Business
Stellar AfricaGold Corporate Update
(via TheNewswire) Vancouver, BC - TheNewswire - March 17 , 2020 - John Cumm...
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"Stellar AfricaGold Corporate Update(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - March 17, 2020 - John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSXV:SPX) (\"Stellar\" or the \"Company\") announces:\n\n \n \nDespite the impacts of the global pandemic public health emergency on the financial markets and our personal lives, Stellar is fortunate to be able to report that the Company is in solid financial condition as a result of the October 2019 sale of the Balandougou project, Guinea, for the considerable sum of $5.13 million.\n\n \n \nAlthough foreign travel for Stellar management is suspended until further notice, Stellar has very qualified representatives in all its jurisdictions of interest and all essential work to advance Stellar's property acquisition program is continuing uninterrupted from the Company's branch office in Marrakech, Morocco.\n\n \n \nThe Path Forward for Stellar AfricaGold is Unchanged\n\n \n \nAs previously announced Stellar is actively reviewing and evaluating new exploration opportunities in Ivory Coast and in Morocco to assemble a solid portfolio of new projects. \n\n \n \nAs announced on January 7, 2020 Stellar optioned up to a 100% interest in Birimian Geology Exploration SARL (\"BGE\"), a Cote d'Ivoire company. BGE holds two well-located gold exploration permits still pending totaling approximately 471 km2, the Bocanda permit (97 km2) and the Djekanou permit covering (374 km2). As required, this acquisition is subject to the TSX-V approval and Stellar's local team is working to secure outstanding signatures from the Cote d'Ivoire authorities to complete the granting of the two permits. Stellar is currently discussing budgets and logistical requirements to start an initial reconnaissance, prospecting and mapping program over the 471 km2 surface area of both permits.\n\n \n \nStellar is also advancing ongoing discussions to acquire a gold project in Morocco. The field visit by Maurice Giroux, V.P. Exploration and COO of Stellar originally scheduled for this week has been adjourned to a future date to be determined. However, as previously stated, all necessary procedural and technical actions will be handled by local Stellar Director Yassine Belkabir assisted by Dr. Ali Saquaque, Stellar's technical advisor for Africa. Stellar does not anticipate that the acqui...