“In 1998, at the bottom of the market, we saw an opportunity to buy the Detour Lake Mine and all the land around it for less then a dollar an ounce in ground. It had 1.4 million ounce resource and we bought it for a million dollars. We got Franco-Nevada to be our joint-venture partner. We envisioned it to be a big pit and as it got to be a development story, we found the right team and spun out the Detour project to Detour Gold. They built it to be the behemoth it is now.” States Ingrid Hibbard, President and CEO of Pelangio Exploration Inc. (TSXV: PX), in an interview with InvestorIntel’s Peter Clausi at PDAC 2020.
Ingrid went on to say that Detour Gold has been acquired by Kirkland Lake Gold in which she has been appointed to the Board of Directors.
About Pelangio Exploration
Pelangio acquires and explores large land packages in world-class gold belts in Canada and Ghana, West Africa. In Canada, the company is focusing on the 6.7 km2 Grenfell property located approximately 10 km from the Macassa Mine in Kirkland Lake, the Dome West property located 800 metres from the Dome Mine in Timmins, the 25 km2 Birch Lake Property located in the Red Lake Mining District and the Dalton Property located 1.5 km from the Hollinger Mine in Timmins. In Ghana, the Company is focusing on two 100% owned camp-sized properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, and the 284 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine.
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