Pelangio Exploration Completes Diamond Drilling At Manfo Project, Ghana And Provides Assay Results - Seite 2

Details of Manfo Diamond Drilling Program

A diamond drilling program was conducted on the Manfo Project between March 17 and June 19, 2023 with all assays recently received. Seven holes were drilled for a total of 1,039.5 meters to test for extensions to the known mineralization plus exploration targets around the Pokukrom deposits with four of the holes totaling 701.7 meters at Pokukrom East and three holes totaling 337.8 meters at Pokukrom West. Refer to Figure 1.

At Pokukrom West drill holes SPDD23-001 and SPDD23-002 tested for a northern extension of the Pokukrom West mineralization above hole DD21-002 which in 2021 successfully demonstrated a down-plunge continuation of Pokukrom West returning 3.19 g/t Au over 12 meters, including 6.85 g/t Au over 3 meters. The two holes did intersect alteration corresponding to the Pokukrom West zone, however gold assays were weak. Future drilling will consider testing further down-plunge of DD21-002. Drill hole SPDD23-006 tested for an extension to the high-grade oxide mineralization of Pokukrom West which was open-ended to the south intercepting 1.88 g/t Au over 13 meters, including 4.01 g/t Au over 4 meters, which could extend the resource model incrementally to the south. The oxide mineralization remains open to the south and auger drilling anomalism south of SPDD23-006 indicates additional shallow drilling further to the south is warranted. Refer to Figure 2.

At Pokukrom East two holes, SPDD23-003 AND SPDD23-004, were drilled to evaluate a strong soil anomaly with coincident auger drill hole anomalism sitting on the northwestern flank of the Pokukrom East deposit between Pokukrom East and West. The two drill holes intersected a wide zone of alteration similar to that which hosts the mineralization at Pokukrom, but disappointingly the assay results were weak. Refer to Figure 1. Holes SPDD23-007 and SPDD-008 were planned to test gaps in the historical drilling at the southern end of the Pokukrom deposit with the potential of adding to the resource model at shallow levels. Hole SPDD23-007 intersected 0.71 g/t Au over 20 meters including 1.32 g/t over 6 meters, followed by a second zone of 1.66 g/t Au over 7 meters including 8.43 g/t Au over 1 meter. Mineralization remains open down-dip in this area and there is potential to extend the modeled resource deeper here at a gold price higher than the $1,450 used in the pit optimizations in 2013. Drill hole SPDD23-008 drilled a little further to the south and at a shallower level intersected a 20 meter wide zone of moderate alteration and anomalous gold, however there was only one assay returned above the cut-off of 0.4 g/t Au. Refer to Figure 3.