Business
Stellar AfricaGold Resumes Trading and Announces Development Strategy for Guinea and Quebec Gold Projects
MONTREAL, QUEBEC--(Marketwired - June 13, 2016) - Maurice Giroux, President and Chief Executive Officer of Stellar AfricaGold Inc. (TSX VENTURE:SPX) ("Stellar"
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"MONTREAL, QUEBEC--(Marketwired - June 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...