Pelangio Mines Inc.



 
Thu May 29, 2008
Pelangio Advised of Drill Results from Detour Gold's Drilling Program at Detour Lake, Ontario

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(4.11 g/t over 43.0 m in Gap Zone and 8.86 g/t over 17.0 m in West Pit area )

TORONTO, Ontario (May 29, 2008) -- Pelangio Mines Inc. (PLG:TSX) ("Pelangio") has been advised by Detour Gold Corporation ("Detour Gold") that it has released drill results of 21 holes from the Gap Zone and West Pit of its Phase II drilling program at the Detour Lake property in northern Ontario. Detour Gold started Phase II drilling in July 2007 and thus far has completed 294 holes totaling 115,739 metres (including 17 holes abandoned totaling 1,411 metres). Detour Gold has now reported 160 holes totaling 55,852 metres (including 13 holes abandoned for 1,146 metres. There are four (4) active drill rigs on site.

Pelangio has a 44.6% 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 Consistent Results from 2007 Phase II
Drilling at its Detour Lake Property in Northern Ontario, Canada
(4.11 g/t over 43.0 m in Gap Zone and 8.86 g/t over 17.0 m in West Pit area)"


Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of 21 holes from the Gap Zone and West Pit of 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 294 holes totaling 115,739 metres (including 17 holes abandoned for 1,411 metres). The Company has now reported 160 holes totaling 55,852 metres (including 13 holes abandoned for 1,146 metres). There are four (4) active drill rigs on site.

Results from 17 holes in the Gap Zone continued to return consistent positive drill results as the Company completes its 40 m X 40 m infill program. Of importance, 4.11 g/t (uncut) over 43.0 metres was intersected in hole DG-07-245, which is near the outline of the current US$575 pit shell. Gold mineralization was encountered in all four (4) holes drilled in the West Pit area. Holes DG-07-232 intersected 1.00 g/t over 30.0 metres within 50 metres of surface and 400 metres northward into the hanging wall. The extent of the northern limits of the mineralized corridor remains to be defined in certain areas of the Gap Zone and West Pit.

The best mineralized (uncut) intervals encountered are shown below.

Gap Zone

DG-07-245

DG-07-249

DG-07-254

DG-07-257

1.85 g/t over 28.8 m
4.11 g/t over 43.0 m

8.60 g/t over 12.0 m
8.46 g/t over 26.0 m
3.12 g/t over 14.0 m

1.31 g/t over 27.0 m
3.81 g/t over 12.0 m

3.45 g/t over 15.0 m
1.48 g/t over 34.0 m

 

 

 

 

DG-07-268

DG-08-285

DG-08-290

DG-08-293

3.70 g/t over 39.0 m
3.24 g/t over 14.0 m

1.46 g/t over 59.0 m
1.86 g/t over 22.0 m

2.45 g/t over 36.0 m
1.57 g/t over 29.2 m

1.82 g/t over 22.0 m

West Pit

 

 

 

DG-07-225

DG-07-232

DG-07-240

 

1.10 g/t over 54.0 m

7.40 g/t over 8.0 m

8.86 g/t over 17.0 m

The 135,000 metre Phase II program is expected to be completed by mid-2008. Approximately half of that program, along with Phase I, will be included in the end of June resource update. The Company is extremely confident in meeting its objectives of outlining a mineral resource of over 10 million ounces of gold at Detour Lake. The planned June resource update will be based on a fully designed and engineered open pit that will serve as the basis of our 2008 feasibility study to be completed by year-end.

The December 2007 mineral resource contained 4.8 million ounces in the measured and indicated categories (1.22 M oz in measured and 3.61 M oz in indicated) and 3.0 million ounces in the inferred category, using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold and capped at 20 g/t gold).

Regional Exploration Program

Detour Gold completed a 12,055 metre regional drilling program on the Detour Lake property in the first quarter of 2008. Approximately six kilometres of the Sunday Lake Deformation Zone, east of the Detour Lake deposit were tested with 5,389 metres in 20 holes. Several high deformation zones were intersected into the volcanic assemblage, but with only anomalous to low grade gold mineralization. The best holes included: 1.46 g/t over 8.0 metres (DGE-08-319) and 1.08 g/t over 4.0 metres (DGE-08-323).

Another 3,981 metres in 11 holes targeted the North Walter Lake area where the gold mineralization is localized on the south limb of a north-overturned syncline. The best hole intersected 0.91 g/t over 28.0 metres (DGE-08-346) and confirmed the previously known mineralization. The eastern continuation of the M Zone (main target on Block A) on the Detour Lake property was tested over a strike length of 2,000 metres by 2,685 metres of drilling in 7 holes. Although the same ultramafic sequence was intersected, no significant gold mineralization was found.

The 2008 regional exploration results are being assessed for a follow-up drill program next winter. The potential for gold mineralization remains to be fully tested in these areas.

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 ("QA/QC"), refer to the press release dated April 11, 2007.

For the regional exploration program, samples were prepared and assayed at ALS Chemex in Vancouver, British Columbia, using a 51 analyses aqua regia ICPMS method (ME-MS41) with Au 30g FA AA finish for ore grade gold samples (Au-AA25). The same QA/QC (April 11, 2007) was applied to this program.

