Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value.  The Company primarily operates in Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa.  Drilling is currently underway on two 100%-owned camp-sized properties: the company-making 100 km2 Manfo Property, the site of five recent near-surface, high grade and bulk tonnage, gold discoveries, and the potentially game-changing 290 km2 Obuasi Property, located four kilometres on strike and adjacent to AngloGold Ashanti’s prolific, high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897.  

Ingrid Hibbard
President, CEO and Director

Appointed President and CEO of Pelangio Mines (Pelangio Exploration’s predecessor) in 1996, Ms. Hibbard is a mining and securities lawyer by training with over 25 years of experience in the mining industry. Previously, she was in private practice having clients ranging from junior explorers to major mining companies such as Noranda Mines and Hemlo Gold Mines.  Ms. Hibbard is a director of Detour Gold.

Paul Rokeby, C.A.
Chief Financial Officer

A partner of Fuller Jenks Landau, Chartered Accountants of Timmins, Mr. Rokeby has extensive experience with junior mineral exploration companies and was previously auditor and, subsequently, controller, of Pelangio Mines. He is a member of the Institute of Chartered Accountants of Ontario (1984), the Canadian Institute of Chartered Accountants and the Canadian Tax Foundation.

Warren Bates, P.Geo
Senior Vice President Exploration

With over 25 years of experience in mining and exploration on four continents, Mr. Bates is responsible for all of Pelangio's exploration activities in Canada and Ghana, including new project generation.  Prior to joining Pelangio Mines in June 2007, he previously held senior positions at Granges, Vista Gold and St. Andrew Goldfields.

Brendan Cahill, LL.B.
Vice President Corporate Development

Prior to joining Pelangio Mines in January 2008, Mr. Cahill was an M&A and corporate securities lawyer at Davies Ward Phillips & Vineberg LLP, where he advised on corporate transactions and financings for many of Canada’s largest mining companies.

 

Board of Directors

Carl Nurmi, C.A.
Lead Director

Appointed to the Board of Pelangio Mines in March 1994, Mr. Nurmi is the owner and President of Clarke Phillips Supply, the largest distributor of safety supplies in Northern Ontario.

Peter Crossgrove

Appointed to the Board of Pelangio Mines in December 2007, Mr. Crossgrove is currently President and CEO of Excellon Resources Inc., a member of the Order of Canada, the Order of Ontario and a Harvard Fellow.  He was previously Vice Chairman and Acting CEO of Placer Dome Inc.  He is Non-Executive Co-Chairman of Detour Gold and sits on the boards of Barrick Gold, Lake Shore Gold, Excellon Resources, Lateegra Gold, Dundee REIT, Quadra Logic Technologies and several non-profit organizations.

Phillip Olson, P.Geo

Appointed to the Board of Pelangio Mines in July 1997, Mr. Olson was formerly President and Director of Titan Uranium Inc. and was also a director of Detour Gold from January 2007 until June 2010.  Previously, he held the successive positions of VP, Exploration and Corporate Development with Claude Resources Inc. He was also Chief Geologist at the Kid Creek Mine for Falconbridge and was a member of the committee for the development of National Instrument 43-101.

Arthur (Gord) Slade, P. Eng (ret)

Appointed to the Board of Pelangio Mines in March 1998, Mr. Slade holds a B. Eng. (Min) from McGill University and P. Eng. from APEO (retired).  He has had an illustrious career in mining and exploration, including a 33-year stint with Falconbridge. In his time with Falconbridge, he was the V.P. in charge of Canadian Nickel and Copper operations and president of the Canadian Nickel Division. His directorships have included: Falconbridge Copper, Pamour Porcupine Mines Ltd., Belmoral Mines Ltd. and Eldorado Nuclear Ltd.

David Mosher, B.Sc (Geo)

Appointed to the Board of Pelangio Mines in October 2003, Mr. Mosher was President and CEO of High River Gold from June 1992 until December 2008. Over the past decade, he has been active in the restructuring and refinancing of a number of junior resource companies, both private and public, and was also a director of Equinox Minerals prior to its acquisition by Barrick Gold for $7.3 billion.

Ian Shaw, C.A.

CFO of Pelangio Mines until June 2008, Mr. Shaw subsequently joined the board of Pelangio Exploration. He is Managing Director of Shaw and Associates, a firm providing financial management services to emerging smaller public companies in the mineral exploration and mining business.

The Manfo Property – A Company-Maker

Pelangio’s 100 km2 Manfo Property is located on the Seftwi greenstone belt, a relatively underexplored belt that is rapidly becoming a worthy companion to the legendary Ashanti greenstone belt.

