Montreal, February 21, 2022– Stellar AfricaGold Inc., (TSX-V: SPX, OTCQB: STLXF, FSE: 6YP1) (“Stellar” or the “Company”) is pleased to announce the discovery of a third gold mineralized structure with over one kilometer of strike length and trenches assaying as high as 5.81 g/t Au over 4 meters in the fourth trenching program at the Tichka Est Gold Project in Morocco.
Commentary
Maurice Giroux, V-P Exploration and COO of Stellar declared “I am delighted to see that the potential of the Tichka Project is blossoming with the discovery of another new structure within the Tichka Est permits. This third structure, designated as Zone C, is located to the East of Zone B and shows similar mineralogy, gold grades and structure width consistent with that found in Zones B and A previously reported. The Zone C structure is adding 1,000 strike meters of gold mineralization to the already announced 1,200 strike meters of Structures A and B for a combined total of 2,200 strike meters. This important new structure remains open to the East and at depth. Stellar has a permanent geological team in Morocco and exploration of Zone C is ongoing. Results will be released as assays are received and analyzed.”
Zone C Trenching Program
The Zone C trenching program consisted of a surface program of six hand dug 1-meter-deep trenches across an EW striking quartz-Ankerite-sulphides structure with apparent sulfides, pyrite, arsenopyrite, chalcopyrite and iron oxide hosted in a very broken and deformed schist unit (See Figure 1 below) discovered during the initial stream sediments sampling program on the new Permit 3738989 (See news release February 8, 2022).
This first phase of the Zone C Structure trenching program confirmed significant gold mineralization over greater than one kilometer of strike length with widths of up to 7 meters (see Figure 2).
Significant assay results include:
Trench C1: 3.58 g/t Au over 2 meters,
Trench C2 5.81 g/t Au over 4 meters,
Trench C3 3.14 g/t Au over 4 meters,
Trench C4 5.66 g/t Au over 1 meter and 0.92 g/t Au over 7 meters, and
Trench C5 0.88 g/t Au over 2 meters.
Figure 1 – Trench C3 quartz-ankerite sheared structure grading 3.14 g/t Au over 4 meters
Stellar is continuing to explore the Zone C structure by adding additional in-fill trenches to the eastern extension and between Trench C1 and Trench C2. Stellar plans to include drilling of this new Zone C in the planning of the initial drill programs for Zones A and B structures. Moreover, and important to note here, that the gold anomalies located by the stream sediments program and identified as Zone 5 (announced February 8, 2022) appear closely associated to the Zone C gold structure which indicates that the analysis of stream sediments is an effective tool for locating mineralization in the Tichka Est region. Overall. the stream sediments program results identified 6 gold anomalies, 5 of which have not yet been investigated but will be explored in forthcoming exploration programs.
Figure 2 – Locations of trenches at zones A, B and C structures
Figure 3 Geology and assays results for Trenches C2 and C3
Technical Information and Quality Control/Quality Assurance Notes
The trenches were excavated across the Zone C using hand tools to an average depth of 1.5 metres. The trenches were mapped at a scale of 1:100 and channel sampled at 1 metre intervals using a mechanical rock saw for a better sample accuracy as recommended in Stellar’s Technical Report of November 15, 2020.
Sample collection was done by two experienced senior local geologists under the supervision of 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 African Laboratory for Mining and Environment (“Afrilab”) in Marrakech for analysis.
101 samples were sent to the lab for this program. In addition, for the purpose of quality control, 4 standards, 4 duplicates and 4 blanks samples were added to the batch and except for the duplicate that is showing a probable nugget effect, the standards and blanks are well within the acceptable limit. The blank sample values were all below the detection limit for gold.
About Tichka Est Project
The Tichka Est gold project, 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 accessible year-round via national and regional roads to the village of Analghi located near the mineralized gold zones. Exploration following up on some strong stream sediment anomalies reported by ONHYM lead Stellar to the discovery of 3 extensive gold mineralized structures designated Zone A, B and C.
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 and the Frankfurt Stock Exchange FSE: 6YP1.
The Company maintains offices in Vancouver, BC and in Montreal, QC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration project is its gold discovery at the Tichka Est Gold Project in Morocco, 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. Stellar also holds the Namarana Gold Project in Mali where trenching is currently underway. 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 remaining conditions to the Arrangement will not be satisfied; 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.
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