Tuesday, 23rd January 2007 (2334 views)

Additional exploration results received by Pelangio Mines are continuing to display the potential for further gold zones at the Obuasi gold property in Ghana.

The concession which is situated adjacent to the Obuasi gold mine owned by AngloGold Ashanti is currently the focus of surface exploration work that the company is undertaking in preparation of a drilling programme in the latter half of 2007.

Describing the current progress at the site as "encouraging", Pelangio has made strides into determining the nature of the mineralisation at the Obuasi gold property.

Pelangio is focusing on extending the main section of the mine at Obuasi, as well as Gyabunsu structural trends and a target newly identified that is located four kilometres away from the Chirebroso gold deposit.

Obuasi comprises four separate concessions which stretch over a distance of 411 sq m and the company will be hoping that the site proves to be as fruitful as AngloGold Ashanti's nearby property which has historically yielded more than 30 million ounces of gold.

 

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