Canadian Mining Expo Timmins Presentation - June 2019 Acquiring and Exploring Camp Sized Properties in Ontario, Canada and - Pelangio Exploration Inc.
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Canadian Mining Expo
Timmins Presentation
June 2019
Acquiring and Exploring Camp Sized
Properties in Ontario, Canada and
Ghana, West Africa
PX : TSX-V
Disclaimer
Cautionary Note Regarding Mineral Resource Estimates
Investors should not assume that any of the indicated or inferred resource disclosed cautioned not to assume that any part or all of the mineral resources disclosed above
herein will ever be upgraded to a higher category of mineral resource or to mineral will ever be converted into SEC defined mineral reserves. Further, “inferred mineral
reserves and that any or all of the indicated or inferred mineral resource exist or is or resources” have a great amount of uncertainty as to their existence and as to whether
will be economically or legally feasible to mine. In addition, investors should not they can be mined legally or economically. In accordance with Canadian rules
assume that any of the references herein to adjacent properties (based on public estimates of inferred mineral resources generally cannot form the basis of an economic
information) is necessarily indicative of the mineralization on the Manfo property or that analysis.
further exploration on the Manfo property will prove to be successful.
The words “plans”, “expects”, “is expected”, “budget”, “projects”, “scheduled”,
The disclosure herein uses mineral resource classification terms that comply with “estimates” “forecasts”, “intends”, “anticipates”, or “believes” or variations (including
reporting standards in Canada and the disclosure of mineral resource estimates are negative variations) of such words and phrases, or statements that certain actions,
made in accordance with National Instrument 43-101 – Standards of Disclosure for events, or results “may”, “could”, “would”, “might”, or “will” occur are all forward-
Mineral Projects. NI 43-101 is a rule developed by the Canadian Securities looking statements. Forward-looking statements are based on the reasonable
Administrators that establishes standards for all public disclosure an issuer makes of assumptions, estimates, analysis and opinions of management made in light of its
scientific and technical information concerning mineral projects that are considered experience and perception of trends, current conditions and expected developments, as
material to the issuer. well as other factors that management believes to be relevant and reasonable at the
date that such statements are made. Forward-looking statements involve known and
The exploration programs in Ghana are overseen by Warren Bates, P. Geo, a
unknown risks, uncertainties, assumptions and other factors that may cause actual
Qualified Person as defined by the Canadian Securities Administrators’ National
results, performance or achievements of the Company to be materially different from
Instrument 43-101. Mr. Bates has verified and approved the data disclosed in this
any future results, performance or achievements expressed or implied by the forward-
presentation.
looking statements. Forward-looking statements contained herein are made as of the
The exploration programs in Ontario are overseen by Kevin Filo, P. Geo., a Qualified date indicated on the title page. There can be no assurance that forward-looking
Person as defined by the Canadian Securities Administrators’ National Instrument 43- statements will prove to be accurate, as actual results and future events could differ
101. Mr. Filo has verified and approved the data disclosed in this presentation materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on the forward-looking statements in this document. The Company
All resource estimates contained herein are based on the definitions adopted by CIM
does not undertake to update any forward-looking statements in this document except
and recognized under NI 43-101. These standards differ significantly from the mineral
as required by applicable securities laws.
reserve disclosure requirements of the U.S. Securities and Exchange Commission set out
in Industry Guide 7. Consequently, resource information contained in this press release
is not comparable to similar information that would generally be disclosed by U.S.
companies in accordance with the rules of the SEC. The SEC’s Industry Guide 7 does
not recognize mineral resources and US. companies are generally not permitted to
disclose mineral resources in documents they file with the SEC. Investors are specifically
2 PX:TSX-V
Where There is History - There is Potential
Dome West – Dalton Obuasi – Manfo
ONTARIO GHANA
Canada West Africa
Dome West Property – strategically Obuasi Project – high-grade intercepts
located ~ 800 metres west of the located ADJACENT TO AND ON
Dome Mine – one of the largest STRIKE WITH the GIANT world class
gold producers in the Timmins camp Obuasi Mine
Dalton Property – located in the Manfo Project – mineral resource of
Timmins mining camp, 1.5 km from the 195,000 oz (at 1.5 g/t Au) Indicated,
19 Moz Hollinger Mine 298,000 oz (at 1.0 g/t Au) Inferred
Birch Lake Property – adjacent to and located 14 km from Newmont’s
First Mining’s Springpole Gold Ahafo Mine
Project
Location! – Location! – Location!
