Stellar AfricaGold Resumes Trading and Announces Development Strategy for Guinea and Quebec Gold Projects
MONTREAL, QUEBEC--(Marketwired - Jun 13, 2016) - Maurice Giroux, President and Chief Executive Officer of Stellar AfricaGold Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") is proud to announce that after filing financial statements for the year ended July 31, 2015, and for the quarter ending Oct. 31, 2015, and January 31, 2016 the Company have obtained from Autorité des Marchés Financiers a total revocation of the Cease Trade Order imposed on February 1, 2016.
Stellar's Management wishes to thank sincerely its shareholders for their patience and their sustained confidence demonstrated throughout that period. Given a strong recovery noticed in the gold sector, the Company will do strategic efforts to develop its Projects by consolidating current gold potential and by resuming exploration towards new discoveries. The Company also intend to consolidate its ground position through potential acquisitions of new projects in Quebec and in West Africa.
WORK PROGRAM, BALANDOUGOU PROJECT, GUINEA
Stellar will proceed with detailed metallurgical test work on the oxide ore of the B3 and B1 gold zones of the Balandougou project in Upper Guinea. As previously announced, those two mineralized structures were discovered with soil geochemistry and further defined with 165 RC drill holes totalling 9,200 metres and 3,104 metres of core drilling and 1,400 linear metres of surface trenching. In three subsequent programs, substantial gold mineralization has been intersected down to a vertical depth of 150 metres in core drilling. Continuity of oxide gold mineralisation has been tested with 165 Reverse Circulation drill holes as well as with the digging of 11 trenches totalling 1,400 linear metre.
The primary objective of the test work is to investigate the amenability of the B3 and B1 oxide ore to gold extraction using gravity separation as the sole means of gold recovery. Gravity separation is thr most environmental friendly gold extraction method as no chemical are used in the process of gold recuperation. It is also the most economical solution for the processing of surface oxide deposits.
The proposed program will consist of 3 phases:
- Trenching the central portion of the B3 zone at 50 metres interval across the mineralized structure on a strike length of 500 metres.
- Achieving extensive laboratory test work on the gold distribution and on the gravity recuperation within different fraction of oxide ore. The test will be performed at the SGS Laboratory of Bamako in Mali.
- Processing of a 15,000 tons bulk sample to polish up gravity recuperation method and demonstrate profitability.
WORK PROGRAM, OPAWICA PROJECT CHIBOUGAMAU AREA
As previously announced, an airborne Magnetic/VLF survey has been completed over the Opawica and Philibert I properties in the Chibougamau area in Quebec. An exhaustive interpretation done by MB Geosolutions inc., has outlined (8) gold and (3) Cu-rich polymetallic exploration targets. The interpretation was done by analysing current survey data in association to existing INPUT EM combined with Cu till anomalies from public data sources. Two of the copper targets are located in the Opawica South Block and one in the Philibert I Block. Four (4) gold targets are located in the Opawica North Block, three (3) in Opawica South Block and one (1) target in Philibert I Block.
In the summer program, the Company is planning a reconnaissance over Opawica and Philibert I property with an emphasis on the evaluation and sampling of the targeted area. A ground IP survey should be recommended to better outline the targets that are not outcropping. Trenching and drilling should follow during summer program over selected targets.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian mine exploration Company based in Montreal, Quebec, with operations concentrated mainly in West Africa and in Quebec.
The Company is currently developing the promising gold potential of the Balandougou project in Guinea, which is at an advanced exploration stage, as well as the Namarana project in Mali. The exploration licences held by Stellar and its partners are located entirely on the West African Birimiam Gold Belt.
In Quebec, the Company owns 100% of the Opawica, Eastmain North and South and Terrax Option, all in the Chibougamau area.
The technical content of this press release have been reviewed and approved by Dr. Pierre Trudel, a Qualified Person as defined in NI 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Maurice Giroux
President and CEO
Stellar AfricaGold Inc.
514-866-6299
514-866-8096
mgiroux.stellar@gmail.com
www.stellarafricagold.ca