 | |
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| | Wed Aug 6, 2008
Pelangio Advised of Drill Results from Detour Gold's Drilling Program at Detour Lake, Ontario | 
view PDF | (1.83 g/t over 64.0 metres and 1.33 g/t over 78.9 metres in Gap Zone)
TORONTO, Ontario (August 6, 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 Calcite and Gap Zones 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 351 holes totaling 137,702 metres (including 29 holes abandoned for 2,401 metres and deepening of 9 holes for 1,439 metres). Prior to the mineral resource update of July 2, 2008, the Company had reported 187 holes totaling 68,428 metres (including 15 holes abandoned for 1,290 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 Additional Mineralization
West of Calcite Zone and Wide Gold Intersections in the Gap Zone of its
Detour Lake Project in Northern Ontario
(1.83 g/t over 64.0 metres and 1.33 g/t over 78.9 metres in Gap Zone)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the first drill results since its mineral resource update of July 2, 2008 at the Detour Lake property in northern Ontario. The Company received assays for 21 holes in the Calcite and Gap Zones from its ongoing Phase II drilling program.
The Company started Phase II drilling in July 2007 and thus far has completed 351 holes totaling 137,702 metres (including 29 holes abandoned for 2,401 metres and deepening of 9 holes for 1,439 metres). Prior to the mineral resource update, the Company had reported 187 holes totaling 68,428 metres (including 15 holes abandoned for 1,290 metres). There are four (4) active drill rigs on site.
Results from an additional 11 holes drilled at the western end of the Calcite Zone are indicating additional gold mineralization within the US$700 pit shell, which will positively impact the final pit design (lower strip ratio) and resource base. Of importance, significant gold mineralization was encountered at the contact between the massive and pillow flows in holes DG-08-321 with 1.21 g/t over 47.0 metres and DG-08-326 with 1.37 g/t (cut) over 32 metres on section 18,020E, and in holes DG-08-313 with 1.43 g/t (cut) over 38.0 metres and DG-08-318 with 2.54 g/t (cut) over 19.0 metres on section 18,060E.
Detour Gold received results from 10 holes drilled in the Gap Zone (between sections 18,920E and 19,240E), mostly testing the extent of the mineralized corridor to the north (hanging wall). Results continue to show excellent continuity of the gold mineralization within the core of the corridor, especially along the lower massive and pillow flow contact.
The best mineralized (uncut) intervals encountered are shown below.
Calcite Zone |
DG-08-292 |
DG-08-302 |
DG-08-313 |
DG-08-318 |
10.12 g/t over 7.0 m |
9.09 g/t over 22.0 m |
5.01 g/t over 10.0 m
1.43 g/t over 38.0 m |
3.44 g/t over 18.0 m
2.81 g/t over 19.0 m |
DG-08-321 |
|
|
|
3.94 g/t over 16.0 m
1.21 g/t over 47.0 m |
|
|
|
|
|
|
|
Gap Zone |
|
|
|
DG-08-286 |
DG-08-308 |
DG-08-337 |
DG-08-315 |
12.85 g/t over 8.0 m |
2.06 g/t over 29.5 m |
1.33 g/t over 78.9 m |
1.83 g/t over 64.0 m |
|
16.73 g/t over 9.8 m |
1.38 g/t over 49.0 m |
|
|
9.89 g/t over 12.0 m |
3.60 g/t over 37.0 m |
DG-08-320 |
|
|
|
1.90 g/t over 38.0 m |
Approximately 7,770 metres remain to be drilled for the Phase II program which will total nearly 143,000 metres (initially planned for 135,000 metres). The Phase III program of 30,000 metres is underway with approximately 3,970 metres completed as of the end of July 2008.
On July 2, 2008, Detour Gold reported a mineral resource update based on a detailed engineered pit design using a preliminary mine schedule at a mining rate of 30,000 tpd operation for the first few years and increasing to 60,000 tpd thereafter. The base case reported (using a gold price of US$700 per ounce) contained 10.8 million ounces of gold in the measured and indicated categories and 2.4 million ounces of gold in the inferred category (refer to press release dated July 2, 2008).
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/s/LatestDrillResults.asp or 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.
