Montreal, April 13, 2022– Stellar AfricaGold Inc., (TSX.V: SPX, OTCQB: STLXF, TGAT: 6YP1 and FSX: 6YP1) (“Stellar ” or the “Company”) is pleased to announce more encouraging results from its trenching program at the Tichka Est Gold Project’s newly discovered Zone C confirming gold mineralized continuity and significant gold grades over more than 1 kilometer and still open along strike, and bringing the total mineralized strike of Zones A, B and C to over 2,200 strike meters.
The Zone C Gold Discovery
Following-up on a strong stream sediments gold anomaly announced February 2, 2022 Stellar has discovered a thirdgold mineralized structure at Tichka Est. This new Zone C is oriented east-west and is located to the east of Zone B. A Phase 1 hand tools trenching program at Zone C yielded substantial gold grades on a strike length of over one kilometer with mineralized widths of up to 7 meters including 5.81 g/t Au over 4 meters (see Figure 1 below).
Significant assay results of Phase I trenching:
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
Trench C5 0.88 g/t Au over 2 meters, scree area
Phase 2 Trenching Program
The second phase of hand tool infill trenching was designed to confirm the continuity of the mineralized structure and, if successful, to warrant incorporating Zone C in the planned drilling campaign. It is expected that drilling will be initiated once the Tichka Est access road is completed and drill pads aligned for best intercepts of the 3 structures are positioned along the three zones.
Significant assay results of Phase 2 trenching:
Trench C7: 3.18 g/t Au over 4 meters
Trench C8 trench abandoned due to scree overburden, no results.
Trench C9 2.60 g/t Au over 3 meters
Trench C10 2.55 g/t Au over 3 meters
Trench C11 1.55 g/t Au over 5 meters
Trench C12 2.06 g/t Au over 3 meters
Phase 2 Trenching Confirms Zone C Continuity and Grades
The Phase 2 trenching program has confirmed the continuity and grades of Zone C over a strike length of more than 1 kilometer. Zone C is 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. This newly discovered Zone C adds more than 1,000 strike meters of gold mineralization to the already announced 1,200 strike meters of Structures A and B together for a combined total of over 2,200 strike meters. This important new structure remains open to the East and at depth.
Figure 1. Tichka Est Zones A, B and C trench locations and assay results
Trench T11C: 1.55 g/t Au over 5 meters
Trench T10C: 2.55 g/t Au over 3 meters
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 channeled 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 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.
A total of 128 samples were sent to the lab for this program including 4 standards, 4 duplicates and 4 blanks samples that were added to the batch for the purpose of quality control, and all were 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 easily accessible by road. The area is accessible year-round by road via a national and regional 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 designated Zones A and B. The new Zone C was discovered by Stellar after its own successful 2022 stream sediments program and follow-up prospecting and trenching.
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 symbol TGAT: 6YP1 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 projects are its gold discoveries at the Tichka Est Gold Project in Morocco and on the Namarana Permit in Mali.
Tichka Est 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 Namarana Permit is a 52 Km2 permit in southwestern Mali where recent mechanized trenching has confirmed a significant new gold discovery.
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. 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.
