Fevb 14 25 Meters of 2.55 g/tFeb 14, 2011 10:30 ET
Stellar Pacific Ventures Intersects 25 Meters of 2.55 g/t Gold at the Solotomo Discovery, Guinea West Africa
M. Maurice Giroux reports:
MONTREAL, QUEBEC--(Marketwire - Feb. 14, 2011) -Stellar Pacific Ventures Inc. (TSX VENTURE:SPX)("Stellar" or the "Company") is pleased to announce the first assayresults of a systematic drilling campaign carried out on the SOLOTOMOgold discovery which is located in the center of the Company's 735 km2 Balandougou Project in Guinea West Africa.
Thefirst four reverse circulation holes returned large intersections ofeconomic grades in B-1 and B-3 anomalies, including results of 2.55 g/tAu over 25 meters in hole B1-12 and 3.66 g/t Au over 9 meters in holeB3-33. Grades and width are concordant with the results obtained in thetrenches previously announced. The following table shows a compilationof the results received so far:
REVERSE CIRCULATION CORE DRILLING HIGHLIGHTS SOLOTOMO AREA
Aseries of drill sections on a 50-metre spacing grid were completed overthe original gold discovery (reference: Stellar Pacific Ventures pressrelease in Stockwatch news dated 2010-09-08).
A totalof 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 Figon the following link: https://file.marketwire.com/release/GEOCH_FOR_2011.jpg
AnomaliesB1 to B4 are located just east of the Solotomo artisan mine site andare part of a system of NW/SE and NE/SW structures. Geologicalobservation from trenches suggest that the gold mineralisation on theSolotomo discovery occurs in quartz - carbonate veins hosted within awell preserved and very deformed Sericite schist trending NW anddipping to the East. One form of disseminated alteration most commonlynoted in oxidized rocks is quartz-sericite-pyrite (QSP) alteration.This alteration type is not distinctly different in coloration in freshcore and is thus difficult to detect in that state. Surface weatheringconverts the sericite to white kaolinite creating a bright white coloralteration distinguishable even at great distance when exposed intrenches, artisan diggings and drill pads. This kind of alteration isevident in the proximity of the Solotomo artisan pits and the whitekaolinite is visible from great distance.
Soilgeochemistry is proven to be the most efficient exploration method usedto find large gold deposits in a lateritic geological environment. Amajority of gold deposits in West Africa has been outlined by thismethod. Gold anomalies can be very low grade, a few tenths of a gram,generally, which represents an important indicator. In the case ofSolotomo area, the company has found numerous soil samples grading over1.0 g/t Au and up to 13.8 g/t Au. In many cases, soil geochemistrysignature reflects the deposits found underneath those anomalies.
Directobservation of the gold geochemistry of the area suggests the presenceof two different sets of structures oriented north 70 degrees east andnorth 120 degrees east. Higher grades seems to be associated with thenorth 120 degrees east structures, and possibly with the intersectionof both structures as it looks to be the case for the Solotomomineralized stockworks.
ABOUT BALANDOUGOU PROPERTY:
TheBalandougou property is located 100 kilometers to the North of Siguiri,in Upper Guinea, close to the Mali border. It is composed of fourcontiguous 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.
In2007, GoldenFrank Resources Inc., now a wholly-owned subsidiary ofStellar Pacific Ventures Inc., bought an 80% interest in the propertyand signed an option to buy the remaining 20% from the Guineancounterpart. Further, the Company has optioned 51% of the Guineaportfolio to Ultragold Holding LLP of Denver Co in consideration ofUltragold expending US$ 1,5 million in exploration work on theBalandougou Property.
To date, more than US$ 2.0million has been spent in exploration work by the JV partners and thefollowing 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
Althoughthe emphasis has been on the impressive Solotomo gold anomalies, it isimportant to note that a dozen more gold in soil anomalies and goldoccurrences on the property need further investigation. Goldoccurrences like Keniebani, Mawren and Fadaninda all show extensivequartz veins systems with visible gold and some sampling of quartzveins returned impressive results as stated in the NI-43-101 assessmentReport
On the Niagassola permit, the main goldoccurrence is the Kéniébani Artisan gold mine. This active gold diggingsite extends for at least 800 metres along a major quartz veinssystem. The veins are estimated to strike N 55°E with a sub verticaldip. Eight quartz blocks samples collected on this site yielded goldvalues ranging between 7.2 and 465 g/t Au.
East ofthe Kéniébani artisanal mine site, a quartz vein is exposed in a trenchon the side of a hill, where grab samples returned grades of 2.26 and20.7 g/t Au.
On the SOCOSGUI permit, ten (10) goldoccurrences were visited. Three (3) of them (Fadaninda, Mawren andSolotomo) are considered as high priority targets.
Fadanindaconsists of a quartz vein estimated to strike N10°E with a subverticaldip. Two samples collected on this site yielded 62.0 and 108.0 g/tAu. Mawren is a quartz vein estimated to strike N25°E with asubvertical dip. A sample from the artisan mine tailings returned 154g/t Au.
At Solotomo, artisanal digging exposes astockwork of quartz veinlets in a fine grained granitic rock and theoverlying laterite. Three samples collected on this occurrence gave33.9, 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.