Montreal, October 6, 2021– Stellar AfricaGold Inc., (TSX-V: SPX) (“Stellar” or the “Company”) is pleased to announce the completion of eleven new trenches on the Tichka Est Gold and Base Metals Project in Morocco.
Exploration Program Increased at Tichka Est, Morocco
Stellar has proceeded with an infill trenching program building upon the positive results from its first campaign completed during the second quarter of this year on it 90% earn-in Tichka Est Gold and Base Metals Project in Morocco. This expanded program is headed by Dr. Saquaque and his team which also conducted the earlier program.
The general area of the Tichka Est project, which is in the High Atlas Mountain region approximately 160-kilometres southwest of Marrakech, is accessible by existing well-maintained national roads, Stellar is planning the construction of a new road to allow exploration vehicles and drill equipment to access the specific drill ready structures at Zones A and B of the Tichka Est permits. As previously announced (News Release July 8, 2021), exceptionally steep terrain and hard rock required that the access road to drill-ready Zones B and A gold structures be re-routed including making applications for additional road construction permits. Permitting for the new road construction is advancing well and now that proposed route has been accepted in principle detailed surveying of the proposed route will be conducted in the coming weeks.
The initial trenching of the Zones B and A gold structures during Q2 of 2021 reported numerous mineralized intersections with grades as high as 3.36 g/t Au over 10.0 meters including an interval of 8.73 g/t Au over 3.0 meters in Zone A, and 4.55 g/t Au over 15 meters including an internal of 7.47 g/t Au over 6.0 meters in Zone B. These very encouraging surface results greatly justified the positioning of new infill and extension trenches.
To get a better surface definition of both A and B structures before drilling, Stellar mandated a geological crew consisting of one senior and one junior project geologists and some local labourers to dig 8 new trenches totalling 160 linear meters across the B structure and 3 new trenches totalling 60 linear meters across the A structure. Each trench was channel sampled mechanically on its entire length with a rock saw and 1 metre intervals samples were bagged and send to laboratory. 200 samples have already been collected and sent to AFRILAB Laboratory of Marrakech for gold analysis. The objective of this program is to seek the lateral extensions of both the A and B zones, and to confirm the grades consistency along these two structures before planning the drill program. The results of this trench sampling program will be announced as soon as assays are received, reviewed and compiled by Dr. Saquaque.
The geological crew has been based in the nearby village of Analghi which is the most convenient place from which to access the A and B mineralized structures and can provide all necessary facilities to accommodate the crew. The village also has sufficient local laborers necessary for the execution of an expanded exploration program. The geological team before the expanded tranching program was under the direct supervision of Stellar’s technical advisor Dr. Ali Saquaque in Marrakech and of Stellar director Yassine Belkabir who is also a Senior Technical Advisor and Qualified Person for Stellar AfricaGold.
About Tichka Est Project
The Tichka Est Property lies within the High Atlas Western Domain about 160 km SSW of the city of Marrakech. 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.
About Stellar AfricaGold Inc.
Stellar AfricaGold Inc. is a Canadian gold company with offices in Vancouver, BC and in Montreal, QC. Stellar President François Lalonde can be contacted at 514-994-0654 or by email at lalondejf@ stellarafricagold.com.
The technical content of this press release has been reviewed and approved by M. Yassine Belkabir a Qualified Person as defined in NI 43-101.
On Behalf of the Board
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. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. 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.
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