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Guinea Projects

The Company owns a 49% interest in 7 exploration licences in Guinea. The 7 licences cover an extensive 967 km2 in the SIGURI volcano-sedimentary basin.
  • BALANDOUGOU project, 4 licences covering 606 km2
  • SARAYA Project, 1 licence covering 95 km2
  • SIGUIRI Project, 1 licence covering 107 km2
  • MANDIANA project, 1 licence covering 159 km2
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The SIGURI basin extends over more than 90,000 km2 and is viewed as one of the more prospective Birimian age volcano-sedimentary successions of West Africa. Significant gold deposits in the SIGURI basin include Anglogold Ashanti’s operating Siguri Mine with total reserves of 3.1M oz Au. In addition, Guinor’s Lero mine has gold reserves of
2.9M oz Au.

The Guinea holding is a 49% /51% joint venture between STELLAR AFRICAGOLD and ULTRAGOLD HOLDING. Ultragold Holding is a private company based in Denver Co. One of major shareholders of UG is NEWMONT MINING with a 16% ownership. Ultragold has earned 51% of Guinea properties by spending $1.5M in exploration work.

Current exploration work concentrated mainly on the BALANDOUGOU project led to the SOLOTOMO GOLD DISCOVERY.
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Balandougou's Solomoto Gold Discovery


Regional and detailed soil geochemistry led to the outlining of 3 extensive gold in soil anomalies, one of them overlying the SOLOTOMO artisan mine pit, where at its peak, from November 2006 to January 2007, 14,000 miners were digging.

Trenching across those strong gold in soil anomalies has proven successful in localizing two large mineralized shear zones, namely zones B1 and B3. Initial trenches ST-1 and CQ-1 respectively on zones B3 and B1 reported gold grades of 2.55 g/tAu over 25 metres and 1.68 g/tAu over 90 metres.
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To date, more than 11,500 metres of RC drilling and 3,200 metres of core drilling have been done on SOLOTOMO Pit, B3 and B1 gold occurrences:
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BALANDOUGOU MAGNETIC PROFILE

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The following table shows the major gold intersections of the two RC drill programs so far:

BEST RC DRILL INTERSECTION ON B3 ZONE

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BEST RC DRILL INTERSECTION ON B1 ZONE

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SOLOTOMO ARTISAN PIT MOST SIGNIFICANT MINERALIZED DRILL INTERSECTIONS

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