Vancouver – TheNewswire – February 15, 2021– J. François Lalonde, President and CEO of Stellar AfricaGold Inc., (TSXV:SPX) (OTC: STLXF) and (FSE:6YP1) (“Stellar” or the “Company”) is pleased to announce that construction of the drill sites access road at Stellar’s Tichka Est Gold Project in Morocco is well underway.
Tichka Est Gold Project, Morocco
The access road to the Tichka Est gold zones A and B is fully permitted and construction is underway.
“This new access road at Stellar’s Tichka Est Gold Project is especially exciting” said Stellar President François Lalonde “because we have been keenly waiting to get drill rigs onto Zone A and B. This heavy equipment access road is a critical ‘first step’ to preparation of drill pads and commencement of an anticipated major drilling campaign on zone B and A.”
“This access road of approximately 7.5 kilometers on mountainside (see Figure 1 below) will be the equivalent of a 7.5 km long trench within the area of the Tichka Est Gold Project” said Maurice Giroux, Stellar’s VP Exploration and COO. “The entire alignment of the road is within the periphery of Stellar’s permits so, in addition to providing drill site access, the road cut will provide valuable geological information across the lithology of the property possibly exposing new structures and revealing new mineralization. (See image figure 2 below) It is exciting to be able to defray the cost of a required infrastructure project by including an exploration benefit. During the construction window, the Company’s geological crew will map and sample all structures of interest for gold and base metals. I am optomistic that this will bring added value to the project by discovering new targets for the upcoming initial drill program. The gold potential of the Tichka Project is already apparent from the A and B structures that both showed high gold grades over good widths in surface trenching, and especially so for structure B that extends over more than 2 kilometers of strike length and has yielded intervals in Zone B trenches as high as 3.40 g/t Au over 20 meters including intervals of 5.23 g/t Au over 11 meters and 8.14 g/t Au over 5 meters; 4.64 g/t Au over 14 meters including 11.16 g/t Au over 5 meters; 3.4 g/t Au over 17 meters including 9.55 g/t Au over 4 meters and 4.55 g/t Au over 15 meters including an internal of 7.47 g/t Au over 6.0 meters in Zone B, and in Zone A 3.36 g/t Au over 10 meters including an interval of 8.73 g/t Au over 3.0 meters.” (See news releases April 21 and October 25, 2021).
Final permitting of the access road project followed government submissions and local community comsultations, and complied with all mandated conditions.
The estimated completion date for the road construction is approximately April 15, 2022. This is mainly due to the terrain which, because of the lack of space on the steep mountain flank, does not allow for more than one crew and one machine at a time to work on the leading end of road.
Figure 2 – Tichka Road in progress with exposed flank
About Tichka Est Project
The Tichka Est gold project, now 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 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 A and B.
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 national and regional roads to the village of Analghi located near the mineralized gold zone. Stellar also holds the Namarana Gold Project in Mali and three permits pending inCôte 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.
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.