3 PX:TSX-V
Canadian Properties
Strategic Land Holdings
Three Ontario Focus Projects
Dome West – .56 Sq. Km, Porcupine Mining District - Timmins
Located 800 metres west of Goldcorp’s Dome Mine, one of the camps’
largest and well known gold producers
Adjacent to both the Dome Mine and the Paymaster Mine properties
Dalton – 3.5 Sq. Km, Porcupine Mining District - Timmins
Located 1.5 km from the Hollinger Mine on the Abitibi Greenstone belt
The Destor Porcupine fault is also 2 km from the property
Birch Lake – 25 Sq. Km, Red Lake Mining District
Historical high-grade intercepts:
- 34.54 g/t Au over 9.85m, including 113.94 g/t Au over 2.95m
Adjacent to First Mining’s Springpole Gold Project
5 PX:TSX-V
Canada – Dome West and Dalton Properties,
Timmins Ontario
• Dome West is located
Dome West approximately 800
Hollinger Mine Property metres west of the Dome
(19.3 Million
Ounce Au) Dome Mine Mine
(13.6 Million
Dalton
Ounce Au) • Dalton is located
Property approximately 1.5 km
from the 19.3 million oz
Hollinger Mine
• The Timmins camp is one
of the most significant
mining regions in
Strategically located close to mine properties with
Canada
historical production
6 PX:TSX-V
Dome West and Dalton – Regional Geology
Proximity to the Dome and Hollinger Mines
B ur
row
Two of Pelangio’s
s
Be n
more strategic
edic
properties
t Fa
Timmins City Centre MCINTYRE MINE
Matta
10.8 Moz Au
ult
Dome West Property
Dalton Property
DOME WEST PROPERTY
543 metres drilling
g
DALTON PROPERTY HOLLINGER MINE
ami R
19.4 Moz Au DOME MINE
completed at
MONETA MINE
CROWN MINE 13.6 Moz Au
iver F
PAYMASTER MINE
DALTON
PRESTON MINE
Dome West – P1
target
ault
AUNOR
WEST
OGDEN DELNITE MINE
r
esto
BUFFALO ANKERITE
D
i ne e
r cup lt Zon
Airborne Survey
BOW TIE
DE SANTIS MINE
o
P Fau
NABOB MINE
target
DELNOR
HUNTER
ODYSSEY
LYNX
development
SLADE
Figure 6 completed at
Tahoe Timmins Mine
Pelangio Exploration Inc. Dalton
0 1 2 4 Regional Geology
Reference: 0 1.75 3.5 7 Kilometers Timmins Area
OGS Map 2555, Pyke,D.,1982
7 PX:TSX-V
Date: January, 2019 File: timmins_PX_regionalgeol.mxd
km Name: KF Projection: UTM NAD83 Zone 17N
Dome West Location
Access via Goldcorp’s Dome Mine Surface Holdings
Acquired in January 2019
Initial review of available
TARGET V1 historical data completed
Two main target areas of interest
identified:
• highest priority target is
TARGET P1 Target P1, a highly
prospective porphyritic sill
unit interpreted to extend
across a substantial portion of
the Dome West property at
the 1000-foot elevation
• A second target area of
interest is Target V1, present
in the central portion of the
property where government
geologists have documented
a historical shaft and a small
adit associated with quartz
veins in outcrop
8 PX:TSX-V
Dalton – Geology
Proximity to the Giant Hollinger Mine
• The western and eastern extremities of the
Hollinger Mine property are covered by Tisdale Group volcanics
(19.3 Million Ounce Au)
• Minimal exploration completed since the 1940’s
• Recent sampling of historical core observed
substantial alteration and sulphide mineralization
• Some surface pits and trenches suggest a very
prospective environment for gold mineralization
