Pelangio Exploration PX.V, came up with a second set of great results from a property that they recently optioned in early August. What is exciting about this set of results is that they were 5km from the 1st set of results making this property much more prospective for multiple godl zone discoveries. They first initially announced 1.5 g/t gold over 61 meters in the first target they drilled as well as 40 meters of mineralization grading 0.91 g/t gold. They then proceeded to start drilling on a different target on the property and hit 8.6 g/t gold over 12 meters and 8.0 g/t gold over 12 meters.
This is a great set of results on the second target drilled to date. They have 2 stepout holes with assays pending from the 2nd target as well as drilling on even more prospective targets which makes this quite an exciting new exploration project in Ghana. What is great about PX's new Manfo project in Ghana is that they haven't even drilled the most prospective parts of the property.
Just like the Yukon White Gold District where the properties are covered in extensive overburden, so is much of PX's Manfo property in Ghana. Gold in soil anomalies have been very effective in exploring properties with such conditions and Pelangio has not even tested the largest and most highly concentrated anomalies. Where they tested and hit the high grade section. is in a much smaller anomaly just to the west of a large and intense 1km x 5oom gold in soil anomaly where they are currently drilling 5 holes totaling 881 meters.
They are also drilling another larger and more intense gold in soil anomaly just east of the original discovery September 9th of 1.5 g/t over 61 meters. There is a lot of good things happening at this new Manfo project for Pelangio in Ghana and are situated in between Newmont's mine Ahafo to the north and Red Backs mine Chirano, 50km to the south. With results like this from initial drilling with PX's market cap still being under $1ooM and the best of the prospects yet to be drilled? PX could be a huge winner with the trend for OX jsut starting. At .76 the PX will be breaking out to all time highs and at that point with the excitement of a new major discovery... the sky is the limit. It is not to say that PX is on to something big yet as they need to follow up these results with more great results, but Pelangio Exploration entered the radar screen in a big way last week and is worth a shot in anyone's spec portfolio.
Click the link below to take a look at the Manfo Property and the extensive gold in soil anomalies and drill hole location.
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