Stellar Africagold Awarded 52 KM2 Final Arrete FOR Namarana GOLD Permit IN Mali
STELLAR AFRICAGOLD AWARDED 52 KM2
FINAL ARRETE FOR NAMARANA GOLD PERMIT IN MALI
Vancouver, December 14, 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 the final grant of a 52 km2 exploration permit in southwest Mali.
NAMARANA PROJECT MALI
Stellar, through its 100% subsidiary Stellar Pacific Mali SARL, has secured the final approval for a 52
km2 gold exploration permit in southwest Mali. The Namarana Permit is located near the village of
Namarana, Circle of Kangaba, region of Koulikoro, near the border with Guinea approximately 100 km
W-SW west of Bamako, the capital.
Commentary
François Lalonde, President and C EO commented: “ We are excited to receive the grant of the full
Namarana permit. The encouraging results obtained from Stellar’s 2021 reconnaissance program ,
which are consistent with past observations and with Newmont’s interpretation of its airborne mag
survey, indicate that sites 3 and 4 are close to drill ready. Plans are now underway for a short program
of surface trenching early in 2022 to confirm the geological and structural features at those specific
locations. Subject to positive results a drill program would follow.”
Background to the Namarana Acquisition
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 in Guinea, just across the international
boundary from Namarana in Mali. Although Stellar had acquired the Namarana permit because it was
geographically contiguous to and geologically along strike from Balandougou , Stellar did not apply for
the renewal of Namarana because Stellar’s management attention and financial resources were
committed to Balandougou. However, the Namarana area remains as geologically interesting now as it
was then, and with Stellar refocussing on exploration and in a stronger financial position, Namarana has
once again become an area of considerable interest and in 2020 Stellar was awarded a prelim inary
‘look-see’ exploration authorization for Namarana.
Prior Exploration
In 2012 Newmont Mining, in association with Stellar, conducted a field reconnaissance and an airborne
magnetic survey over the original 132 km2 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 t o the newly awarded Namarana
exploration a uthorization. Within a 52 km2 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 the 2012 Newmont -Stellar field work. During the 2012
geophysical survey Newmont reported 4 significant grab sample assay results (48.4 g/t Au, 1.33 g/t
Au, 2.16 g/t Au, and 1 .14 g/t Au) taken from quartz veins in the northern -most artisanal mine sites.
These sites, labelled numbers 3 and 4 on the figure below, is at the contact of a small diorite intrusion
clearly visible on the magnetic survey and is a priority target for Stellar.
During the summer, 2021 Stellar conducted a follow-on reconnaissance program to further evaluate the
gold potential of the Namarana area prior to filing an application for a full Exploration Permit over the
same area. The entire 51 km2 was visited by Stellar’s senior consultant geologists, and within the Permit
area 11 artisan mine sites were visited, mapped and sampled. (See mine sites location figure below)
Location map - Namarana Artisan Mines Sites
A total of 172 grab samples were taken and sent to SGS Bamako laboratory for fire assay analysis.
Twenty-five (25) samples returned gold grades greater than 0.30 g/t Au and 13 returned grades ranging
between 1.0 g/t Au and 5.7 g/t Au primarily in some quartz veins running roughly north south. The
samples were taken from either surface exposures or from below ground inside some of the artisan
mine pits to as deep as 6 metres in quartz vein systems exposed by the artisan mining activity.
Mine sites 3,4,5 and 2 were considered priority as they all show primary mineralisation in quartz veins,
some quartz veins still outcropping while others were observed at depth in artisanal pits. Although all
surface showings and underground quartz veins had been extensively mined by orpailleurs, all 13
samples grading between 1.23 g/t Au and 5.70 g/t Au were taken at those 4 sites.
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 the Tichka Est Gold Project in the Atlas
Mountains of Morocco.
Stellar’s President J. President François Lalonde can be contacted at 514-994-0654 or by email at
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.
On Behalf of the Board
J. François Lalonde,
President and CEO
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that
term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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 b ased 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 wi ll 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 i ntegrate acquired
assets; legislative, political or economic devel opments 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 enviro nment; 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, metallurgic al recoveries,
capital and operating costs of such projects, and the future prices for the relevant minerals.