P10(US:PX) Newsfileยท2025-09-10 20:30Core Insights - Pelangio Exploration Inc. has filed an updated independent Mineral Resource Estimate (MRE) for its Manfo Gold Project in Ghana, indicating significant increases in both Indicated and Inferred resources compared to previous estimates [2][5]. Mineral Resource Update - The updated MRE, completed by SEMS Technical Services Ltd., shows a total Indicated resource of 11,787,000 tonnes at an average grade of 1.16 g/t Au, equating to 441,000 ounces of gold, and a total Inferred resource of 16,048,000 tonnes at an average grade of 0.77 g/t Au, equating to 396,000 ounces of gold [4][6]. - The MRE was conducted using a gold price of US$2,600 per ounce, with specific cut-off grades for different mineralization types [4]. Comparison with Previous Estimates - The 2025 MRE represents a 126% increase in total Indicated gold ounces and a 395% increase in total Inferred gold ounces compared to the Maiden pit-constrained MRE, which was based on a gold price of US$1,450 per ounce [5][8]. Exploration Plans - The company plans a staged exploration program with a budget of US$7.6 million, including up to 45,000 meters of drilling, aimed at resource expansion and new discoveries [6][14]. - Exploration programs are currently underway, with high-resolution UAV magnetics and orthophoto surveys nearing completion, and drilling expected to commence in November 2025 [6][14]. Resource Growth Potential - There is significant potential for resource growth, particularly in the Inferred category, with recommendations for further drilling to upgrade resources and explore open-ended mineralization [9][10]. - The addition of the Nkosuo Mining Permit is believed to hold potential for further discoveries, with historical exploration indicating extensions of mineralized structures into the Nkosuo Lease [11].