Drill Results
Stellar AfricaGold - Tichka Est Gold Project Momentum Builds as Technical Program Advances; High-Grade Rock Sample of 218.15 g/t Au Returned Between Zones A and B
[Exploration Update]

Executive Summary
- Date: April 23, 2026
- Headline: Tichka Est Gold Project Momentum Builds as Technical Program Advances; High-Grade Rock Sample of 218.15 g/t Au Returned Between Zones A and B
- Core Announcement: Stellar AfricaGold reported a high-grade rock sample assaying at 218.33 g/t Au (Sample TE-Raz-E2) located in a dyke structure between Zones A and B at the Tichka Est Gold Project in Morocco.
- Technical Program: The company is executing an integrated program involving 3D geological modelling, remote sensing (Viridien Group), structural analysis (Arethuse Geology), and collaboration with Mohammed VI Polytechnic University (UM6P).
- Drilling Context: Results are being used to prepare for a planned 5,000-metre diamond drilling campaign. A drone-based topographic survey covered approximately 6.5 km² of priority drill areas.
- Project Status: Tichka Est covers ~82 km² in the High Atlas region. Stellar can earn an 85% interest after spending US$2.39M over three years.
Material Impact
- News vs. Expectations: The news is incremental to the Phase II drill program announced on March 3, 2026. While a 218 g/t Au rock sample is high-grade, it represents surface sampling rather than drill core resource definition.
- Market Reaction Potential: Given the stock has declined from $0.28 (Sept 2025) to $0.10 (April 2026), this news may provide short-term support but lacks the fundamental weight of confirmed drill intersections to drive a sustained rally without follow-up assay results.
- Risk Assessment: Rock chip samples are prone to selection bias and do not guarantee continuity at depth. Investors should view this as confirmation of surface geology rather than a resource milestone.
- Capital Efficiency: The technical program partners (Viridien, Arethuse) suggest significant spend on modeling before drilling resumes, which may impact cash burn rates relative to the $4M raised in November 2025.
SPX · Price
Company Overview
- Company: Stellar AfricaGold Inc. focuses on gold exploration in North and West Africa.
- Flagship Project: Tichka Est Gold Project (Morocco).
- Location: High Atlas region, ~90 km south of Marrakech.
- Status: Advanced exploration; Phase II drilling planned for 5,000m.
- Key Zones: Zone A, Zone B (primary focus), and Zone C.
- Secondary Project: Zuenoula Gold Project (Côte d'Ivoire).
- Structure: Joint Venture with MetalsGrove Mining Ltd.
- Status: Early-stage soil sampling and LiDAR surveys; JV partner funding exploration spend up to US$6M for 80% interest.
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Jun 23, 2026 · 07:01