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Stellar AfricaGold Signs MOU for Acquisition of 770 km2 Gold Permits in Cote d'Ivoire
(via TheNewswire) Vancouver - TheNewswire - June 29 , 2020 - John Cumming ,...
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"Stellar AfricaGold Signs MOU for Acquisition of 770 km2 Gold Permits in Cote d'Ivoire(via TheNewswire)\n \n \nVancouver - TheNewswire - June 29, 2020 - John Cumming, President and CEO of Stellar AfricaGold Inc., (TSXV:SPX) (\"Stellar\" or the \"Company\") announces: \n\n \n \nStellar has signed a non-binding memorandum of understanding (\"MOU\") with Altus Strategies PLC outlining the commercial terms for the acquisition of two gold permits, the fully issued Priko permit and the pending Zenoula permit, totaling approximately 770 km2 in Cote d'Ivoire. The MOU provides a thirty-day exclusivity period for Stellar to conduct a technical due diligence review and site inspection, and for the parties to complete a binding agreement (the \"Agreement\") for the acquisition.\n\n \n \nThe Prikro Project\n\n \n \nThe Prikro permit comprises a single 369.5 km2 exploration permit in the Prikro and Koun-Fao Departments in eastern Cote d'Ivoire, approximately 240km northeast of the capital of Abidjan. The permit is located 40km north-west of the town of Agnibilekrou and 25km west of the town of Koun-Fao, both of which can be accessed by asphalt roads from Abidjan. The permit has historically reported gold occurrences, prospective geology, and nearby artisanal workings including along strike of a major NE-SW trending shear zone which is interpreted to traverse the permit area. Birimian-age greenstone rocks reportedly crop out extensively across the Prikro permit and represent Paleoproterozoic meta-sedimentary units, with associated granite to diorite intrusives, which are the dominant host setting for gold deposits across West Africa.\n\n \n \nThe Zenoula Project\n\n \n \nThe Zenoula permit comprises a single 400km2 permit application which is currently pending grant in the Marahoue Department in central Cote d'Ivoire, approximately 300km north of Abidjan. The permit is located 100km north of the town of Yamoussoukro which can be accessed by asphalt roads from Abidjan. Zenoula is centred within a NNE trending Birimian age granite greenstone belt, 65km along strike from the Abujar project of ASX listed Tietto Minerals Limited. Zenoula targets a 22 km long oblique ENE trending structure, interpreted by historic air magnetic data. Geologically, the project reportedly comprises metasediments, metabasalts and syntectonic granitoid intrusives.\n\n \n ...