Stellar Pacific Ventures Intersects 25 Meters of 2.55 g/t Gold at the Solotomo Discovery, Guinea West Africa |
| Marketwire.com - Feb 14, 2011 |
MONTREAL, QUEBEC--(Marketwire - Feb. 14, 2011) - Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") is pleased to announce the first assay results of a systematic drilling campaign carried out on the SOLOTOMO gold discovery which is located in the center of the Company's 735 km2 Balandougou Project in Guinea West Africa.
The first four reverse circulation holes returned large intersections of economic grades in B-1 and B-3 anomalies, including results of 2.55 g/t Au over 25 meters in hole B1-12 and 3.66 g/t Au over 9 meters in hole B3-33. Grades and width are concordant with the results obtained in the trenches previously announced. The following table shows a compilation of the results received so far:
REVERSE CIRCULATION CORE DRILLING HIGHLIGHTS SOLOTOMO AREA
Anomaly Hole # from To Au (g/t) Width (m)
B1 B1-12
including 12.0
13.0 38.0
29.0 2,55
3,15 25.0
16.0
B3 B3-33
including 12.0
12.0 21.0
17.0 3,66
5.15 9.0
5.0
B3 B3-23 9.0 24.0 1,41 14.0
B3 B3-12 4.0
19.0 9.0
30.0 1,35
1,57 5.0
11.0
A series of drill sections on a 50-metre spacing grid were completed over the original gold discovery (reference: Stellar Pacific Ventures press release in Stockwatch news dated 2010-09-08).
A total of 120 holes were drilled to an average depth of 70 metres on four (4) extensive gold in soil anomalies, namely, anomalies B1 to B4. (See Fig on the following link: http://file.marketwire.com/release/GEOCH_FOR_2011.jpg
Anomalies B1 to B4 are located just east of the Solotomo artisan mine site and are part of a system of NW/SE and NE/SW structures. Geological observation from trenches suggest that the gold mineralisation on the Solotomo discovery occurs in quartz - carbonate veins hosted within a well preserved and very deformed Sericite schist trending NW and dipping to the East. One form of disseminated alteration most commonly noted in oxidized rocks is quartz-sericite-pyrite (QSP) alteration. This alteration type is not distinctly different in coloration in fresh core and is thus difficult to detect in that state. Surface weathering converts the sericite to white kaolinite creating a bright white color alteration distinguishable even at great distance when exposed in trenches, artisan diggings and drill pads. This kind of alteration is evident in the proximity of the Solotomo artisan pits and the white kaolinite is visible from great distance.
Soil geochemistry is proven to be the most efficient exploration method used to find large gold deposits in a lateritic geological environment. A majority of gold deposits in West Africa has been outlined by this method. Gold anomalies can be very low grade, a few tenths of a gram, generally, which represents an important indicator. In the case of Solotomo area, the company has found numerous soil samples grading over 1.0 g/t Au and up to 13.8 g/t Au. In many cases, soil geochemistry signature reflects the deposits found underneath those anomalies.
Direct observation of the gold geochemistry of the area suggests the presence of two different sets of structures oriented north 70 degrees east and north 120 degrees east. Higher grades seems to be associated with the north 120 degrees east structures, and possibly with the intersection of both structures as it looks to be the case for the Solotomo mineralized stockworks.
ABOUT BALANDOUGOU PROPERTY:
The Balandougou property is located 100 kilometers to the North of Siguiri, in Upper Guinea, close to the Mali border. It is composed of four contiguous permits covering an extensive area of 606 km2 in Guinea and of the NAMARANA Permit covering 132 Km2 adjacent and across the boarder on Mali side.
In 2007, GoldenFrank Resources Inc., now a wholly-owned subsidiary of Stellar Pacific Ventures Inc., bought an 80% interest in the property and signed an option to buy the remaining 20% from the Guinean counterpart. Further, the Company has optioned 51% of the Guinea portfolio to Ultragold Holding LLP of Denver Co in consideration of Ultragold expending US$ 1,5 million in exploration work on the Balandougou Property.
To date, more than US$ 2.0 million has been spent in exploration work by the JV partners and the following work has been completed:
* Compilation, geological reconnaissance and sampling of main gold occurrences by RSW Inc, and NI 43-101 compliant Independent Person Assessment Report completed.
* 5,000 metres of RC drilling over 3 different targets done in 2009.
* Data consolidation of a regional soil geochemistry covering most of the Property at a scale of 1000 m X 80 m sampling grid.
* Detailed soil geochemistry at a scale of 200 m X 50 m sampling grid over an area of 65 Km2 (+/- 6,500 samples) Solotomo Area.
* A 5 trenches program over best gold anomalies and channel sampling of all trenches in Solotomo Area.
* 8,000 metres of RC drilling to test 4 gold anomalies which has returned economic values
Although the emphasis has been on the impressive Solotomo gold anomalies, it is important to note that a dozen more gold in soil anomalies and gold occurrences on the property need further investigation. Gold occurrences like Keniebani, Mawren and Fadaninda all show extensive quartz veins systems with visible gold and some sampling of quartz veins returned impressive results as stated in the NI-43-101 assessment Report
On the Niagassola permit, the main gold occurrence is the Kéniébani Artisan gold mine. This active gold digging site extends for at least 800 metres along a major quartz veins system. The veins are estimated to strike N 55°E with a sub vertical dip. Eight quartz blocks samples collected on this site yielded gold values ranging between 7.2 and 465 g/t Au.
East of the Kéniébani artisanal mine site, a quartz vein is exposed in a trench on the side of a hill, where grab samples returned grades of 2.26 and 20.7 g/t Au.
On the SOCOSGUI permit, ten (10) gold occurrences were visited. Three (3) of them (Fadaninda, Mawren and Solotomo) are considered as high priority targets.
Fadaninda consists of a quartz vein estimated to strike N10°E with a subvertical dip. Two samples collected on this site yielded 62.0 and 108.0 g/t Au. Mawren is a quartz vein estimated to strike N25°E with a subvertical dip. A sample from the artisan mine tailings returned 154 g/t Au.
At Solotomo, artisanal digging exposes a stockwork of quartz veinlets in a fine grained granitic rock and the overlying laterite. Three samples collected on this occurrence gave 33.9, 21.1 and 12.3 g/t Au.
The company also owned a major interest in the Siguiri, Saraya and Mandiana Permits, covering 361 km2 bringing their land position in Guinea to an extensive 1099 km2 of prolific gold terrain.
About Stellar Pacific Ventures
Stellar Pacific Ventures (TSX VENTURE:SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada and Africa.
Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.
The technical content of this press release have been reviewed and approved by Mr. Maurice Giroux, a Qualified Person as defined in NI 43-101 regulation.
Neither 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.
For more information, please contact
Stellar Pacific Ventures Inc.
Maurice Giroux
President and CEO
514-866-6299
514-866-8096 (FAX)
Ress.stellar@bellnet.ca
www.stellarpacific.ca
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- Posted: 2011-02-14 09:16:19
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