Dalton Property
9 PX:TSX-V
Veining on Dalton • Quartz Veins hosted in distinct multiple east-west shear structures PX:TSX-V 10
Proximity of Birch Lake to Springpole
and Goldcorp Red Lake Deposits
Birch Lake Property hosts the
Birch Lake High Grade Island Deformation
zone, a 70m wide, steeply
dipping deformation corridor
Springpole Deposit
Neighbouring First Mining Gold
First Mining
Corp.’s Springpole Deposit has an
indicated resource of 139.1 Mt
at 1.04 g/t Au, and 5.4 g/t Ag,
containing 4.67 Moz Au and
24.190 Moz Ag
Red Lake Camp A compelling story with the
recent acquisition of strategically
located claims surrounding the
Birch Lake Property
11 PX:TSX-VCanada - Birch Lake, Red Lake District
Keigat Lake Area Claims were recently
Hole 096 34.54 g/t Au over 9.85m acquired through the acquisition of 5SD Capital.
Incl. 113.94 g/t Au over 2.95m
They surround Pelangio’s Birch Lake Project which
includes High Grade Island and Keigat Island
Four additional historical gold occurrences on the
Keigat Lake Area Claims
Neighbouring First Mining Gold Corp.’s
Springpole Deposit has an indicated resource of
139.1 Mt at 1.04 g/t Au, and 5.4 g/t Ag,
containing 4.67 Moz Au and 24.190 Moz Ag
Source: First Mining Gold Corp Springpole Gold Project PEA
Technical Report June 6, 2017
Disclaimer: The mineralization hosted on the Springpole Property
is not necessarily indicative of the mineralization on the
Company’s Birch Lake Project
12Geology of High Grade Island
Hole 064 Hole 096 34.54 g/t Au over 9.85m
7.08 g/t Au over 4.4m incl 113.94 g/t Au over 2.95m
Hole 097: 244.73 g/t Au over 2.45m
Hole 074
8.7 g/t Au over 4.2m
Hole 078
105.3 g/t Au over 2.0m
Hole 090
52.08 g/t Au over 2.0m
13Type Section
for Drilling
14 PX:TSX-VSandy Point
BIF Target
PX:TSX-V 15Project Generator
Joint Ventures
16 PX:TSX-VMontcalm Battery
Metals Project
17 PX:TSX-VGeneral
Geological
Map of
Montcalm
Area
PX:TSX-V 18Lynn Lake Gabbro Hosted Model Comparison PX:TSX-V 19
Geological Map Adjacent Montcalm Mine PX:TSX-V 20
Gowan JV 21 PX:TSX-V
Gowan General
Geological Map
22 PX:TSX-VGowan
Compilation
Map
23 PX:TSX-VCanadian Exploration
Dome West Dalton
Diamond Drilling P1 Target – 543 metres Sampling, Assaying, Geophysics and
Diamond Drilling
PLAN Evaluate by diamond drilling:
• Prospective porphyritic sill unit PLAN Multi-phase program of:
interpreted to extend across a • airborne geophysics
substantial portion of the • 4-6 diamond holes (1,000-
Dome West property 1,500m)
COST $100,000 to $125,000 COST $75,000 to $225,000
24 PX:TSX-VAfrican Properties
Ghana Properties
Obuasi Project - 284 Sq. Km
Adjacent to the giant Obuasi Gold Mine, 60+ million ounce
gold endowment
AngloGold Ashanti is currently redeveloping the Obuasi
Gold Mine and states: “Obuasi…a world class resource
with a century of history”
High-grade intercepts:
- 24.5 g/t Au over 1m and 11.28 g/t Au over 2m
- Evidence of “Obuasi Style” mineralization
Manfo - 100 Sq. Km
Maiden resource of:
- 195,000 oz (at 1.5 g/t Au) Indicated
- 298,000 oz (at 1.0 g/t Au) Inferred
on 3 of 7 mineralized areas along 9 km trend
26 PX:TSX-VObuasi
Location in Relation to the Giant Obuasi Mine
100% interest
