Stellar Africagold Assays Return 10 G/T Over 10 Meters And 4.47G/T Gold Over 22 Meters at Balandougou Zone B3
(TheNewswire)
Montreal / TheNewswire / October 13, 2017 - John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSX-V: SPX) ("Stellar" or the "Company") is pleased to announce new trench assay results including 10 meters of 10 g/t and 22 meters of 4.47 g/t gold:
New Trenches - Assay Results
During late summer 2017 four infill trenches were excavated to a depth of 3 meters over a total length of approximately 350 meters within the B3 gold-mineralized shear zone at the Balandougou gold project. Previous trenching during the 2012 exploration program was on 100 meters spacing and the objective of the 2017 infill trenching program was to provide 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 are perpendicular to the mineralized structure.
These additional new trenches assisted with more precise location of the extraction trench from which 15,000 tonnes of quartz-rich gold-mineralized material was extracted and stockpiled for Stellar's bulk sample program.
Table of Significant Assay Results
---------------------------------------------- |Trench TF-2|4.47 gAu/Tover22 meters| |--------------------------------------------| ||including11.85 gAu/Tover2 meters| |--------------------------------------------| ||and6.97 gAu/Tover2 meters | |--------------------------------------------| ||and9.64 gAu/Tover2 meters | |--------------------------------------------| |Trench TH-1|1.40 gAu/Tover14 meters| |--------------------------------------------| ||1.88 gAu/Tover32 meters| |--------------------------------------------| ||including3.14 gAu/Tover4 meters | |--------------------------------------------| ||and5.18 gAu/Tover2 meters | |--------------------------------------------| |Trench TE-2|5.68 gAu/Tover4 meters | ||2.29 gAu/Tover2 meters | |--------------------------------------------| |Trench TG-2|10.0 gAu/Tover10 meters| ----------------------------------------------As previously announced, the bulk sample program will process 15,000 tons of surface oxide mineralization from the B3 Zone of Stellar's 100% owned 52 km2 Balandougou Project in Guinea. The primary objective of the program is to investigate the suitability of the B3 oxide mineralization to gold extraction and recovery using gravity separation as the sole or primary method of gold recovery. Gravity separation is the most environmentally friendly gold extraction method because no chemicals are used in the gold extraction process. It is also the most economical solution for processing surface oxide deposits.
See Figure 1 illustrating the quartz vein content of the B3 Zone below.
Figure 1 - Gold-bearing Quartz Veins within the B3 Sheared Structure
Click Image To View Full Size
Semi-industrial Gravity Plant at Balandougou
Stellar is developing the promising gold potential of the advanced exploration stage B3 Zone of its 100% owned Balandougou Gold Project in Guinea, including installation of a 150 tonnes per day gravity separation plant based on design parameters defined by SGS South Africa and Henan Xingyang Mining Machinery Manufactory, a branch of XKJ Solution Group of Zhengzhou, China. The gravity plant equipment has been delivered to the mine site and the Company is awaiting delivery of structural steel footings and supports prior to final assembly. Stellar has extracted and stockpiled the first 15,000 tonnes of gold-mineralized material from the previously mentioned extraction trench and this material is ready for processing as an initial bulk sample once commissioning of the plant begins. Commissioning is now planned for January 2018.
See Figure 2 below for a partial view of the stockpiled mill feed.
Figure 2 - View of Part of the Initial 15,000 Tonnes
Gold-bearing Quartz Mineralization Stockpiled for Mill Start-up
Click Image To View Full Size
Technical Information and Quality Control Notes
The assay results referenced in this news release were prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.The sampling of, and assay data from, channel samples is monitored through the implementation of a quality assurance - quality control program designed to follow industry best practice.
Sample collection is done by two experienced local geologists under the supervision of Stellar's VP Exploration. Channel sampling of each mineralized section encountered in the different trenches was done at a depth of three meters always on the northwest wall and from the northeast to the southwest.
Each sample collected weighed approximately two kilograms and is a representative composite of the material within this interval. The samples were bagged on the trench site and stored into a locked warehouse at Stellar's site facilities until representatives of ALS Minerals Bamako branch collected the batch for transportation to Bamako Laboratory.
A total of 70 samples were sent to ALS Minerals Laboratory in Bamako, Mali for analysis. Fifty gram aliquots of the samples were fire assayed with atomic absorption finish. ALS quality control consisted of 4 control samples, 4 blanks and 7 duplicate samples and all assays were within the targeted range.
Stellar AfricaGold Inc. is a Canadian gold exploration Company based in Montreal, Quebec, with operations concentrated mainly in West Africa and in Quebec.
The Company is currently developing the promising gold potential of the Balandougou project in Guinea, which is at an advanced exploration stage, as well as of the Namarana project in 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, cumming@stellarafricagold.com or Maurice Giroux, VP Exploration & COO, mgiroux.stellar@gmail.com or access the Company's website at www.stellarafricagold.com.
On Behalf of the Board
John Cumming, LLM,
President & CEO
This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding expected, estimated or planned gold and niobium production, cash costs, margin expansion, capital expenditures and exploration expenditures and statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "outlook", "guidance", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation: changes in the global prices for gold, niobium, copper, silver 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. Development projects have no operating history upon which to base estimates of future cash flows. The capital expenditures and time required to develop new mines or other projects are considerable, and changes in costs or construction schedules can affect project economics. Actual costs and economic returns may differ materially from estimates and the Company could fail to obtain the governmental approvals necessary for the operation of a project; in either case, the project may not proceed, either on its original timing or at all.
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