For further information, please contact:

Laurie Gaborit
Director Investor Relations
Tel: (416) 304.0581

Gerald Panneton
President and CEO
Tel: (416) 304.0800

Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1

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-07-225
West Pit

19,600E

68.0

78.0

10.0

1.15

1.15

 

104.0

119.0

15.0

0.83

0.83

 

213.0

267.0

54.0

1.10

1.10

Lower Pillow Flow

293.0

300.0

7.0

0.82

0.82

 

DG-07-232
West Pit

19,300E

39.0

69.0

30.0

1.00

1.00

Upper Pillow Flow

101.0

109.0

8.0

1.03

1.03

 

257.0

264.0

7.0

1.85

1.85

 

305.0

317.0

12.0

1.47

1.47

 

335.0

348.0

13.0

1.63

1.63

 

358.0

365.0

7.0

0.88

0.88

 

416.0

445.0

29.0

1.23

1.23

Lower Pillow Flow

453.0

466.0

13.0

1.34

1.34

 

475.0

484.0

9.0

1.00

1.00

 

514.0

523.0

9.0

1.19

1.19

 

533.0

541.0

8.0

7.40

6.77

Lower Mafic Flow

Inc. 534.0

534.5

0.5

27.43

20.00

 

Inc. 537.0

537.5

0.5

20.09

20.00

 

Inc. 539.0

540.0

1.0

21.32

20.00

 

571.0

620.0

49.0

0.95

0.94

Lower MF/CMH

Inc. 571.5

572.0

0.5

20.68

20.00

 

DG-07-240
West Pit

19,280E

49.0

85.0

36.0

1.04

1.04

Contact PF/MF

128.0

145.0

17.0

8.86

2.48

Lower PF

Inc. 137.0

138.0

1.0

128.46

20.00

 

167.0

177.0

10.0

1.61

1.61

 

196.0

220.0

24.0

0.83

0.83

 

315.0

325.0

10.0

1.86

1.86

 

345.0

381.0

36.0

1.09

1.09

Lower MF/Lower PF

496.0

507.0

11.0

1.87

1.87

 

DG-07-241
West Pit

19,480E

38.0

46.0

8.0

4.70

2.49

Lower Mafic Flow

Inc. 38.7

39.2

0.5

55.35

20.00

 

58.0

70.0

12.0

2.65

2.65

CMH

100.0

107.0

7.0

1.25

1.25

 

DG-07-242

19,220E

26.5

34.0

7.5

0.95

0.95

 

Gap Zone

 

64.0

71.0

7.0

0.76

0.76

 

DG-07-244
Gap Zone

19,200E

Casing broke in overburden. Not assayed

DG-07-244A
Gap Zone

19,200E

46.0

55.0

9.0

1.12

1.12

 

74.0

81.0

7.0

1.10

1.10

 

DG-07-245

18,840E

205.2

234.0

28.8

1.85

1.85

Upper Pillow Flow

Gap Zone

 

425.0

432.0

7.0

0.81

0.81

 

485.0

528.0

43.0

4.11

2.92

Lower Pillow Flow

Inc. 492.0

493.0

1.0

26.93

20.00

 

Inc. 524.0

525.0

1.0

64.21

20.00

 

550.0

559.0

9.0

1.92

1.92

 

DG-07-248
Gap Zone

19,240E

96.0

103.0

7.0

1.33

1.33

 

114.0

121.0

7.0

1.51

1.51

 

159.0

168.0

9.0

1.80

1.80

 

DG-07-249

18,920E

47.0

58.0

11.0

0.65

0.65

 

Gap Zone

 

118.0

125.0

7.0

1.15

1.15

 

 

 

196.0

208.0

12.0

1.09

1.09

 

 

 

306.0

320.0

14.0

3.12

1.38

Lower Pillow Flow

 

 

Inc. 318.3

318.8

0.5

68.64

20.00

 

 

 

463.0

475.0

12.0

8.60

6.98

Lower Pillow Flow

 

 

Inc. 471.0

472.0

1.0

31.40

20.00

 

 

 

Inc. 472.0

473.0

1.0

28.10

20.00

 

 

 

497.0

523.0

26.0

8.46

6.49

Lower Pillow Flow

 

 

Inc. 499.0

500.0

1.0

41.90

20.00

 

 

 

Inc. 500.0

501.0

1.0

41.40

20.00

 

 

 

Inc. 503.0

503.6

0.6

22.50

20.00

 

 

 

Inc. 503.6

504.1

0.5

33.24

20.00

 

556.0

566.0

10.0

2.43

2.43

 

DG-07-253
Gap Zone

19,000E

40.0

48.0

8.0

0.87

0.87

 

124.0

131.0

7.0

0.88

0.88

 

DG-07-254
Gap Zone

18,960E

100.0

127.0

27.0

1.31

1.31

Upper Mafic Flow

206.0

213.0

7.0

1.68

1.68

 

225.0

239.0

14.0

1.16

1.16

 

265.0

272.0

7.0

1.13

1.13

 

280.0

287.0

7.0

1.09

1.09

 

