Montreal, June 1, 2020 Maurice Giroux, VP Exploration and Chief Operating Officer of Stellar AfricaGold Inc., (TSX-V: SPX) (“Stellar” or the “Company”) announces that the Company has begun a due diligence field program in Morocco.
Stellar has previously announced its interest in acquiring new exploration projects in Côte d’Ivoire and Morocco, two geologically desirable yet underexplored mining jurisdictions. Since October, 2019 Stellar VP Exploration Maurice Giroux and director Yassine Belkabir have held numerous discussions with the Moroccan Office Nationale Des Hydrocarbures et Des Mines (“ONHYM”) in Rabat, Morocco which concluded with the February 25th, 2020 signing of a Confidentiality Agreement allowing Stellar to begin actively evaluating the potential of a gold and multi-elements project of interest in the Haut-Atlas region in Morocco.
A field visit by Stellar management and ONHYM representatives scheduled for the first week of March 2020 was cancelled due to Covid pandemic travel restrictions. That field visit would normally be followed by a due diligence exploration program by Stellar and, if that due diligence program returned positive results, the signing of a Definitive Agreement between ONHYM and Stellar for the acquisition, exploration and, if warranted, the future development of the property.
Although international travel restrictions have prevented Stellar’s Canadian management from participating in the site visit, Stellar is fortunate to have an in-country geological team available. This team, including experienced Moroccan geologists under the supervision of Stellar’s Moroccan director Yassine Belkabir, (also a Qualified Person as defined in the NI 43-101), and Stellar’s Special Advisor for Africa, Dr Ali Saquaque, of Marrakech Morocco, will conduct the proposed due diligence field program on the ONHYM project of interest.
The program, scheduled to start on June 6th, will consist of:
- Compilation and evaluation of an existing historical data base,
- Locate all known showings and old trenches described in data base
- Sample all gold showings described in data base reports, 100 samples assayed for gold and 20 samples multi-element assays are budgeted.
- Confirm the description of the mineralized structures.
- Evaluate geological potential for extending the historically identified mineralized zones.
- Geological prospecting of the project area to identify and map new structures.
The results of this program are expected by the end of June 2020 and if the results warrant will lead to the signing of a definitive acquisition agreement to between STELLAR and ONHYM.
For a pdf copy of the complete June 1, 2020 news release click here.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian gold company with head office in Vancouver, BC and technical office in Montreal, QC. Stellar President John Cumming can be contacted at 604-618-4262 or by email at cumming@stellarafricagold.com.
The technical content of this press release has been reviewed and approved by Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
