(TheNewswire)
Montreal – TheNewswire - October 4, 2022 – Stellar AfricaGold Inc., (TSXV:SPX) (OTC:STLXF) ("Stellar" orthe "Company") is pleased to announce the results of itsinitial RC drilling campaign of the B Zone of the Tichka-Est projectin Morocco.
In this campaign 20 RC holes totalling 1,182 metreswere attempted. Seven holes were abandoned due to downhole rockmechanic’s problems, and the azimuth and drilling angle of 5 otherholes were changed during the program as the geologic structure wasreinterpreted. Of the completed holes gold mineralization wasencountered in five holes with significant intersections including 3.71 g/t over 9 metres , 3.03g/t over 6 metres and 3.30 g/t over 4 metres . Additionally, one deep mechanical trench, 240 meters longand up to 3 meters deep, was dug in the rock across the newlyinterpreted mineralized structure and assayed an average of 3.5 g/t over 155.7metres . The program as a whole, in this caseincluding drilling, road cutting for drill platforms plus additionalgeological mapping of the mineralized area, delivered valuable insightinto the geological and structural gold associations within the BZone.
VP Exploration Maurice Giroux comments: “ This first drill program was premised on the theory that thegold was contained in a NE sub-vertical sheared structure. Becausethis first interpretation of the geology proved to be incorrect theholes were drilled sub-parallel to and not through the newlyinterpreted mineralized structure, and the gold mineralization thatwas encountered was near the surface in the upper section of a dioritesill. As the drilling and mapping continued it appeared that the gold may be is associated witha diorite sub-horizontal intrusion and a new 240-meter trench dug inthe rock across the mineralized structure assayed an impressive average of 3.5 g/t gold over 155.7 metres . While the initial drill programdid not support our first theory of the source of the gold at Zone Bit did provide us with fresh insight into the Zone B’s complexgeology. We do consider the overall program to be encouraging and arelooking forward to continuing the exploration at Tichka Est at Zone Bwith now the new geological model factored in and also at Zones A andC which also include diorite intrusives.”
Based upon the mapping and trenching to date and drillcuttings observation from this initial RC program, the geological andstructural association of the gold mineralisation appears to beunusual. Within the diorite, the gold mineralisation is found withinnumerous vertical oxidised carbonated breccia within an apparentlydecametric unaltered horizontal diorite intrusive. The vertical goldbearing brecciated structures are limited to the upper horizon of adiorite body and are not observed in the intruded rock. The averageattitude of the gold brecciated structures is SSE and is dipping roughly 75 0 W.
The mechanical trench which cut across the verticalmineralized upper diorite body was mapped carefully and sampled over alength of 240 metres. Thissampling is considered to be the equivalent of a horizontal core drillhole across the entire mineralized section. Within a 155.7 metres long section of this horizontal exposure, atotal of 41 vertical mineralized breccia or oxidized carbonated goldmineralized structures each averaging 60 cm in width have been countedand the overall sampling resulted into an average true width of 3.5 g/t Au/155.7metres (see fig1). Five holes confirm the goldmineralisation in the diorite near or at the upper contact of the silland the results are listed in the following table.
HOLE # | FROM – TO (metre) | GOLD GRADE |
Tb2022r3 | 12 – 16 | 3.30 g/t over 4 metres |
Tb2022r6 | 4 – 10 | 3.03 g/t over 6 metres |
Tb2022r15 | 6 – 12 | 0.40 g/t over 6 metres |
Tb2022r16 | 1 – 10 | 3.71 g/t over 9 metres |
Tb2022r18 | 0 – 3 | 0.51 g/t over 3 metres |
Tb2022p01 horizontal section of mineralized breccia | 75.0 – 230.7 True width | 3.5 g/t over 155.7 metres |
Fig 1: SSE mineralised section: average of 3.5 g/t over 155.7 metres
Conclusion:
This initial drill program of the B Zone of the TichkaEst project has given Stellar a better understanding of the unusualmineralisation encountered. The conclusions drawn from the programwill be very helpful in planning the follow-up work that will benecessary to understand this type of structural mineralized settingand define the extent of this mineralized diorite body.
