.0
0.72
0.72
DG-07-180
19,600E
53.0
88.0
35.0
1.54
1.54
Upper Mafic Flow
(West Pit)
107.0
117.0
10.0
2.09
2.09
130.0
138.0
8.0
6.92
3.09
Mafic Flow
Inc. 134.0
135.0
1.0
50.60
20.00
157.8
170.0
12.2
2.26
2.26
Mafic Flow
200.0
208.0
8.0
1.09
1.09
263.0
286.0
23.0
2.13
2.13
CMH
DG-07-181
20,040E
No significant results; intersected a stope
(West Pit)
DG-07-181A
20,040E
No significant results
(West Pit)
DG-07-182
18,560E
181.0
189.0
8.0
1.34
1.34
(Calcite Zone)
224.0
241.0
17.0
1.72
1.60
Upper Mafic Flow
Inc. 240.0
241.0
1.0
22.10
20.00
361.0
377.0
16.0
1.14
1.14
472.0
492.0
20.0
0.94
0.94
DG-07-183
18,800E
38.0
46.5
8.5
0.89
0.89
(Gap Zone)
101.00
112.0
11.0
0.78
0.78
200.0
209.0
9.0
0.82
0.82
228.0
235.0
7.0
21.35
9.75
Pillow Flow
Inc. 228.0
229.0
1.0
89.70
20.00
Inc. 229.0
230.0
1.0
24.20
20.00
Inc. 230.5
231.0
0.5
34.63
20.00
273.0
284.0
11.0
0.74
0.74
303.0
326.0
23.0
1.16
1.16
Upper Mafic Flow
383.0
393.0
10.0
5.37
3.48
Lower Mafic Flow
Inc. 383.0
384.0
1.0
38.90
20.00
408.0
417.0
9.0
1.10
1.10
DG-07-184
18,220E
No significant results
(Calcite Zone)
DG-07-185
19,660E
62.0
80.0
18.0
1.06
1.06
(West Pit)
138.9
160.0
21.1
1.25
1.25
Lower Mafic Flow
232.0
259.0
27.0
6.79
2.53
Lower Mafic Flow
Inc. 233.5
234.0
0.5
178.53
20.00
Inc. 241.0
241.6
0.6
31.30
20.00
Inc. 246.0
246.5
0.5
61.69
20.00
Inc. 254.0
255.0
1.0
28.30
20.00
297.0
318.0
21.0
0.88
0.88
339.0
360.0
21.0
0.79
0.79
DG-07-186
18,220E
36.0
50.0
14.0
1.20
1.20
(Calcite Zone)
62.0
74.0
12.0
0.85
0.85
176.5
186.0
9.5
3.14
2.76
Mafic Flow
Inc. 184.5
185.0
0.5
27.10
20.00
DG-07-187
19,960E
Abandoned, not sampled
(West Pit)
DG-07-187A
19,960E
321.0
328.0
7.0
1.84
1.84
(West Pit)
339.0
346.0
7.0
1.53
1.53
DG-07-188
18,620E
80.0
87.0
7.0
1.25
1.25
(Gap Zone)
181.0
187.0
6.0
3.87
3.87
261.0
285.0
24.0
1.02
0.82
Inc. 279.7
280.2
0.5
29.32
20.00
344.0
351.0
7.0
12.69
3.25
Lower Pillow Flow
Inc. 346.0
347.0
1.0
86.10
20.00
416.0
422.0
6.0
1.03
1.03
436.0
441.0
5.0
1.97
1.97
DG-07-189
18,100E
131.0
138.0
7.0
1.63
1.63
(Calcite Zone)
150.0
157.0
7.0
1.09
1.09
179.0
190.0
11.0
0.94
0.94
296.0
307.0
11.0
11.29
5.84
Lower Mafic Flow
Inc. 300.0
301.0
1.0
35.40
20.00
Inc. 304.0
305.0
1.0
64.60
20.00
327.0
342.0
15.0
2.27
2.27
Lower Mafic Flow
376.0
384.0
8.0
1.01
1.01
DG-07-191
19,800E
47.00
54.0
7.0
1.15
1.15
(West Pit)
100.0
107.0
7.0
1.12
1.12
149.00
157.0
8.0
1.27
1.27
236.0
249.0
13.0
1.46
1.46
DG-07-192
19,760E
40.5
49.0
8.5
1.37
1.37
(West Pit)
279.0
286.0
7.0
1.14
1.14
DG-07-194A
19,920E
328.0
337.0
9.0
1.19
1.19
(West Pit)
351.0
364.0
13.0
1.05
1.05
374.0
382.0
8.0
1.05
1.05
474.0
489.0
15.0
16.97
6.20
Chloritic Greenstone (SLDZ)
Inc. 474.0
474.5
0.5
33.61
20.00
Inc. 474.5
475.0
0.5
110.41
20.00
Inc. 475.0
475.5
0.5
121.89
20.00
Inc. 477.0
477.5
0.5
108.31
20.00
Inc. 477.5
478.0
0.5
23.43
20.00
Inc. 478.5
479.0
0.5
45.36
20.00
DG-07-195
18,140E
150.0
165.0
15.0
2.18
2.18
Pillow Flow
(Calcite Zone)
186.0
209.2
23.2
2.16
2.16
Lower Pillow Flow
280.0
285.0
5.0
8.07
2.14
Mafic Flow
Inc. 283.0
283.5
0.5
79.22
20.00
302.0
309.0
7.0
7.66
4.15
Lower Mafic Flow
Inc. 304.7
305.3
0.6
37.40
20.00
Inc. 306.4
306.9
0.5
48.16
20.00
319.0
326.0
7.0
3.61
1.49
Lower Mafic Flow
Inc. 319.5
320.0
0.5
49.72
20.00
Note: All values above 20 g/t in the composite are reported in the table. True width is estimated to be 65 to 75% of the drilled length."
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company’s main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti’s Obuasi gold mine.
Pelangio also has a 49.1% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.
For additional information, please visit our website at www.pelangio.com or contact:
Ingrid Hibbard, President & CEO or
Warren Bates, Vice President Exploration
Tel: 905-875-3828 / Toll-free: 1-877-746-1632 / Email:
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatim extract of the press release issued by Detour Gold. Although Pelangio believes the information included in the press release to be generally reliable, the data has not been independently verified and Pelangio does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Detour Gold's exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in Detour Gold's prospectus as noted above. See also, the risks set out in Pelangio's annual information form, management information circular and quarterly and annual management's discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information.
All of the information contained in the press release is qualified by this cautionary statement.
You can view the Next News Releases item: Tue Mar 11, 2008, Pelangio Advised Of Drill Results From Detour Gold'S Drilling Program At Detour Lake, Ontario (DG-07-193: 19.33 G/T / 8.0 M In Gap Zone; DG-07-202: 3.47 G/T / 29.0 M In West Pit And Calcite Zone Extended Further West)
You can view the Previous News Releases item: Tue Jan 29, 2008, Pelangio Files NI 43-101 Report on Mineral Resource Estimate for the Detour Lake Project, Ontario, Canada
You can return to the main News Releases page, or press the Back button on your browser.
