The Dome West property, formerly controlled by Central Porcupine Mines Ltd., is a strategic land holding that is adjacent to both the former Paymaster Mine property and Goldcorp's Dome Mine (Source: Ont. Dept of Mines Map 449B, Ferguson, 1969). The Dome West property is located approximately 800 metres west of the Dome Mine (See Maps 1 and 2: Location of the Dome West property in reference to the Dome Mine and other strategically located mine properties with historical production, shown below).
Pelangio intends to evaluate a highly prospective porphyritic sill unit interpreted to extend across a substantial portion of the Dome West property at the 1000-foot elevation from the former Paymaster Mine property (Source: Ont. Dept of Mines Map 449B, Ferguson, 1969 and OGS Assessment File T-125). Upon receipt of any necessary surface access permission for exploration work on the property, the first-phase diamond drill program will begin this winter.
Terms of the Option Agreement and Work Commitment:
In order to acquire a 100% interest in the Dome West property, Pelangio must make the following cash payments and share issuances (33 1/3% to Francois Desrosiers and 66 2/3% to 6398651 Canada Inc.) and complete a total of $750,000 in exploration expenditures.
Map 1: Location of the Dome West property in reference to the Dome Mine and other strategically located mine properties
Map 2: Regional geology of the Timmins area showing the location of the Dome West and Dalton properties in relation to the Dome and Hollinger Mines