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 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
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-08-286 |
19,040E |
16.2 |
26.0 |
9.8 |
1.76 |
1.76 |
|
(Gap Zone) |
|
70.0 |
77.0 |
7.0 |
1.04 |
1.04 |
|
|
|
341.0 |
348.0 |
7.0 |
1.27 |
1.27 |
|
|
|
398.0 |
406.0 |
8.0 |
12.85 |
2.16 |
Lower Pillow Flow |
|
|
Inc. 398.0 |
398.5 |
0.5 |
191.02 |
20.00 |
|
|
|
422.0 |
432.0 |
10.0 |
1.15 |
1.15 |
|
|
|
442.0 |
462.0 |
20.0 |
1.31 |
1.31 |
Lower Mafic Flow |
|
|
493.0 |
529.0 |
36.0 |
0.74 |
0.74 |
Lower Mafic Flow |
DG-08-292 |
18,060E |
237.0 |
244.0 |
7.0 |
10.12 |
3.05 |
CMH |
(Calcite Zone) |
|
Inc. 240.0 |
241.0 |
1.0 |
69.52 |
20.00 |
|
DG-08-296 |
17,980E |
207.0 |
215.0 |
8.0 |
1.65 |
1.65 |
|
(Calcite Zone) |
|
281.0 |
288.0 |
7.0 |
1.23 |
1.23 |
|
|
|
299.0 |
312.0 |
13.0 |
1.39 |
1.39 |
|
DG-08-302 |
17,940E |
77.0 |
99.0 |
22.0 |
9.09 |
0.99 |
Lower Mafic Flow |
(Calcite Zone) |
|
Inc. 96.5 |
97.0 |
0.5 |
376.39 |
20.00 |
|
|
|
133.0 |
140.0 |
7.0 |
1.64 |
1.64 |
|
|
|
369.0 |
380.0 |
11.0 |
0.92 |
0.92 |
|
DG-08-308 |
19,080E |
39.0 |
58.0 |
19.0 |
0.68 |
0.68 |
|
(Gap Zone) |
|
177.0 |
203.0 |
26.0 |
0.80 |
0.80 |
|
|
|
252.0 |
275.0 |
23.0 |
1.23 |
1.23 |
Lower Pillow Flow |
|
|
347.0 |
359.0 |
12.0 |
1.39 |
1.39 |
|
|
|
372.5 |
402.0 |
29.5 |
2.06 |
2.06 |
Lower Pillow Flow |
|
|
413.0 |
422.0 |
9.0 |
3.80 |
3.80 |
Mafic Flow |
|
|
438.0 |
445.0 |
7.0 |
1.18 |
1.18 |
|
|
|
459.2 |
469.0 |
9.8 |
16.73 |
2.55 |
Lower Pillow Flow |
|
|
Inc. 466.0 |
466.5 |
0.5 |
22.45 |
20.00 |
|
|
|
Inc. 466.5 |
467.0 |
0.5 |
295.63 |
20.00 |
|
|
|
489.0 |
501.0 |
12.0 |
9.89 |
7.18 |
Lower Pillow Flow |
|
|
Inc. 491.0 |
492.0 |
1.0 |
28.80 |
20.00 |
|
|
|
Inc. 492.0 |
493.0 |
1.0 |
26.40 |
20.00 |
|
|
|
Inc. 494.0 |
495.0 |
1.0 |
37.30 |
20.00 |
|
DG-08-312 |
19,120E |
216.0 |
227.0 |
11.0 |
0.98 |
0.98 |
|
(Gap Zone) |
|
490.0 |
500.0 |
10.0 |
0.85 |
0.85 |
|
|
|
516.0 |
530.0 |
14.0 |
0.77 |
0.77 |
|
|
|
569.0 |
576.0 |
7.0 |
1.73 |
1.73 |
|
DG-08-313 |
18,060E |
224.0 |
234.0 |
10.0 |
5.01 |
3.27 |
Upper Mafic Flow |
(Calcite Zone) |
|
Inc. 225.0 |
225.5 |
0.5 |
54.84 |
20.00 |
|
|
|
275.0 |
283.0 |
8.0 |
1.39 |
1.39 |
|
|
|
317.0 |
355.0 |
38.0 |
1.43 |
1.43 |
Lower Pillow Flow |
|
|
364.0 |