Manfo lies on the same fault network as Newmont’s flagship mine in Ghana, Ahafo, 14 kms to the north, which hosts a rapidly growing mining operation and reserve/resource base.  The geology at Manfo bears significant similarities to what has been encountered at Ahafo.

Kinross’ Chirano Mine lies 50 kms to the south of Manfo, also on the same fault network.  Kinross acquired Chirano from Red Back Mining in 2010 as part of its $7.1bn acquisition of the company.              

Five near surface discoveries have been made at Manfo to date, all of which are open for significant expansion:

 

Pokukrom East

•             Bulk tonnage zone identified on strike in excess of 850 metres, with room for strike expansion beyond 1,000 metres.

Pokukrom West

•             Near surface high-grade zone with 100+ metre strike; open at depth.

Nfante West

•             Bulk tonnage zone identified on strike of approx. 280 metres, open to northeast and at depth, with potential for other local zones.

Nfante East

•             Early stage discovery with further drilling underway.

Nfante Central

•             Early stage discovery with further drilling underway.

 

 

Drilling, and most of our exploration, to date has focussed on less than 10% of the property.  A host of other potential targets for discovery are being identified on an ongoing basis within this area and will be developed beyond.  Tighter gridding on broad geochemical trends and geophysical surveying and analysis areas of significant hardpan cover will be used to identify further drill targets on the property:

The local producing mines on the Sefwi belt comprise a series of open pit deposits, with second-stage potential for high-grade underground deposits that can significantly augment the economics of mining operations.  Pelangio’s goal during 2011 is to continue expanding its current discoveries, while making further discoveries that will add to Manfo’s resource potential.

The Obuasi Property – Game Changing Potential

Pelangio’s 290 km2 Obuasi Property is approximately four kms downstrike from AngloGold Ashanti’s high-grade Obuasi underground gold mine, the largest vein-style deposit in the world, which has been continuously mined since 1897 (30 M oz produced; 8.9 M oz remaining in reserves; 18 M oz remaining in M+I resources (inclusive of reserve) and 11 M oz remaining in inferred resources). 

 

View an animation illustrating the location and geology of the Obuasi Property

 

The ore at the Obuasi Mine is contained within a series of shear hosted shoots, each averaging three to five million ounces of gold and plunging approximately 2,500 metres to the northeast towards our property.  The ore shoots are open at depth and are currently being mined to depths of 1,500 metres. 

Based on our understanding of the Obuasi Mine geology, our current goal is to find the near-surface expression of the next ore shoot within the boundaries of our Obuasi Property.

 

Pelangio’s Team on the Ground: Local Knowledge, Global Outlook

From 1937 until 2005, Pelangio was focussed entirely on Canada, primarily northern Ontario.  Since the Company’s move into Ghana, however, it has developed relationships throughout the local communities, mining industry and government.  The acquisition of the extremely prospective Manfo Property in mid-2010 during a booming gold market is an example of Pelangio’s unique ability to identify, negotiate and acquire large land packages in highly prospective gold belts, in this case the Sefwi greenstone belt, which also hosts the Ahafo (Newmont), Chirano (Kinross) and Bibiani (Noble Minerals) mines, as well as exploration-stage projects such as Keegan Resources’ Asumura and Edgewater Resources’ Enchi. 

Led by Senior Vice President Exploration, Warren Bates, Pelangio’s team on the ground includes:

o             Sam Torkornoo, Exploration Manager

o             Ben Pullinger, Senior Project Geologist

o             Francis Duku, Project Geologist, Manfo

o             Forson Kari Kari, Project Geologist, Obuasi

Our approach to property acquisition and exploration and our local presence affords us opportunities on properties that juniors of a similar profile seldom see.  Pelangio truly does acquire camp-sized exploration ground in world class gold belts.

Ghana is recognized as one of the most politically stable countries in Africa.  The country has now experienced two decades of democratic elections.  In 2008, the most recent election went to a run-off with the challenger winning by a narrow margin.  The subsequent smooth political transition was duly noted and further boosted Ghana’s already-positive international reputation, culminating with President Barack Obama’s visit to the country in 2009, his first official to sub-Saharan Africa.

The Ghanaian economy has received significant benefits from mining and foreign direct investment, and the legislative system is geared to foster and further the development of major mining developments in the country.  Consequently, the country has seen a number of projects receive permitting and move to production over the past decade.   

Pelangio trades on the TSX Venture Exchange under the symbol “PX”. The Company currently has 138.1 million shares issued and outstanding, with 149 million outstanding on a fully diluted basis.