Stellar Africagold Awarded 50.2 KM2 Namarana Prospecting Authorization IN Mali
STELLAR AFRICAGOLD AWARDED 50.2 KM2
NAMARANA PROSPECTING AUTHORIZATION IN MALI
Vancouver, April 27, 2021– J. François Lalonde , President and Chief Executive Officer of Stellar
AfricaGold Inc., (TSX-V: SPX) ("Stellar" or the "Company") is pleased to announce that Stellar has been
awarded a 50.2 km2 Gold Autorisation d’Exploration (Authorization to Prospect) in southwest Mali.
NAMARANA PROJECT MALI
Stellar, through its 100% subsidiary Stellar Pacific Mali SARL, has secured a 50.2 km 2 Autorisation de
Prospection Gold Permit in southwest Mali. The Namarana Authorization is located near the village of
Namarana, Circle of Kangaba, region of Koulikoro, near the boarder with Guinea approximately 100 km
W-SW west of Bamako, the capital.
By way of background, in 2018, Stellar’s exploration interest and substantially all its financial resources
were focussed on the development of its Balandougou project just across the international boundary in
Guinea. Although Stellar had originally acquired the old Namarana permit because it was geographically
contiguous to and geologically along strike from Balandougou, Stellar did not apply for the final three-
year renewal of Namarana because the mandatory exploration expenditures required in Mali had not
been completed by the deadlines required as substantially all of Stellar’s management attention and
financial resources were being devoted to Balandougou. However, the Namarana area is as geologically
interesting now as it was then, and with Stellar refocussing on exploration and in a much stronger
financial position now than it was then, Namarana has once again become an area of considerable
interest.
In 2012 Newmont Mining, in association with Stellar, conducted a field reconnaissance and an airborne
magnetic survey over the original 132 km 2 Namarana permit owned by Stellar Pacific Mali SARL. The
motives and the objectives of this geophysical survey was the interpretation of the local geology. All of
this historical data was retained by Stellar.
In December 2020 Stellar’s local geologist conducted a field visit to the newly awarded Namarana
Authorization. Within the 50km 2 area of interest Stellar’s geologist reported 4 producing artisanal gold
mines sites and observed exposed gold bearing quartz veins extending along geological and
geophysical structures consistent with Stellar previous work. During the 2012 geophysical survey
Newmont reported 4 significant grab sample assay results (48.4, 1.33, 2.16, and 1.14 g/t Au) taken
from quartz veins in the northern-most artisanal mine site. This site is at the contact of a small diorite
intrusion clearly visible on the magnetic survey and is a priority target for Stellar.
With preliminary work completed and mineralized structures identified, Namarana is considered near
drill ready.
In Mali the Autorisation d’Exploration is a preliminary prospecting authorization granted for a 3-month
term to allow an interested applicant to conduct a more robust sampling of zones of interest on the
property and is a precursor title to the grant of a full Exploration Permit. Upon completion of this program
and subject to the results received, Stellar will complete the application for the full Exploration Permit.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian precious metal exploration company with offices in Vancouver, BC
and in Montreal, QC. Stellar President François Lalonde can be contacted at 514-992-0929 or by email
The technical content of this press release has been reviewed and approved by M. Yassine Belkabir a
Qualified Person as defined in NI 43-101.
On Behalf of the Board
J. François Lalonde,
President and 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.