Stellar AfricaGold Completes First Drill Hole at Tichka Est, Morocco, and Grants Performance Share Units

Core Viewpoint - Stellar AfricaGold Inc. has successfully completed drill hole TCK-001 at the Tichka Est Gold Project in Morocco, confirming the geological model and anticipating assay results to validate gold potential [1][5]. Drill Program Details - Drill hole TCK-001 was completed to a total depth of 225 meters as part of a 1,500-meter summer diamond drill program at Zone B, covering an area of approximately one square kilometer within the 82 km² Tichka Est Gold Project [2]. - The drilling intersected multiple horizons of fractured diorite between depths of 82 meters and 176 meters, including significant intervals of diorite sill [4]. Geological Findings - Observations from drill hole TCK-001 indicate potential mineralization is predominantly vein-hosted and fracture-controlled, with subvertical quartz ± sulphide veins [4]. - The geological features observed are consistent with those reported in surface trenches where gold mineralization was previously identified [4]. Sample Preparation and Assays - All mineralized intervals from TCK-001 have been logged and marked for sampling, with the first batch of samples expected to be dispatched to Afrilab for assay results anticipated in September [3]. Performance Share Units Granted - The company granted 650,000 Performance Share Units (PSUs) to Dr. Paul Kitto, contingent upon achieving a total of 600,000 ounces of Inferred and Indicated gold resources [5][6]. - Each PSU allows the holder to acquire one common share of the company upon meeting specific performance conditions [6]. Project Overview - The Tichka Est Gold Project consists of seven permits covering an area of 82 km² located in the High Atlas region of Morocco, approximately 90 km south of Marrakech [9]. - Under an earn-in agreement, the company can earn an 85% interest after incurring exploration expenditures totaling US$2.39 million (C$3.5 million) over three years [9]. Exploration Progress - Early-stage exploration has identified three gold-bearing zones, with additional regional sampling revealing numerous anomalous metal zones warranting further investigation [11].