Montreal, February 1, 2022– Stellar AfricaGold Inc., (TSX-V: SPX) (“Stellar” or the “Company”) is pleased to announce that in accordance with the exploration convention agreement for the Namarana Exploration Permit, a Notice d’Impacts Environmental et Social (an Environmental and Social Impact Notice Report or “NIES”) of the proposed first-year exploration program on the Namarana Solofara Permit was completed and filed with the Mali government authorities.
Stellar is commencing 1,000 meter mechanical trenching program on priority gold targets on the Namarana Permit where a total of 11 artisan mine sites have been mapped and sampled. Februar(see Namarana mine sites location map below).
Namarana Mines Sites Location Map
Stellar has mobilized crews and heavy equipment to begin trenching at Namarana. The purpose of the trenching program is to clearly define the mineralized zone and to demonstrate a lateral extension. Definition of the mineralized gold zone is essential to maximize the effectiveness of subsequent drilling programs.
The mechanical trenching program will consist of digging 10 to 15 trenches of 50 to 100 meters in length to a depth of 3 meters across identified mineralized structures. The trenches will be mapped and sampled at 1-meter intervals in the mineralised sections. A total of 1,000 linear meters is budgeted for this initial program.
Stellar will start the trenching program on Site 4, the most prolific artisan mine site in the area, where historical high-grade grab samples by Newmont/Stellar in 2012 returned an impressive 48.4g/t Au in a grab sample taken from an outcropping brecciated and very oxidized quartz veins. The program will cut trenches across the entire structure that run N140o to N170o as observed in outcropping quartz veins and in artisans’ pits.
Although Site # 4 is defined as a top priority, the same approach will be applied at Sites 3, 5 and 2, all of which have shown noteworthy gold mineralization.
About the Namarana Permit
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 term 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. (see mine sites location fig.1 attached)
A total of 172 grab samples were taken and processed by fire assay at SGS Bamako Laboratory 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 mostly from within quartz veins running roughly NS and taken from surface exposures down to 6 metres deep in some of the artisan pits. (News Release December 14, 2021)
Artisan mine sites 3,4,5 and 2 are priority sites as they all have primary gold mineralisation in quartz veins, some still outcropping, and others observed deeper in the artisan pits. Although at some point all surface showings and underground quartz veins observed on the Namarana Permit were mined by orpailleurs, all 13 samples that graded between 1.23 and 5.70 g/t Au were taken at mine sites 3,4,5 and 2.
The gold showings at those four artisan mine sites are closely associated to and located along a major NW-SE structure at the contact of 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.
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 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. 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.
