Post by
goldentrader on Feb 01, 2006 2:32pm
SPX has a long way to go
Stellar Pacific acquires Opinaca gold property
2006-01-31 07:37 ET - News Release
Mr. Michel Lemay reports
STELLAR ENTERING IN OPINACA GOLD PLAY WITH STRATEGIC LAND POSITION
Stellar Pacific Ventures Inc. is acquiring 100-per-cent interest in the Opinaca gold property located in the James Bay region of Quebec. The company is earning its interest by issuing 500,000 of its share capital to two prospectors.
The property, which consists of nine map-designated claims totalling 471 hectares, is strategically located adjacent to the Virginia Eleonore's property, where several major gold zones have been discovered. The property is bordered to the north by Virginia and Beaufield Resources, to the southeast by Azimut Resources, to the south by Beaufield Resources and to the southwest by Virginia Resources.
The main interest of the property consists of its strategic location within a geological-geophysical setting similar to Virginia's Roberto deposit. According to Quebec government report ET2002-06, the property is underlain by sedimentary and felsic intrusive rock similar to those associated with the Roberto deposit. Furthermore, according to various company website, numerous gold showings and anomalies have already been discovered on neighbouring properties.