Vancouver, March 30, 2022 – Stellar AfricaGold Inc., (TSX.V: SPX, OTCQB: STLXF, TGAT: 6YP1 and FSX: 6YP1) (“Stellar” or the “Company”) is pleased to announce the results of the 5 trenches across Zone 4 from the trenching program at the Namarana Gold Project in Mali.
Results Summary
Stellar is pleased to announce the assay results from Zone 4 of the mechanized trenching program at the Namanara Gold Project. New results include 4.40 g/t Au over 10.0 meters (including an internal interval of20.85 g/t Au* over 2.0 meters) and 11.48 g/t Au over 4.0 meters. These new results from all 5 trenches of Zone 4 are very consistent with the previous results of trench T4-2 which included 2.9 g/t Au over 16 meters (including 6.4 g/t Au over 3 meters including 12.15 g/t Au over 1 meter) (news release March 8, 2022). With these results Stellar can confirm the discovery of an extensive high-grade gold structure on Stellar’s 100% owned property in Mali. (see figure 1 below) Planning for a follow-on drill program is underway.
Assay Results
Trench 4-1
- From meter 22 to 25: 0.36 g /t Au over 3 meters
Trench 4-2
- From meter 01 to 07: 0.5 g/t Au over 7 meters
- From meter 13 to 16: 0.22 g/t Au over 4 meters
- From meter 33 to 49: 2.90 g/t Au over 16 meters including 6.24 g/t Au over 3 meters
- From meter 50 to 56: 2.34 g/t Au over 6 meters including 3.47 g/t Au over 2 meters
Trench 4-3
- From meter 11 to 28: 0.80 g/t Au over 17 meters including intervals of 2.59 g/t Au over 1.0 meter, 3.42 g/t Au over 1.0 meter and 3.02 g/t Au over 1.0 meter
- From meter 59 to 68: 0.45 g/t Au over 9 meter including 2.41 g/t Au over 1.0 meter
Trench 4-4
- From meter 01 to 10: 4.40 g/t Au over 10.0 meters including 20.85 g/t Au* over 2.0 m
*Note: This interval included a sample that assayed at >100 g/t Au which was capped at 30 g/t Au. Due to ground conditions at the SouthWest end of the trench, T4-4 was stopped at meter 01 while still in mineralization and remain open.
Trench 4-5
- From metre 13 to 14: 9.2 5 g/t Au over 1.0 meter
- From meter 19 to 23: 11.48 g/t Au over 4.0 meters
About the Namarana Trenching Program.
The Namanara trenching program called for a total of eleven trenches, five trenches on site #T4 reported here, four trenches on site #T3 and two trenches on site #T6. All trenches have been completed, sampled and the assays sent for assaying. As reported on March 8, 2022, visually all trenches appeared to have intersected the targeted mineralized zones and the assay results from the trenches at Site 4 appear to corroborate that visual inspection. Assay results from trenches at sites #6 and #2 are pending and will be released once they have been received and compiled.
Figure 1: Site 4 Trenching Results
The high-grade intercepts of trenches T4-3, T4-4 and T4-5 indicates that the mineralized zone extends towards the S/E. The contractor stopped trenching at T4-5 as it reached the S/E due to the thickness and the hardness of the hard pan cover. However, these results are sufficiently encouraging that Stellar has begun planning for a RC drill program to follow up on the extension of the T4 structure. Meanwhile, Stellar is waiting for the results of 2 trenches T6-1 and T6-2 located along strike approximately 1.5 km to the S/E. The mineralisation observed in those 2 trenches appears to be similar to the mineralization in the T4 zone. (see Fig. 2, Namarana local Interpretative geology)
Fig 2 Namarana Local Interpretative Geology
Assays from the initial prospecting and sampling program from those artisan sites assayed positively for gold. During that program a total of 172 grab samples were taken along the 130o structure of which 25 samples returned gold grades higher than 0.30 g/t and 13 returned grades ranging between 1.23 g/t Au and 5.7 g/t Au. (News Release December 14, 2021)
The gold showings at those artisan mine sites are closely associated to and located along a major NW-SE structure at the contact or near the contact of a Diorite intrusion. Gold mineralisation was found principally in quartz veins filling extension structures of second generation, most probably created during the emplacement of the diorite intrusion creating a favorable environment to the circulation of mineralized fluids.
On December 8, 2021, Stellar’s 100% owned Mali subsidiary, Stellar Pacific Mali SARL, was awarded the Namanara Exploration Permit, a 52 Km2 in area located 130 km NW of Bamako in the Kankaba Circle of the Koulikoro district. This award of a full exploration permit followed an earlier short-term ‘look-see’ exploration authorization.
During the window of the ‘look-see’ authorization an extensive reconnaissance program was conducted over the Namarana Permit area. A total of 11 artisan mine sites were visited, mapped and sampled.
Quartz vein observed in pit Site 4
Quartz vein outcropping at Site 4
Technical and Quality Assurance/Quality Control Notes
Sample collection was done by a team of experienced senior local geologists under the direction of Maurice Giroux, V.P. Exploration and COO of Stellar. The samples were bagged at the sampling site and stored in safe areas until being transported to SGS in Bamako for analysis.
A total of 245 samples were sent to the lab. In addition, for the purpose of quality control, 10 standards, 7 duplicates and 7 blanks samples were added to the batch and are well within the acceptable limit. The blank sample values were all below the detection limit for gold.
New Stock Exchange Listing of Stellar Shares
Stellar has listed its shares for trading on the Tradegate Exchange, Berlin, Germany, part of the Deutsche Börse AG Group. The Tradegate Exchange specializes in executing orders for private investors. Stellar is also listed on the Frankfurt Stock Exchange which is part of the Deutsche Börse AG Group. Stellar’s trading symbols for both exchanges is TGAT: 6YP1 and FSX: 6YP1)
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 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 road 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 Gregory P. Isenor, 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. 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.