319.0

331.0

12.0

1.91

1.91

 

418.0

430.0

12.0

3.81

3.81

Lower Pillow Flow

481.0

488.0

7.0

0.88

0.88

 

DG-07-256
Gap Zone

19,000E

86.0

93.0

7.0

1.32

1.32

 

374.0

381.0

7.0

1.20

1.20

 

401.0

415.0

14.0

1.80

1.80

Lower Pillow Flow

457.0

466.0

9.0

2.49

2.49

 

DG-07-257
Gap Zone

19,000E

101.0

108.0

7.0

0.98

0.98

 

185.0

192.0

7.0

3.48

3.48

 

225.0

240.0

15.0

3.45

2.18

Lower Pillow Flow

Inc. 239.0

240.0

1.0

39.10

20.00

 

247.0

254.0

7.0

2.63

2.63

 

272.0

321.0

49.0

0.92

0.92

Lower Pillow Flow

367.0

401.0

34.0

1.48

1.43

Lower Mafic Flow

Inc. 387.0

388.0

1.0

21.63

20.00

 

463.0

475.0

12.0

0.93

0.93

 

DG-07-258
Gap Zone

18,660E

53.0

64.0

11.0

0.85

0.85

 

90.0

139.0

49.0

0.81

0.81

Lower Mafic Flow

153.0

160.0

7.0

0.85

0.85

 

173.0

187.0

14.0

1.18

1.18

 

DG-07-268
Gap Zone

18,620E

28.0

36.0

8.0

1.35

1.35

 

96.0

103.0

7.0

1.48

1.48

 

115.0

129.0

14.0

2.72

2.72

Upper Pillow Flow

140.0

147.0

7.0

0.85

0.85

 

186.0

225.0

39.0

0.86

0.86

Lower Pillow Flow

258.0

272.0

14.0

3.24

3.14

Lower Mafic Flow

Inc. 262.0

263.0

1.0

21.42

20.00

 

293.0

302.0

9.0

1.06

1.06

 

314.0

335.0

21.0

1.01

1.01

 

385.0

424.0

39.0

3.70

2.97

Lower Mafic Flow

Inc. 389.0

390.0

1.0

33.71

20.00

 

Inc. 393.0

394.0

1.0

26.02

20.00

 

Inc. 410.0

411.0

1.0

28.92

20.00

 

477.0

484.0

7.0

1.42

1.42

 

DG-07-283 Gap Zone

18,700E

43.0

50.0

7.0

0.83

0.83

 

105.0

112.0

7.0

0.69

0.69

 

DG-08-285
Gap Zone

19,040E

31.0

90.0

59.0

1.46

1.46

Lower MF/Lower PF

111.3

118.5

7.2

0.72

0.72

 

140.0

148.0

8.0

1.50

1.50

 

187.0

209.0

22.0

1.86

1.65

Lower MF

Inc. 192.0

193.0

1.0

24.60

20.00

 

231.0

238.0

7.0

6.07

3.98

CMH

Inc. 237.0

238.0

1.0

34.60

20.00

 

DG-08-289
Gap Zone

 

 

19,160E

 

 

108.0

116.0

8.0

1.81

1.81

 

169.0

176.0

7.0

1.29

1.29

 

189.0

205.0

16.0

1.04

1.04

 

257.0

270.0

13.0

1.29

1.29

 

277.0

286.5

9.5

0.73

0.73

 

DG-08-289
Gap Zone

 

 

19,160E

 

 

108.0

116.0

8.0

1.81

1.81

 

169.0

176.0

7.0

1.29

1.29

 

189.0

205.0

16.0

1.04

1.04

 

257.0

270.0

13.0

1.29

1.29

 

277.0

286.5

9.5

0.73

0.73

 

297.0

312.0

15.0

0.73

0.73

 

DG-08-290
Gap Zone

19,040E

34.0

41.0

7.0

0.77

0.77

 

79.0

94.0

15.0

1.00

1.00

 

 

 

147.8

177.0

29.2

1.57

1.57

Lower Pillow Flow

203.0

239.0

36.0

2.45

2.22

Lower PF/Lower MF

Inc. 210.0

211.0

1.0

28.40

20.00

 

252.0

260.0

8.0

2.92

2.92

 

343.0

350.0

7.0

2.35

2.35

 

365.0

387.0

22.0

0.84

0.84

 

DG-08-293
Gap Zone

19,120E

25.0

40.0

15.0

1.21

1.21

 

55.0

62.0

7.0

1.16

1.16

 

83.0

105.0

22.0

1.82

1.82

Lower PF

154.0

165.0

11.0

3.05

2.30

Lower MF

Inc. 155.0

156.0

1.0

28.30

20.00

 

180.0

188.0

8.0

1.31

1.31

 

261.5

297.0

35.5

1.12

1.12

CMH/Lower MF

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.

Forward-Looking Information

This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's planned drilling program and estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 -- "Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

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.


About Pelangio

Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. Pelangio'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 44.6% 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: info@pelangio.com

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 annual information form, Item 4.4 -- "Description of Business -- Risk Factors" filed on SEDAR 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.

 
 

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