Technical Information and QualityControl/Quality Assurance Notes
The RC drilling and mechanical trenching was supervisedby M. Jacques Marchand, an independent consulting geologist,Stellar’s project manager and a Qualified Person as defined in NI43-101.
Sample collection was by two experienced senior localgeologists under the supervision of Yassine Belakbir, Stellar’sDirector in Morocco and by Dr. Ali Saquaque, Stellar’s TechnicalAdvisor for Africa. The samples were bagged atthe sampling site and stored in safe areas until being transported toAfrican Laboratory for Mining and Environment (“Afrilab”) inMarrakech for analysis.
A total of 639 samples were sent to Afrilab inMarrakech for this program. This number included 11 standards, 12 duplicates and 12 blankssamples that were added to the batch for the purpose of qualitycontrol, and all were well within the acceptable limits.
About Tichka Est Project, Morroco
The Tichka Est gold project, comprising seven permitsaggregating 82 square kilometres, is in the High Atlas Mountain regionof Morocco approximately 80 kilometres south-southwest of Marrakech, aregion easily accessible year-round via national and regional roadsto the village of Analghi located near the mineralized gold zone.Follow up on gold sampling results reported by ONHYM lead Stellar tothe discovery of 4 extensive gold mineralized structures A, B and Cand recently C2.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc . is a Canadian precious metalexploration company listed on the TSX Venture Exchange symbol TSX.V: SPX , theOTCQB ® Venture Market symbol OTCQB: STLXF, the TradegateExchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1 .
The Company maintains offices in Vancouver, BC and inMontreal, QC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration projects are its golddiscovery at the Tichka Est Gold Project in Morocco, and the Namaranagold Project in Mali.
The Tichka Est Gold Project is a grouping of sevenpermits covering an area of 82 km 2 . The Tichka EstProperty lies within the High Atlas WesternDomain about 80 km SSW of the city of Marrakech. The area isaccessible year-round by road to the village of Analghi located nearthe mineralized gold zone. The mineralized zone is accessible via aneight-kilometer gravel mountain road constructed by Stellar.
Stellar also holds the drill ready Namarana GoldProject in Mali. Namarana is a 52 Km2 that is 100% owned byStellar’s Mali subsidiary, Stellar Pacific Mali SARL. Namarana islocated 130 km NW of Bamako in the Kankaba Circle of the Koulikorodistrict.
The technical content of this press release has beenreviewed and approved by M. Jacques Marchand B. Sc. Eng. / EngineerGeology, a Qualified Person as defined in NI 43-101.
Stellar’s President J.François Lalonde can be contacted at514-994-0654 or by email at lalondejf@stellarafricagold.com .
Additional information is available on the Company’swebsite 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 Canadiansecurities laws concerning the Arrangement. Forward-lookinginformation reflects the Company’s current internal expectations orbeliefs and is based on information currently available to theCompany. In some cases forward-looking information can be identifiedby terminology such as "may", "will","should", "expect", "intend","plan", "anticipate", "believe","estimate", "projects", "potential","scheduled", "forecast", "budget" or thenegative of those terms or other comparable terminology. Many of theseassumptions are based on factors and events that are not within thecontrol of the Company, and there is no assurance they will prove tobe correct or accurate. Risk factors that could cause actual resultsto differ materially from those predicted herein include, withoutlimitation: that the business prospects and opportunities of theCompany will not proceed as anticipated; changes in the global pricesfor gold or certain other commodities (such as diesel, aluminum andelectricity); changes in U.S. dollar and other currency exchangerates, interest rates or gold lease rates; risks arising from holdingderivative instruments; the level of liquidity and capital resources;access to capital markets, financing and interest rates; mining taxregimes; ability to successfully integrate acquired assets;legislative, political or economic developments in the jurisdictionsin which the Company carries on business; operating or technicaldifficulties in connection with mining or development activities; lawsand regulations governing the protection of the environment; employeerelations; availability and increasing costs associated with mininginputs and labour; the speculative nature of exploration anddevelopment; contests over title to properties, particularly title toundeveloped properties; and the risks involved in the exploration,development and mining business. Risks and unknowns inherent in allprojects include the inaccuracy of estimated reserves and resources,metallurgical recoveries, capital and operating costs of suchprojects, and the future prices for the relevant minerals.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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