Stellar AfricaGold - Balandougou Gold Project, Guinea Commissioning Of Gravity Plant And Bulk Sample Program To Commence March 10, 2018
(TheNewswire)
Vancouver, BC / TheNewswire / March 1, 2018 – John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSX-V: SPX) ("Stellar" or the "Company") announces:
BALANDOUGOU GOLD PROJECT, GUINEA
GRAVITY PLANT COMMISSIONING AND BULK SAMPLE PROGRAM TO BEGIN MARCH 10, 2018
Construction of the 150 tonnes per day (“tpd”) gravity separation plant at the B3 Zone of Stellar’s 100% controlled Balandougou Gold Project in Guinea is mostly complete and final equipment checks are underway. The commissioning of mill equipment and the bulk sample program is scheduled to begin on March 10, 2018.
The Company installed a state-of-the-art gravity separation mill to process a 15,000 tonnes bulk sample to test the economic viability of processing the 60-metre thick oxide portion of the B3 Zone gold mineralization using gravity separation only. The Company has already extracted and stockpiled the 15,000 tonne sample adjacent to the mill site. Processing of the bulk sample is scheduled to begin on March 10, 2018 and the mill’s daily throughput volumes will gradually ramp up during the commissioning period as processing procedures and equipment are fine tuned. Completion of the bulk sample program will take approximately 4 months and, subject to a positive economic evaluation of the bulk sample processing, the Company will consider continuing milling operations on an on-going commercial basis.
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ABOUT THE GRAVITY PLANT
The 150 t/p/d gravity mill consists of a production line composed of an upper vibrating feeder, a primary crusher, a cylinder washing plant, a secondary fine crusher, a ball mill and an S-60 Knelson concentrator. From the Knelson concentrator the concentrate enters the gold recovery room, a 40' shipping container repurposed into a secured facility, where it is fed onto a Model 6S shaking table having a capacity to process 30-60 t/p/d of gold concentrate, and finally the recovered raw gold will be fed into a high frequency smelting furnace. The plant is powered by a 250-kilowatt YTO diesel generator and water is supplied by two 100-metres deep water producing between 10-15,000 litres of water per hour, (i.e. combined well steady flow rate) supported by a 1.5 million litre on-site reservoir.
ABOUT THE BALANDOUGOU B3 GOLD ZONE
The Balandougou B3 Zone is a surface observed gold-mineralized sheared structure oriented roughly N120°E and dipping 45° to the southwest. B3 is a parallel series of quartz veins and veinlets observed in previous trenches E, F, G and H. The zones have been confirmed by the results of 90 core and RC drill holes and a dozen mechanized trenches. The identified 800 metre strike length of the B3 Zone sheared structures of quartz veins and veinlets remain open both laterally and vertically.
During 2017 four additional infill trenches were excavated across B3 zone to a depth of 3 meters over a total length of 350 metres. Previous trenching (2012) was on 100-meters spacing and the infill trenching program provided additional visual and assay confirmation of the continuity and grade of the gold mineralization between certain of those previous trenches within the identified B3 Zone. All trenches were perpendicular to the mineralized structure. (News release October 15, 2017)
The additional trenches allowed more precise definition of the higher-grade gold zone for the bulk sample.
Table of Significant Assay Results (previously released)
--------------------------------------------- |Trench TF-2|4.47g Au/Tover22meters | |-------------------------------------------| | |including11.85g Au/Tover2meters| |-------------------------------------------| | |and6.97g Au/Tover2meters | |-------------------------------------------| | |and9.64g Au/Tover2meters | |-------------------------------------------| |Trench TH-1|1.40g Au/Tover14meters | |-------------------------------------------| | |1.88g Au/Tover32meters | |-------------------------------------------| | |including3.14g Au/Tover4meters | |-------------------------------------------| | |and5.18g Au/Tover2meters | |-------------------------------------------| |Trench TE-2|5.68g Au/Tover4meters | | |2.29g Au/Tover2meters | |-------------------------------------------| |Trench TG-2|10.0g Au/Tover10meters | ---------------------------------------------From the identified extraction zone Stellar extracted and stockpiled 15,000 tonnes of gold-mineralized oxide ready for processing. The sample consisted of 800 truckloads of oxide from 3 different areas along the B3 sheared structure. The cost of mining and stockpiling the 15,000 tonnes sample was less than US$ 4.00 per tonne.
SHARES FOR DEBT SETTLEMENT
The Company has issued 140,000 common shares to three debenture holders to settle $7,000 of interest owed for the period March 22, 2017 to September 22, 2017.
Stellar AfricaGold Inc. is a Canadian gold exploration Company with offices in Vancouver, BC and Montreal, QC, with operations concentrated mainly in West Africa and in Quebec.
The Company is developing the promising gold potential of the Balandougou project in Guinea, including installation of a 150 t/p/d gravity mill and processing of a 15,000 tonne gold-mineralized oxide bulk sample. (see News Release March 1, 2017)
The Company also owns the Namarana project in neighbouring Mali. In Quebec, the Company owns 100% of the Opawica Project in the Chibougamau mining camp.
The technical content of this press release has been reviewed and approved by independent consultant Greg Isenor, P. Geo, a Qualified Person as defined in NI 43-101.
For further information please contact:
John Cumming, President & CEO, Stellar AfricaGold Inc.,
4908 Pine Crescent, Vancouver, BC, V6M 3P6, or
Maurice Giroux, VP Exploration, Stellar AfricaGold Inc.,
1035 West Laurier Street, Suite 201, Montréal (Québec) H2V 2L1.
Tel.: 514-866-6299 Email: mgiroux.stellar@gmail.com
Additional information is available on the Company’s website at www.stellarafricagold.com.
On Behalf of the Board
John Cumming, LLM,
President & CEO
This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.
Neither the 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.
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