Welcome!

News Feed Item

Stellar AfricaGold Completes $150,000 Private Placement and Starts Work Program on Opawica and Philibert I

MONTREAL, QUEBEC -- (Marketwired) -- 01/22/14 -- Stellar AfricaGold Inc. ("Stellar"), (TSX VENTURE:SPX) announces that is has completed a non-brokered private placement, raising gross proceeds of $ 150,000 through the issuance of 150 units priced at $ 1,000 each. Each unit consists of 8,500 flow-through common shares ($ 0.10 each) and 1,500 common shares ($ 0.10 each) and 10,000 common share purchase warrants entitling the holder to purchase one additional common share, for a period of 12 months from closing, at a purchase price of $0.15 each.

The net proceeds will be used to advance Stellar's newly acquired Opawica amd Philibert I properties in Quebec and for the corporation general working capital purposes.

The company also informed shareholders that it has contracted Geophysique GPR International Inc. to proceeds to the complete coverage of Opawica and Philibert-I properties with and airborne Magnetic and VLF survey. A total of 437 line kilometre of survey at a line spacing of 100 metre will be done during the month of February 2014. The results of the survey will be known in the course of March 2014 and will constitute the base for the orientation of the company's summer program.

About OPAWICA Property:

The OPAWICA Property consist of three blocs totalling 80 mining cells recently acquired by the Stellar in the area of the new Liam gold discovery on the Nelligan Project of Vanstar. It is located approximately 45 kilometres south of the village of Chapais and is accessible year-round by several forestry roads. A power line crosses the South block of the Opawica property.

The Opawica property is located within the Tomagold/Iamgold-Vanstar-Soquem working area which is to date the most active exploration camp in Quebec. Among the most important gold occurrences reported in the area, we note SOQUEM Meston Lake deposit (1.2 MT @ 6.25 g/t Au), SOQUEM Philbert deposit (1.3 MT @ 5.32 g/t Au), as well as numerous high grade drill and channel sampling reported by Tomagold, Vanstar, Murgor and SOQUEM as well as the former Joe Man gold mine that produced over 1.0 million ounces of gold.

About PHILIBERT I PROPERTY

The property consists of four mining cells covering 224 hectares in the Gamache township, 45 kilometres south of the town of Chapais, Que.

The Philibert-I showing was discovered in 1983 by prospection, and consists of a gold mineralization associated with quartz-tourmaline-sulphides veins. Historical exploration reported grades of 31.6 grams per tonne gold and 2.54 grams per tonne silver in channel sampling across exposed quartz veins, and of 18.66 grams per tonne gold over 0.6-metre cuts in a drill hole.

This property is located in the same environment than Opawica property, and is 6.5 kilometres north-northeast of Vanstar's Liam discovery.

In connection with the private placement, no finder's fee was paid. All securities issued pursuant to the private placement are subject to a four-month-and-one-day hold period and the private placement is subject to approval by the TSX Venture Exchange.

The technical content of this press release have been reviewed and approved by Mr. Maurice Giroux, a Qualified Person as defined in NI 43-101.

Neither 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.

Contacts:
Maurice Giroux, President and CEO
Stellar AfricaGold Inc.
514-866-6299
514-866-8096 (FAX)
[email protected]
www.stellarafricagold.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...