(subject to 10% gov’t interest)
The giant Obuasi vein-type orogenic
deposit is hosted in sheared graphitic PG11-NGT-121
1m @ 24.50 g/t
argillites and mafic rocks of the Birimian, PG11-NGT-122
to the northwest of the Tarkwaian-Birimian 2m @ 11.28 g/t
contact
Two major structures have been identified
on Pelangio ground:
- Northern structure is concordant with
the principal Obuasi Deposit structure
- A second splay structure along the PG11-NGT-119
Birimian-Tarkwaian contact, on which 2m @ 3.06 g/t
Pelangio drilled two high-grade holes,
is now the target of further work Obuasi Mine
27 PX:TSX-VObuasi
Regional Geology, Mines and Exploration Targets
Geophysics
VTEM-EM conductivity, maps out structures
in sheared argillite
PG11-NGT-121
Obuasi mine geology was identified in 1m @ 24.50 g/t
PG11-NGT-122
NGA region during last drill campaigns of 2m @ 11.28 g/t
2012
Drill targeting based on recent review of
geophysics & geochemistry ongoing
Obuasi Gold Mine Project Key Metrics:
Average grade 8.8 g/t Au, 5.9 Moz reserve, PG11-NGT-119
36 Moz resource 2m @ 3.06 g/t
Obuasi Mine ore bodies are located within
Ashanti regional shear over 13km strike length Obuasi Mine
Source: HSBC GEMS Investor Forum Sept 2018
28 PX:TSX-VObuasi
North Government Target
Last Obuasi drill campaign discovered
high-grade vein–hosted visible gold
mineralization in sheared graphitic
argillites
Drill holes PG11-NGT-121 and PG11-NGT-
122 intersected 1m of 24.50 g/t gold and
2m of 11.28 g/t gold respectively
Gold mineralization is associated with
Obuasi style alteration
Soil campaign post drilling discovered
seven areas with greater than 200ppb
gold between 200m to 800m in strike
length
29 PX:TSX-VManfo
Sefwi Belt: 33 Gold Deposits (20+ Million Oz)
Gold deposits are associated with north to northeast trending
major faults that bound each terrain
62 known gold occurrences in the Sefwi Belt
100 sq. km on Ghana’s prodigious Sefwi Greenstone Belt - 14 km
from Newmont’s flagship Ahafo Mine with geological
characteristics similar to the largest deposit at Ahafo, Subika, and
50 km from Kinross’ Chirano Mine
4 main Sefwi gold camps: Ahafo North, Ahafo South, Bibiani and
Chirano
Gold mineralization is associated with major terrain bounding
faults which occur along the greenstone belt margins
30 PX:TSX-VManfo
Three Resource Areas
9 km geochemical trend, multiple structures
3 areas at initial resource stage: Pokukrom East
and West, Nfante West
7 near surface discoveries since August 2010
Received maiden resource estimate from SRK of:
195,000 oz (at 1.5 g/t Au) Indicated,
298,000 oz (at 1.0 g/t Au) Inferred in 2013
Multiple geochemical and geophysical targets
remain to be assessed
31 PX:TSX-VManfo
Pokukrom Pit Shells and Block Model Looking East
MANFO
+1.0 g/t block model shown @ $1,450 gold
Mineralization below pit not tabulated in this estimate
175 m depth is pit bottom
Metallurgical testing - gold recovery 86% from sulphide and 94% from oxide 32 PX:TSX-VSuccess Through Exploration
…IT’S OUR MISSION
CONTACT
Ingrid Hibbard, President & CEO Email: info@pelangio.com
Pelangio Exploration Inc. Tel: 905-336-3828
www.pelangio.com
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