(TheNewswire)
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VANCOUVER, BC – (TheNewswire – October 9, 2024) STELLAR AFRICAGOLD INC. (TSXV: SPX) (the “Company” or “Stellar”) is pleased to announce that it has completed a comprehensive review of satellite imagery covering the Company’s 395.8 square kilometers Zuénoula Gold Permit in Côte d’Ivoire. A concentration of artisanal mining activities that appear to align with high densities of lineaments were identified reinforcing the prospectivity of the identified gold-mineralized target areas which will be the focus of ground exploration activities including a program of community engagement meetings and a preliminary site visit underway now which will be followed by a mapping and sampling survey over areas of interest.
Zuénoula Geology Favourable to Gold Mineralization
The Zuénoula gold exploration permit, which spans a significant area totalling 395.8 square kilometers, is situated at a critical geological juncture between granitoid formations and the Birimian greenstone belt along a prominent regional NE–SW trending shear zone, a formation known for its potential to host gold mineralization. Stellar’s Zuénoula Gold Project is presently targeting a 22-kilometer-long section of that shear zone, where initial geophysical and geological data suggest a strong correlation between the regional shear zone and the potential for discovery of gold-bearing structures.
Figure 1: Regional Geology Map highlighting
the favorable geological formations at the Zuénoula permit.
Figure 2: Historic air magnetic survey illustrating
the shear zone corridor within the Zuénoula permit.
Satellite Imagery Confirms Artisanal Mining Activities and Prospective Targets
In September 2024, Stellar completed a comprehensive satellite imagery study to refine and prioritize prospective areas within the permit. RADARSAT-1 data was used to create an enhanced lineament map, and Landsat imagery was leveraged to delineate lithological boundaries. The analysis revealed a concentration of artisanal mining activities that aligns with high density of lineaments, reinforcing the prospectivity of the identified gold mineralized targets.
Figure 3: Satellite imagery showing the identified artisanal mining activities overlain with lineament density data.
Click Image To View Full Size
Community Engagement and Initial Field Visits
Stellar’s in-country team is currently conducting its first site visit, meeting with local communities from the four primary settlements within the Zuénoula permit area. Discussions were also held with the Director of Mines for the Bouaflé region and Zuénoula’s governing administrative authorities. These interactions are integral to Stellar’s commitment to responsible exploration, encouraging open communication, and fostering strong relationships with local stakeholders.
The field will also visit prospective areas identified by the satellite imagery analysis and make preparations for follow-on mapping and soil geochemistry campaign. This groundwork will ensure that exploration activities are conducted efficiently and in alignment with both technical and community considerations.
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 Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1.
The Company has its head officed in Vancouver, BC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration projects are the Company’s recently granted, highly prospective 395.8 square kilometer Zuénoula gold exploration permit in Côte d’Ivoire and its advancing 82 square kilometre Tichka Est Gold Project in Morocco for which the extension to the earn-in option is currently being negotiated with ONYHM, the National Office of Hydrocarbons and Mines, Morocco.
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.
Stellar’s President and CEO J. François Lalonde can be contacted at 514-994-0654 or by email at lalondejf@stellarafricagold.com
Additional information is available on the Company’s website at www.stellarafricagold.com.
On Behalf of the Board
J. François Lalonde
President & Director
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.
Disclaimer & Forward-Looking Statements:
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.
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