CEO.CA Chairman's Briefing

(TheNewswire)

Vancouver, B.C. - TheNewswire - March 8, 2022 – Stellar AfricaGold Inc., (TSXV: SPX), (OTC:STLXF), (FSE:6YP1) ("Stellar" or the "Company") is pleased to announce the first results from the trenching program at the Namarana gold Project in Mali.

First Trenching Results from Namanana Gold Project, Mali

Stellar has received encouraging results from the trenching program at Stellar’s 100% owned Namarana Gold Project in Mali. The first trench across site T4, designated trench T4-2, returned assay results including intervals of 2.9 g/t Au over 16 meters (including 6.4 g/t Au over 3 meters including 12.15 g/t Au over 1 meter) and 1.5 g/t Au over 7 meters.

Eleven trenches have been completed to date. Visually all trenches appear to have intersected the targeted mineralized zones. (See figure 1 below)

Fig 1 Namarana structures and trenches results

Click Image To View Full Size

Eleven trenches have been completed to date: five trenches on site #T4, four trenches on site #T3 and two trenches on site #T6 (see figure 1 above). Based on visual inspection during channel sampling, all trenches at the T4 site appear to intersect the main sheared zones and the large quartz vein system that bisects the Namarana Permit and found in trench T4-2. Although T3 site is a different system with sheared zones parallel to and located 500 meters to the West of the T4 site, the system at the T3 site show the same geological and structural particularities, namely large primary quartz veins with associated mineralized quartz stringers. The samples from all trenches at sites T4 and T3 have been sent to the laboratory for assay and the results are pending.

Commentary

“I am very encouraged by the assay results from this first trench” said Stellar VP Exploration Maurice Giroux “and given that all of the trenches to date have hit the mineralized quartz zone I am keenly awaiting those assay results. It is an exciting time for Stellar.’

Assay Results from Trench T4-2 (see also Fig.1 below)

Trench T4-2 is the first of five trenches mechanically dug to a depth of four meters across the structure at site 4 as illustrated on the Namarana Mines Site Location Map (Figure 1 below). The trench is 66 meters long and intersected three gold-mineralised zones. The trench was channel sampled along the entire length and 66 samples were sent to SGS Laboratory for priority processing in Bamako to ensure a rapid return of assay results enabling the exploration team to better orientate the remainder of the trenches across T4.

Within trench T4-2, the main structure is a large gold-mineralised quartz vein injected in a sheared zone oriented N130o. This main structure cuts diagonally at N1300 across the entire Namarana property over a distance of more than five kilometers. All artisan mine sites identified by Stellar and labelled as sites 4, 6, 5, 2, and 9 will be trenched in this program, and all are closely associated to that primary quartz vein structure.

Figure 2 Namarana local Interpretative geology and trench locations

Click Image To View Full Size

Assays from the initial prospecting and sampling program from those artisan sites assayed positively for gold. During that program a total of 172 grab samples were taken along the 130o structure 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. (News Release December 14, 2021)

The gold showings at those artisan mine sites are closely associated to and located along a major NW-SE structure at the contact of Diorite intrusion. Gold mineralisation was found principally in quartz veins filling extension structures of second generation, most probably created during the emplacement of the diorite intrusion creating a favorable environment to the circulation of mineralized fluids.

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 an 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)

Sixty-six meter trench T4-2

Click Image To View Full Size

Quartz vein outcropping in trench T4-2

Click Image To View Full Size

Technical and Quality Assurance/Quality control Notes

Sample collection was done by a team of experienced senior local geologists under the direction of Maurice Giroux, V.P. Exploration and COO of Stellar. The samples were bagged at the sampling site and stored in safe areas until being transported to SGS in Bamako for analysis.

A total of 66 samples were sent to the lab. In addition, for the purpose of quality control, 3 standards, 5 duplicates and 2 blanks samples were added to the batch and are well within the acceptable limit. The blank sample values were all below the detection limit for gold.

Prikro Permit, Côte d’Ivoire

Due to a lack of encouraging results from 2021 exploration Stellar has determined not to seek renewal of the Prikro permit. The Company continues to pursue three permits pending in Côte d’Ivoire.

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 lalondejf@stellarafricagold.com.

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 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.

Copyright (c) 2022 TheNewswire - All rights reserved.