Montreal, February 8, 2022– Stellar AfricaGold Inc., (TSX-V: SPX, OTCQB: STLXF, FSE: 6YP1) (“Stellar” or the “Company”) is pleased to announce the positive results of the recently completed stream sediments sampling program covering 100% of Permits 3738988 and 3738989 which the Moroccan Office Nationale des Hydrocarbures et des Mines (“ONHYM”) recently included in the Tichka Est Project exploration agreement (see News release January 11, 2022). The two permits, which cover 28 km2, are to the North and East of Permit 183369 which hosts gold structures A and B previously announced. See Figure 1 below.
Commentary
“I am excited about the results for the recent stream sediments sampling program” said Stellar President François Lalonde. “The discovery of seven anomalous mineralized zones containing gold, silver, copper, lead and zinc is extremely encouraging for future exploration at Tichka Est especially after factoring in Stellar’s previous gold discovery zones on permits contiguous to these. Stellar continues to actively explore these permits and results will be announced when available.”
Stream Sediments Results
The stream sampling program which was conducted by Atlas GéoServices of Marrakech, Morocco revealed seven zones of anomalous mineralization including both precious and base metals. The seven anomalous zones included combinations of gold, silver, copper, lead and zinc and each zone includes from two to five minerals except Zone 7 which is purely a silver anomaly.
To summarize the stream sampling program identified:
- 6 zones anomalous for gold (Au) (see Figure 2 below)
- 5 zones anomalous for silver (Ag) (see Figure 3 below)
- 2 zones anomalous for copper (Cu) (see Figure 4 below)
- 3 zones anomalous lead (Pb) (see Figure 5 below)
- 3 zones anomalous zinc (Zn) (see Figure 6 below)
In conclusion, Stellar is very encouraged with the results of this program. The discovery of strong anomalous zones of both precious metals (gold and silver) and base metals (copper, lead and zinc) warrants immediate follow-up exploration. Stellar’s technical crew is on site searching for up-stream surface occurrences of new mineralized structures which will add to structures A and B already identified at surface with gold mineralization in trenches over an aggregate strike length of over 1,200 metres. All new identified surface areas of interest will be sampled and trenched and the data included in the planning of upcoming drilling programs.
Figure 1: LOCATION PERMITS 3738988 AND 3738989
Figure 2: Zones anomalous for gold
Figure 3: Zones anomalous for silver
Figure 4: Zones anomalous for copper
Figure 5: zones anomalous for lead
Figure 6: Zones anomalous for zinc
Methodology, technical information and quality control notes
Stellar mandated Atlas GéoServices of Marrakech, Morocco, to design and complete an extensive stream sediments sampling programs on two new permits which appear to share geology similar to the permits hosting discovery structures A and B.
The stream sediments sampling program consisted of first tracing the drainage network of the area on a Google earth image and then systematically sampling the main watercourses as well as the primary tributaries. The objective was to locate gold and base metals anomalies in the fine sediments in the beds of the streams and tributaries to better focus further prospecting upstream and locate the source of any in situ precious and base metals.
A total of 140 samples were taken in the active beds of major streams and their primary tributaries. Each sample was screened on site to remove large fraction material and smaller fraction materials were bagged for assay and sent to the African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco, where samples were crushed and screened to -125 microns for Fire Assay for gold and ICP analysis for base metals.
Sample collection was conducted by two experienced senior geologists of Atlas GéoServices under the supervision of Yassine Belkabir, Stellar’s Director in Morocco, and Dr. Ali Saquaque, Stellar’s Technical Advisor for Africa. The samples were bagged on- site and stored in safe areas until being transported to Afrilab in Marrakech for analysis.
In addition to the 140 samples and for the purpose of quality control, 24 extra samples were added to the batch, 8 standards, 8 duplicates and 8 blanks samples. Two standard grades were used in this case. All standards analysis results fall within the tolerance range of the original samples. The duplicates all show the reliability of the analysis. 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 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 2 extensive gold mineralized structures A and B.
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 national and regional roads to the village of Analghi located near the mineralized gold zone. Stellar also holds the Namarana Gold Project in Mali and 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
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.
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.
