Stellar Africagold Submits Environmental Impact Assessment and Launches Trenching Program ON Priority GOLD Targets at Namarana GOLD Project IN Mali
STELLAR AFRICAGOLD SUBMITS ENVIRONMENTAL IMPACT
ASSESSMENT AND LAUNCHES TRENCHING PROGRAM ON PRIORITY
GOLD TARGETS AT NAMARANA GOLD PROJECT IN MALI
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 mechanical trenching program of over 1,000 meters on priority gold
targets on the Namarana Permit where a total of 11 artisan mine sites have been mapped and
sampled. (see Namarana mine sites location map below.)
Namarana Mines Sites Location Map
Mechanized Trenching Program
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 a minimum 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 oxidize d quartz
veins. The prog ram will cut trenches across the entire structure that run N140 o to N170 o as
observed in outcropping quartz veins and in artisans’ pits. (See pictures below)
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 a n 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 2,3,4,5, 6 and 9 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 2,3,4,5 and 6.
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 m ineralisation was found
principally in quartz veins filling extension structures of second generati on, most probably
created during the emplacement of the diorite intrusion creating a favorable environment to the
circulation of mineralized fluids.
Stellar’s first priority is definitely Mine Site # 4, the most prolific 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. See pictures
of mineralized quartz veins below.
Quartz vein observed in pit Site 4 Quartz vein outcropping site 4
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
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 law s 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. As sumptions 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 comm odities (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 a nd 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 develop ment; contests over title to
properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining b usiness. 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.