Vancouver, July 26, 2022– Stellar AfricaGold Inc., (TSX-V: SPX, OTCQB: STLXF, FSE: 6YP1) (“Stellar” or the “Company”) is pleased to announce that the Phase I drilling program has begun at the B-structure and that a new gold-bearing structure has been discovered at Stellar’s Tichka Est Gold Project in Morocco.
Commentary
“The commencement of the Phase I drilling program of the B-structure is definitely an important milestone for Stellar and its exciting Tichka Est Project Gold Project” declared Stellar’s VP Exploration and COO Maurice Giroux. “After all the tremendous work required to access the mineralized zones in such a steep terrain the drill rig is now on site and drilling is underway.
Additionally, the outstanding results from the initial prospection of the stream sediments anomalies confirm the gold potential throughout the 82 Km2 area covered by the permits of the Tichka Est Gold Project. A newly discovered structure, designated C2 and detailed below, will be mapped, trenched and sampled for a better geological interpretation, and all other gold and copper-rich sampled structures will be revisited for a better structural and geological assessment. Overall, this is going to be a very exciting period in Stellar’s development.”
The Phase I Drill Program at Tichka Est Zone B
After minor reshaping of some tight corners and expanding a few shoulders of the eight-kilometer access road, the drill rig is on site at the B-Structure and drilling has just commenced. The Phase I drill program is comprised of approximately 2,000 meters of RC drilling to test the gold mineralization to depths ranging between 30 to 120 meters. At present 15 RC holes totalling 2,140 meters are scheduled along a 600 meters strike length to test the B structure. However, setting drill pads at Tichka-Est’s high altitude on steep slopes is very challenging. The B-Structure runs NE-SW and dips steeply to the NW and therefore will have to be drilled from both sides depending mainly on the topography and accessibility of the ideal drill sites position. The drill plan is considered to be dynamic, and adjustments will be necessary as the work program progresses. (See figure 1)
About the Zone B Structure
The B structure was initially surface tested with 12 hand tooled trenches which returned gold intersections as high as 3.40 g/t over 20 meters including intervals of 5.23 g/tover 11 meters and 8.14 g/tover 5 meters; 4.64 g/t over 14 meters including 11.16 g/tover 5 meters; 3.4 g/t over 17 meters including 9.55 g/t over 4 meters and 4.55 g/tover 15 meters including an internal of 7.47 g/tover 6.0 meters. (See news releases April 21 and October 25, 2021.) To date, three gold-bearing structures designated A, B and C, have been confirmed at Tichka Est, and trenching programs have delineated an impressive 2,200 linear meters of gold mineralized structures. The current Phase I drill program will begin testing the B structure for depth and continuity.
Figure 1 B-Structure showing trench locations and preferred drill holes location
Image 1 – Zone B structure crosscut by access road
Image 2 – On-going drilling campaign at Zone B Structure
New gold zone discovered.
Stellar is also pleased to announce results of the initial prospection of the watersheds of 7 stream sediments anomalous areas reported in a press release dated February 8, 2022. The program consisted mainly of traversing the watershed to locate, describe and sample areas of geological interest. The traversing was performed in very steep terrain at altitudes ranging between 2,000 to 3,000 meters elevation. A total of 94 rock samples were collected and sent to the lab for multi-elements analysis. (See figure 2)
Assaying for gold, silver, copper, zinc and nickel returned significant results and contributed to the discovery of a new extensive gold bearing structure designated as C2. The C2 structure is located just 175 meters to the South and parallel to Zone C.
About the new Zone C2
Zone C2 is described as a 2-3 meters wide at surface quartz-carbonate-sulfides filled sheared zone oriented N95o and dipping 75o N. It is located 175 meters south of the Zone C structure and is very similar in composition to the Zone C structure. Four rock samples from the structure reported intriguing gold content of 7.56 g/t, 4.30 g/t, 6.42 g/t, and 7.02 g/t.
Additional gold anomalous areas
The watersheds above anomalous areas 1, 3 and 6 also returned significant gold grades as follows:
Zone 1: 1.11 g/t, 8.74 g/t and 2.72 g/t
Zone 3: 1.10 g/t
Zone 6: 9.04 g/t, 1.15 g/t and 2.18 g/t
Significant Copper Grades
In addition to those very significant gold grades which were primarily recovered from structural and geological environments described as sheared zones and dykes filled with quartz-carbonate-sulfides and rich in Arsenic, eleven samples returned significant Copper grades higher than 0.6% and up to 1.67% as follows:
Zone 1: 1.02% Cu, 1.02% Cu and 0.66% Cu
Zone 2: 0.76% Cu, 0.77% Cu and 0.64% Cu
Zone 4: 0.94% Cu, 1.67% Cu and 1.02% Cu
Area north of Zone C: 1.50% Cu and 0.80% Cu
Technical Information and Quality Control/Quality Assurance Notes
Sample collection was done by an experienced local geologist under the supervision of M. Yassine Belkabir, Stellar’s Director in Morocco and by Dr. Ali Saquaque, Stellar’s Technical Advisor for Africa. The samples were bagged at the sampling site and stored in safe areas until being transported to the African Laboratory for Mining and Environment (“Afrilab”) in Marrakech for analysis.
A total of 104 samples were sent to the lab for this program including 4 standards, 3 duplicates and 3 blank samples that were added to the batch for the purpose of quality control, and all were well within the acceptable limit. The blank sample values were all below the detection limit for gold.
Figure 2- Zone of stream anomalies
ABOUT TICHKA EST PROJECT
The Tichka Est gold project, now comprising seven permits aggregating 82 square kilometres, is in the High Atlas Mountain region of Morocco approximately 80 kilometres south-southwest of Marrakech, a region easily accessible by road. The area is accessible year-round by road via a national road to the village of Analghi located near the mineralized gold zone. Follow up on some strong stream sediment anomalies reported by ONHYM lead Stellar to the discovery of 2 extensive gold mineralized structures A and B. A third structures namely the C-Structure was later discovered by Stellar during the follow-up of stream-sediments anomalies.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian precious metal exploration company listed on the TSX Venture Exchange symbol TSX.V: SPX, the OTCQB® Venture Market symbol OTCQB: STLXF, the Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1.
The Company maintains offices in Vancouver, BC and in Montreal, QC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration projects are its gold discovery at the Tichka Est Gold Project in Morocco, and the Namarana gold Project in Mali. The Tichka Est Gold Project is a grouping of seven permits covering an area of 82 km2. The Tichka Est Property lies within the High Atlas Western Domain about 80 km SSW of the city of Marrakech. The area is accessible year-round by road to the village of Analghi located near the mineralized gold zone. The mineralized zone is accessible via an eight-kilometer gravel mountain road constructed by Stellar.
Stellar also holds the drill ready Namarana Gold Project in Mali. Namarana is a 52 Km2 that is 100% owned by Stellar’s Mali subsidiary, Stellar Pacific Mali SARL. Namarana is located 130 km NW of Bamako in the Kankaba Circle of the Koulikoro district.
Stellar also holds three permits pending in Côte d’Ivoire.
The technical content of this press release has been reviewed and approved by M. Yassine Belkabir MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
Stellar’s President J. François Lalonde can be contacted at 514-994-0654 or by email at lalondejf@stellarafricagold.com.
Additional information is available on the Company’s website at www.stellarafricagold.com.
On Behalf of the Board
J. François Lalonde
J. François Lalonde
President & CEO
This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.
Neither the 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.
