Vancouver, BC October 11th 2023 – Stellar AfricaGold Inc., (TSX-V: SPX) (“Stellar” or the “Company”) reported last month that the terrible earthquake that struck Morocco was in the vicinity of Stellar’s flagship Tichka Est Gold Project in the province of Al Haouz, Morocco.
Resumption of Exploration Works
Roadway infrastructure is improving rapidly following swift mobilization from Morocco’s authorities. Last week, Stellar’s geologist was able to use the rehabilitated national roads to access Anarghi Village and the Tichka Est Gold property.
Stellar’s geologist reported that a portion of Stellar’s constructed 9 km mountain road has been cleared by the communities, and the rest of the road shows limited rockslides that can be cleared over the coming weeks. Notwithstanding, Stellar’s geologist was able to access Tichka Est’s Structure B, the primary drill target of Stellar AfricaGold.
Stellar confirms that exploration works are continuing at Tichka Est Gold Project.
Photo 1. Portion of Stellar’s Road Cleared by Communities
Donate Now to Support Moroccan Earthquake Relief
As part of Stellar’s efforts to assist communities near its Tichka Est project, Stellar provided tents for the communities of the Anarghi’s village whose homes were directly affected by the quake.
Photo 2. Tents Provided to the Residents of Anarghi Village
Near Stellar’s Tichka Est Gold Project
Stellar intends to maintain its “Go.Fund.Me” campaign active so it urges all readers to make a donation, whether large or small, to this urgent campaign to help these small local communities that may otherwise be overlooked.
The above link provides access to a Moroccan earthquake relief campaign (see below) which will deliver the funds accumulated from this campaign directly to the rehabilitation and reconstruction of the communities close to Stellar’s project.
Director Resignation
Stellar also announces that John Ryan has resigned as a Director of the Company. John has been a Board Member for more than 10 years and the Company thanks him for his services throughout that period.
About Tichka Est Gold Project 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 Anarghi located near the mineralized gold zone. Follow up on gold sampling results reported by ONHYM lead Stellar to the discovery of 3 extensive gold mineralized structures A, B and C.
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 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 advancing gold discovery at the Tichka Est Gold Project in Morocco as a 90% earn-in with its partner ONHYM, and its drill-ready Namarana Gold Project in Mali as well as the early-stage exploration permit of Djékanou 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 and CEO 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.
