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Stellar AfricaGold Inc.
Summary
| Project: | Lullwitz-Kaeppeli | |
|---|---|---|
| Deposit: | Lullwitz-Kaeppeli | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/9/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-3-2020: Stellar AfricaGold Inc. announces a Supporting Acquisition report for its Lullwitz-Kaeppeli deposit at the Lullwitz-Kaeppeli project. Summary of property in support of acquisition. On January 22, 2020, Stellar AfricaGold Inc. announced that it h | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Benoit M. Violette (Independent) | |
| ABSTRACT: | On January 22, 2020, Stellar AfricaGold Inc. announced that it had signed an agreement to purchase 100% of the mineral rights in the Lullwitz-Kaeppeli Gold Project (L-K Project or L-K Property) from Mr. Guy Galarneau, the title owner. The purchase agreement consists of a cash payment of $5,000.00, the issuance of 300,000 common shares of the company and a residual royalty of 1,5% NSR, with a buy-back clause of $500,000 exercisable at any time by Stellar AfricaGold. The closing of the transaction will take place in mid-March 2020 or once the regulatory authorities will have approved the transaction. The L-K Project consists of one claim block, totaling four map-designated cells covering 231.4 ha. These claims are located in Lacoste and De Sales townships, in NTS 21 M16, and will be renewable on April 7, 2021. Exploration expenditures to the amount of $4,800.00 will be required upon renewal, along with mining duties in the amount of $217.00. No accrued work is currently registered on the claims. There are no environmental liabilities pertaining to the L K property. Nevertheless, the western third of the property is withtin a minor fauna constraint order and could require a special permit for access. The only permit now required to carry out exploration activities on the property is the usual forestry management permit. | |
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