371.0 |
7.0 |
1.16 |
1.16 |
|
DG-08-315 |
19,160E |
97.0 |
108.2 |
11.2 |
1.06 |
1.06 |
|
(Gap Zone) |
|
152.0 |
167.0 |
15.0 |
1.13 |
1.13 |
|
|
|
180.0 |
189.0 |
9.0 |
0.97 |
0.97 |
|
|
|
313.0 |
325.0 |
12.0 |
0.91 |
0.91 |
|
|
|
342.0 |
406.0 |
64.0 |
1.83 |
1.73 |
Lower Pillow Flow |
|
|
Inc. 369.0 |
370.0 |
1.0 |
26.70 |
20.00 |
|
|
|
436.0 |
443.0 |
7.0 |
1.10 |
1.10 |
|
|
|
453.0 |
471.0 |
18.0 |
1.12 |
1.12 |
|
|
|
482.0 |
489.0 |
7.0 |
2.28 |
2.28 |
|
DG-08-318 |
18,060E |
316.0 |
323.5 |
7.5 |
1.69 |
1.69 |
|
(Calcite Zone) |
|
335.0 |
353.0 |
18.0 |
3.44 |
1.93 |
Lower MF/PF |
|
|
394.0 |
413.0 |
19.0 |
2.81 |
2.54 |
Lower Mafic Flow |
|
|
Inc. 411.0 |
411.5 |
0.5 |
30.28 |
20.00 |
|
DG-08-320 |
19,040E |
91.0 |
111.0 |
20.0 |
0.80 |
0.80 |
|
(Gap Zone) |
|
333.0 |
352.0 |
19.0 |
1.05 |
1.05 |
|
|
|
400.0 |
413.0 |
13.0 |
0.71 |
0.71 |
|
|
|
475.0 |
487.0 |
12.0 |
1.21 |
1.21 |
|
|
|
528.0 |
544.0 |
16.0 |
2.47 |
2.46 |
Lower Pillow Flow |
|
|
Inc. 529.0 |
530.0 |
1.0 |
20.10 |
20.00 |
|
|
|
553.0 |
560.0 |
7.0 |
1.23 |
1.23 |
|
|
|
583.0 |
621.0 |
38.0 |
1.90 |
1.52 |
Lower Pillow Flow |
|
|
Inc. 614.5 |
615.5 |
1.0 |
33.36 |
20.00 |
|
|
|
Inc. 620.0 |
620.5 |
0.5 |
22.27 |
20.00 |
|
DG-08-321 |
18,020E |
165.0 |
172.0 |
7.0 |
4.95 |
3.40 |
Upper Mafic Flow |
(Calcite Zone) |
|
Inc. 168.0 |
169.0 |
1.0 |
30.86 |
20.00 |
|
|
|
183.0 |
199.0 |
16.0 |
3.94 |
2.58 |
Pillow Flow |
|
|
Inc. 189.0 |
190.0 |
1.0 |
41.70 |
20.00 |
|
|
|
312.0 |
330.0 |
18.0 |
0.69 |
0.69 |
|
|
|
360.0 |
377.0 |
17.0 |
1.94 |
1.94 |
|
|
|
393.0 |
440.0 |
47.0 |
1.21 |
1.21 |
Lower Pillow Flow |
DG-08-322 |
19,200E |
125.0 |
138.0 |
13.0 |
0.85 |
0.85 |
|
(Gap Zone) |
|
160.0 |
172.0 |
12.0 |
0.83 |
0.83 |
|
|
|
329.0 |
346.0 |
17.0 |
1.58 |
1.58 |
Mafic Flow |
|
|
366.5 |
379.0 |
12.5 |
1.60 |
1.60 |
|
|
|
389.0 |
397.0 |
8.0 |
1.18 |
1.18 |
|
|
|
428.0 |
438.0 |
10.0 |
1.00 |
1.00 |
|
|
|
457.0 |
474.0 |
17.0 |
1.58 |
1.58 |
Lower Pillow Flow |
|
|
511.0 |
518.0 |
7.0 |
1.69 |
1.69 |
|
DG-08-325 |
17,980E |
192.0 |
206.0 |
14.0 |
1.08 |
1.08 |
|
(Calcite Zone) |
|
316.0 |
326.0 |
10.0 |
1.98 |
1.98 |
|
|
|
362.0 |
382.0 |
20.0 |
1.92 |
1.92 |
Lower Pillow Flow |
|
|
415.0 |
429.0 |
14.0 |
2.18 |
2.18 |
Lower Pillow Flow |
DG-08-326 |
18,020E |
42.0 |
50.0 |
8.0 |
