Montreal, October 4, 2022– Stellar AfricaGold Inc., (TSX-V: SPX) (“Stellar” or the “Company”) is pleased to announce the results of its initial RC drilling campaign of the B Zone of the Tichka-Est project in Morocco.
In this campaign 20 RC holes totalling 1,182 metres were attempted. Seven holes were abandoned due to downhole rock mechanic’s problems, and the azimuth and drilling angle of 5 other holes were changed during the program as the geologic structure was reinterpreted. Of the completed holes gold mineralization was encountered in five holes with significant intersections including 3.71 g/t over 9 metres, 3.03 g/t over 6 metres and 3.30 g/t over 4 metres. Additionally, one deep mechanical trench, 240 meters long and up to 3 meters deep, was dug in the rock across the newly interpreted mineralized structure and assayed an average of 3.5 g/t over 155.7 metres. The program as a whole, in this case including drilling, road cutting for drill platforms plus additional geological mapping of the mineralized area, delivered valuable insight into the geological and structural gold associations within the B Zone.
VP Exploration Maurice Giroux comments: “This first drill program was premised on the theory that the gold was contained in a NE sub-vertical sheared structure. Because this first interpretation of the geology proved to be incorrect the holes were drilled sub-parallel to and not through the newly interpreted mineralized structure, and the gold mineralization that was encountered was near the surface in the upper section of a diorite sill. As the drilling and mapping continued it appeared that the gold is associated with a diorite sub-horizontal intrusion and a new 240-meter trench dug in the rock across the mineralized structure assayed an impressive average of 3.5 g/t gold over 155.7 metres. While the initial drill program did not support our first theory of the source of the gold at Zone B it did provide us with fresh insight into the Zone B’s complex geology. We do consider the overall program to be encouraging and are looking forward to continuing the exploration at Tichka Est at Zone B with now the new geological model factored in and also at Zones A and C which also include diorite intrusives.”
Based upon the mapping and trenching to date and drill cuttings observation from this initial RC program, the geological and structural association of the gold mineralisation appears to be unusual. Within the diorite, the gold mineralisation is found within numerous vertical oxidised carbonated breccia within an apparently decametric unaltered horizontal diorite intrusive. The vertical gold bearing brecciated structures are limited to the upper horizon of a diorite body and are not observed in the intruded rock. The average attitude of the gold brecciated structures is SSE and is dipping roughly 750W.
The mechanical trench which cut across the vertical mineralized upper diorite body was mapped carefully and sampled over a length of 240 metres. This sampling is considered to be the equivalent of a horizontal core drill hole across the entire mineralized section. Within a 155.7 metres long section of this horizontal exposure, a total of 41 vertical mineralized breccia or oxidized carbonated gold mineralized structures each averaging 60 cm in width have been counted and the overall sampling resulted into an average true width of 3.5 g/t Au/155.7 metres (see fig1). Five holes confirm the gold mineralisation in the diorite near or at the upper contact of the sill and the results are listed in the following table.
| HOLE # | FROM – TO (metre) | GOLD GRADE |
| Tb2022r3 | 12 – 16 | 3.30 g/t over 4 metres |
| Tb2022r6 | 4 – 10 | 3.03 g/t over 6 metres |
| Tb2022r15 | 6 – 12 | 0.40 g/t over 6 metres |
| Tb2022r16 | 1 – 10 | 3.71 g/t over 9 metres |
| Tb2022r18 | 0 – 3 | 0.51 g/t over 3 metres |
| Tb2022p01 horizontal section of mineralized breccia | 75.0 – 230.7True width | 3.5 g/t over 155.7 metres |
Fig 1: SSE mineralised section: average of 3.5 g/t over 155.7 metres
Conclusion:
This initial drill program of the B Zone of the Tichka Est project has given Stellar a better understanding of the unusual mineralisation encountered. The conclusions drawn from the program will be very helpful in planning the follow-up work that will be necessary to understand this type of structural mineralized setting and define the extent of this mineralized diorite body.
Technical Information and Quality Control/Quality Assurance Notes
The RC drilling and mechanical trenching was supervised by M. Jacques Marchand, an independent consulting geologist, Stellar’s project manager and a Qualified Person as defined in NI 43-101.
Sample collection was by two experienced senior local geologists under the supervision of Yassine Belakbir, 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.
A total of 639 samples were sent to Afrilab in Marrakech for this program. This number included 11 standards, 12 duplicates and 12 blanks samples that were added to the batch for the purpose of quality control, and all were well within the acceptable limits.
About Tichka Est Project, Morroco
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 easily accessible year-round via national and regional roads to the village of Analghi located near the mineralized gold zone. Follow up on gold sampling results reported by ONHYM lead Stellar to the discovery of 4 extensive gold mineralized structures A, B and C and recently C2.
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.
The technical content of this press release has been reviewed and approved by M. Jacques Marchand B. Sc. Eng. / Engineer Geology, 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.
