FIRST GOLD RECOVERED FROM BALANDOUGOU GRAVITY MILL
The Company’s Balandougou gravity mill has tested processing operations and recovered its first gold.
During a management site inspection which included a comprehensive mill operations test and demonstration, 21.5 tonnes of gold-mineralized oxide was processed with 49 grams of gold recovered, a 2.28 gram per tonne gold recovery. See photos within News Release.
FULL-TIME MILL OPERATIONS STARTED
The Company, after testing some final modifications made to the waste disposal circuit, has begun full-time milling operations at its Balandougou gravity mill processing the previously stockpiled 15,000 tonnes of bulk sample oxide gold mineralization taken from three different locations along the B3 sheared structures.
Management Commentary
“I was both pleased and impressed to see Stellar’s gravity mill in operation” commented Stellar President and CEO John Cumming. “The 2.28 g/t recovery rate from the mill demonstration test gives us increased confidence as we proceed with the bulk sampling program and our goal of achieving a 1.5 g/t average rate of recovery across our 15,000 tonnes bulk sample.” To read the complete Management Commentary click the news release link below
NON-CORE ASSET REVIEW
Opportunities for the sale or joint venture of the Opawica Project are being sought and other avenues of divestiture are also being considered.
PRIVATE PLACEMENT UPDATE
Further to the Company’s news releases of April 25 and May 18, 2018 the Company has closed a fully subscribed non-brokered private placement offering (the “Offering”) and issued 6,200,000 units at a price of $0.05 per unit for gross proceeds of C$310,000.
