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Stellar AfricaGold Expands into Silver Space Optioning 90% of Imiter Nord Silver Project, Morocco
(TheNewswire) Vancouver – TheNewswire - April 8, 2021– ...
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"Stellar AfricaGold Expands into Silver Space Optioning 90% of Imiter Nord Silver Project, Morocco\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver –\n \n \n TheNewswire -\n \n \n April 8, 2021–\n \n \n J.\nFrançois\n \n \n Lalonde\n \n \n ,\n \n \n President and CEO\nof Stellar AfricaGold Inc., (TSXV:SPX) (\"Stellar\" or the\n\"Company\") is pleased to announce that Stellar has signed an\nExploration Option Agreement to explore, develop and earn up to 90%\ninterest in the silver and multi-elements potential of the Imiter Nord\nDomain in the Oriental Anti-Atlas area in Morocco.\n \n \n \n \n Terms of the Agreement\n \n \n \n \n Pursuant to the terms of the April 6, 2021 Exploration\nOption Agreement Stellar has three months to conduct additional\ntechnical due diligence on Imiter Nord at which time Stellar will\nissue Stellar shares equivalent to US$50,000 of value shares to\nproperty vendor Hidaya Mining. Thereafter, Stellar may earn up to 90%\ninterest in the Imiter Nord project by incurring 18,000,000\n \n \n Moroccan dirhams (approximately US$1,981,000) of\nexploration over a period of three years. All subsequent exploration\nwill be financed by the parties pro-rata according to their\nshareholding. Hidaya will retain a 2.5% NSR that Stellar can purchase\nat any time for 5,000,000 dirhams (approximately US$467,625) for each\n0.5% tranche. The Exploration Option Agreement is subject to\nsatisfactory technical results during the three-month due diligence\nperiod, to TSX-V and Moroccan Ministry of Mines approvals\n \n \n .\n \n \n \n \n The Imiter Nord Project\n \n \n \n \n The Imiter Nord project is comprised of\n \n \n five (5) exploration permits totalling 80 km\n \n \n 2\n \n \n . The Imiter\nNord permits, which are in the process of being upgraded to\nexploitation licences and are located immediately contiguous to the\nNorth of Managem’s Imiter Silver\n \n \n Mine (see\nfigure 1), the largest silver producer in Morocco. The Imiter Nord\npermit area is easily accessible by paved road and dirt road that cut\nacross all five (5) permits.\n \n \n \n \n Figure 1. Localisation map of the\npermits\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Hidaya Mining reports a meaningful presence of silver,\nlead and zinc mineralization within the perimeter of the permits and\nthe cu...