1.39 |
1.39 |
|
(Calcite Zone) |
|
142.0 |
154.0 |
12.0 |
1.42 |
1.42 |
|
|
|
210.0 |
230.0 |
20.0 |
1.24 |
1.24 |
|
|
|
254.0 |
269.0 |
15.0 |
1.10 |
1.10 |
|
|
|
283.0 |
315.0 |
32.0 |
1.37 |
1.37 |
Lower Pillow Flow |
|
|
329.0 |
336.0 |
7.0 |
1.01 |
1.01 |
|
|
|
364.0 |
383.0 |
19.0 |
1.17 |
1.17 |
Lower Mafic Flow |
DG-08-329 |
19,240E |
11.0 |
28.0 |
17.0 |
0.74 |
0.74 |
|
(Gap Zone) |
|
52.0 |
64.0 |
12.0 |
0.87 |
0.87 |
|
|
|
|
263.0 |
306.0 |
43.0 |
1.09 |
1.09 |
Upper Mafic Flow |
|
|
317.0 |
345.0 |
28.0 |
0.85 |
0.85 |
|
|
|
359.0 |
366.0 |
7.0 |
1.78 |
1.78 |
|
DG-08-330 |
19,000E |
53.0 |
60.0 |
7.0 |
5.71 |
2.87 |
Upper Mafic Flow |
(Gap Zone) |
|
Inc. 54.0 |
55.0 |
1.0 |
39.83 |
20.00 |
|
|
|
517.0 |
528.0 |
11.0 |
1.43 |
1.43 |
|
DG-08-333 |
17,980E |
175.0 |
182.0 |
7.0 |
3.23 |
3.07 |
|
(Calcite Zone) |
|
Inc. 177.0 |
178.0 |
1.0 |
21.10 |
20.00 |
|
|
|
252.0 |
261.0 |
9.0 |
0.89 |
0.89 |
|
|
|
374.0 |
381.0 |
7.0 |
2.05 |
2.05 |
|
|
|
390.0 |
400.0 |
10.0 |
1.41 |
1.41 |
|
DG-08-334 |
17,940E |
267.0 |
274.0 |
7.0 |
2.73 |
2.73 |
|
(Calcite Zone) |
|
318.0 |
334.2 |
16.2 |
2.49 |
1.67 |
Mafic Flow |
|
|
Inc. 318.0 |
318.5 |
0.5 |
46.34 |
20.00 |
|
|
|
363.0 |
384.0 |
21.0 |
1.02 |
1.02 |
|
DG-08-337 |
19,240E |
39.0 |
117.9 |
78.9 |
1.33 |
1.33 |
Pillow Flow |
(Gap Zone) |
|
129.0 |
148.0 |
19.0 |
1.27 |
1.27 |
|
|
|
180.0 |
229.0 |
49.0 |
1.38 |
1.38 |
Pillow Flow |
|
|
238.0 |
245.0 |
7.0 |
1.29 |
1.29 |
|
|
|
361.0 |
398.0 |
37.0 |
3.60 |
2.63 |
Lower PF/MF |
|
|
Inc. 370.0 |
370.5 |
0.5 |
41.20 |
20.00 |
|
|
|
Inc. 370.5 |
371.0 |
0.5 |
40.51 |
20.00 |
|
|
|
Inc. 371.0 |
371.5 |
0.5 |
38.57 |
20.00 |
|
|
|
Inc. 371.5 |
372.0 |
0.5 |
31.80 |
20.00 |
|
|
|
424.0 |
434.0 |
10.0 |
2.07 |
2.07 |
|
|
|
520.0 |
537.0 |
17.0 |
1.25 |
1.25 |
|
DG-08-338 |
18,020E |
65.0 |
72.0 |
7.0 |
4.25 |
3.61 |
Upper Mafic Flow |
(Calcite Zone) |
|
Inc. 65.0 |
66.0 |
1.0 |
24.52 |
20.00 |
|
|
|
89.0 |
113.0 |
24.0 |
0.83 |
0.83 |
|
|
|
130.0 |
137.0 |
7.0 |
1.38 |
1.38 |
|
|
|
275.0 |
282.0 |
7.0 |
1.43 |
1.43 |
|
|
|
383.0 |
395.0 |
12.0 |
1.91 |
1.91 |
|
DG-08-339 |
18,920E |
200.0 |
220.0 |
20.0 |
1.08 |
1.08 |
|
(Gap Zone) |
|
|
|
|
|
|
|
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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