Stellar AfricaGold Inc. is pleased to announce that it has secured four additional exploration permits in the immediate vicinity of its recent gold discovery at Tichka Est in Morocco and is commencing exploration of the newly acquired ground.
Stellar and ONYHM (the Moroccan Office Nationale des Hydrocarbures et des Mines), signed a January 11, 2022 addendum to the August 18, 2020 Tichka-Est 90-percent earn-in exploration agreement adding four new exploration permits and increasing the total to seven permits with a surface footprint of 82 square kilometers.
Two of the four additional permits are strategically located in relation to the two gold structures A and B recently discovered by Stellar’s extensive prospecting and trenching programs. The four new permits are within an agreed area of mutual interest prescribed in the original August 18, 2020 earn-in agreement. Pursuant to the January 11, 2022 addendum, Stellar has agreed to incur exploration expenditures of 2,600,000 MAD (Moroccan dirhams) (US$280,000) in the first year and 4,892,000 MAD (US$520,000) in year two on the new permits.
Tichka earn-in agreement
Stellar director Yassine Belkabir of Casablanca, Morocco and the African Bureau of Mining Consultants provided all necessary assistance in the negotiation and closing of the August 18, 2020 Tichka earn-in agreement with ONHYM, and provided essential transaction facilitation with respect to January 11, 2022 Tichka addendum.
With the addition of these four permits to the Tichka-Est Gold Project, Stellar is immediately commencing exploration on the new highly prospective ground. Historically, the first gold in the Tichka area was discovered following a stream sediment survey program, and Stellar is initiating an extensive stream sediments sampling program focussing initially on the creek and river networks of permits #3738988 and #3738989 where structures similar to Zones A and B have been observed. Additionally, in new permit #3738989, five new trenches will be excavated across an identified structure which runs NW-SE and shows quartz-ankerite-sulphide filling. This new structure is just to the north-east of Trench 6-B which sampled 3.4 g/t Au over 17 metres including 9.55 g/t Au over 4 metres.
The Tichka Est Gold Project, now comprised of seven permits aggregating 82 square kilometers, is in the High Atlas Mountain region of Morocco approximately 80-kilometres south-southwest of Marrakech, a region easily accessible by road.
Previously, an extensive follow-up reconnaissance and upstream prospection of stream sediments gold anomalies previously identified by ONHYM led Stellar to outlining two gold bearing structures. Two surface hand tool trenching programs discovered two extensive gold structures namely, Zone A and Zone B.