VANCOUVER, BC – November 19, 2024 – STELLAR AFRICAGOLD INC. (TSXV: SPX) (the “Company” or “Stellar”) is pleased to report the successful completion of a community relations outreach mission and an initial geological reconnaissance within its Zuénoula permit in Côte d’Ivoire which confirmed the presence of multiple promising indicators of gold prospectivity including artisanal mining sites, quartz veins and termite mounds containing traces of gold.
The reconnaissance mission provided valuable insights into the geological potential of the Zuénoula permit , with the following key findings:
1. Confirmation of Artisanal Mining Activity
The team identified several artisanal mining sites, especially near Boaka and Kavaka, primarily along the Marahoué and Béré rivers. Evidence of both historical and recently active artisanal gold extraction in these zones are encouraging indicators for the discovery of more extensive gold mineralization within the Zuénoula Permit . See Figure 1 below.
2. Identification of Extensive Quartz Veins
The reconnaissance team mapped numerous quartz veins across the Zuénoula permit, an indicator of the potential for hosting gold mineralization. These veins range from 20 cm to multiple meters in thickness and show orientations favorable for gold deposition, particularly along the dominant N040 structural trend. Notably, these quartz formations, primarily white with oxide traces, show signs of hydrothermal alteration, a feature commonly associated with gold-bearing minerals. Random grab sampling has returned encouraging gold traces up to 7 ppb, reinforcing the gold potential of the Zuénoula permit area.
These findings, in combination with the surrounding geological context, underscore the Zuénoula permit’s promising potential for gold deposit discovery.
Figure 1 : Artisanal areas observed during the site visit
Next Steps
Following these encouraging indicators, Stellar AfricaGold next will launch a stream sediment survey to identify and prioritize gold targets across the Zuénoula permit . The purpose of this phase of early-stage exploration is to refine the mapping of potential gold anomalies and enhancing the Company’s understanding of the Zuénoula permit’s geology.
Stellar remains committed to responsible exploration practices and will continue to engage actively with local communities, surface rights holders and relevant authorities to ensure sustainable local relationships and mutually beneficial project development.
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 Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1 .
The Company has its head officed in Vancouver, BC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration projects are the Company’s recently granted, highly prospective 395.8 square kilometer Zuénoula gold exploration permit in Côte d’Ivoire and its advancing 82 square kilometre Tichka Est Gold Project in Morocco for which the extension to the earn-in option is currently being negotiated with ONYHM, the National Office of Hydrocarbons and Mines, Morocco.
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 and CEO 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
President & Director
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.
Disclaimer & Forward-Looking Statements:
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.
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